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Bankniftytrading

29 Aug ’23 Post Mortem on BankNifty - Bulls absent due to ONAM?BankNifty Analysis Yesterday I had a bullish call for banknifty, but we ended up the day flat. Although the bulls got the gap-up above the swing high of yesterday - they were unable to capitalize on it. Since there was that gap up, the slow but falling price action ensured that the index is not closing in red. Intraday we had a fall of 239pts ~ 0.54% which is nothing compared to the usual strength of banknifty. I was joking in our trading discord group that, today being the ONAM festival (regional festival of Kerala), the big-boys would have gone for the mega feast (sadhya) that they preferred not to swing the markets that hard. If we look at the 1hr chart, the bullish momentum should come soon. Firstly because the support is still strong and secondly we are out of the falling wedge. Today might have been a resting day probably - I am personally expecting some serious movements either tomorrow or by 31st Aug. I wish to maintain my bullish stance for tomorrow and would prefer to remain a bull till the support is not taken out.
NSE:BANKNIFTYLong
by viswaram
FASP levels for Bank Nifty 29/08/2023The FASP for BankNifty is listed for 29-08-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
28 Aug ’23 Post Mortem on BankNifty - support respected, bullishBanknifty was in tremendous form today, it seemed like it came prepared to rally today. Even though point wise we had only a 403pts ~ 0.91% intraday swing, the context was so important. Firstly banknifty defended the 44068 support below which it would have got a serious bearish bias. Secondly we had a breakout on 24th Aug where we went up till 44949. Today’s price action gave hope & meaning to it. Banknifty usually reacts first in a trend change, most likely if we have a strong session tomorrow due to Finnifty expiry (mostly banks) then Nifty is also likely to breakout from the bearish channel. On the 1hr chart Banknifty has broken out from the falling wedge and also rejected the support @ 44068. I wish to look out for bullish opportunities for tomorrow as long as the current structure is maintained. A breach of support 44068 will force me to change stance from bullish to bearish.
NSE:BANKNIFTYLong
by viswaram
Banknifty Tradesetup for 28-08-2023Banknifty important levels to watch are as follows #Support: 44138 Sell below: 44138 only on 15 minute candle closure below the level. scalpers may short below 44200 only for scalping. Target 1: 44000 Target 2: 43880 Target 3: 43780 #Resistance: 44356 Buy Above: 44356 only on 15 minute candle closure Above the level. Target 1: 44490 Target 2: 44670 #Demand Zone: 43950-44000 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 44300-44350 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:BANKNIFTY
by InvestyourAsset
25 Aug ’23 Post Mortem on Banknifty - 60% neutral 40% bearish 🐻Banknifty made a strange pattern today, opening mega gap down and then breaking the support of 44068 by 10.30. And then climbing back to the open levels. From there it stayed in that tight range for the rest of the day. From an intraday fall of 1.07% it is quite commendable that banknifty was able to recover and close only 0.59% lower. I was not quite sure why banks weren't falling like other non financial stocks. Finally we have closed above the support zone of 44068 which is quite good for the bulls. The options flow was also indicating no major swings today, the premiums of the OTMs were like an ordinary Friday. I was hoping to make a good fortune today - but the premiums did not help. On the 1hr TF we have 2 island formations, the gap-up caused yesterday’s island and the gap-down caused today’s. Structurally BankNifty has not broken the bullish pattern from the breakout of falling wedge. Now all eyes are on the support level of 44068, if it holds then banknifty will resume its upward journey with much more vigor. If the support falls - then banknifty will follow nifty’s downtrend and overtake it in the coming week itself. I wish to go 60% neutral and 40% bearish for 28th Aug. If the support falls in the first hour of trade on Monday, I prefer to go all-in for shorts. Only if we take out the 44500 via gap-up then we need to think about a long position.
NSE:BANKNIFTY
by viswaram
FASP levels for Bank Nifty 25/08/2023The FASP for BankNifty is listed for 25-08-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
24 Aug ’23 Post Mortem on BankNifty, Bulls have the upper hand🐂BankNifty Weekly Analysis Between the last expiry and today, BankNifty has gained 595pts ~ 1.36%. This is exactly why I said banknifty works as a leading indicator to detect trend changes. If you notice carefully the outperformance has started in BN, not quite in N50 (up only 0.17% weekly). And in the turn of events today, BN held its ground - cheers for that ! BankNifty Daily Analysis Today’s price action was action packed just like Nifty’s. If you are an options trader a simple glance at the OTM premiums will help you understand what I am trying to say. Since we had a gap-up opening an implosion in implied volatility followed which killed the options premium. Once we hit the day’s high 44949 @ 09.45 and the reversal started - the options premiums (OTMs) started jumping unusually. And what followed was a strong profit taking I must say. We fell 513 pts ~ 1.14% from the HOD to the LOD today. The intensity of the fall 1.10% was the same as that of Nifty but a higher gap-up combined with a climb to the high of the day gave banknifty a better closing than expected. BN closed flat at 0.04% compared with N50 which fell 0.29%. Also on the 1hr TF banknifty is still bullish as the falling wedge pattern is untouched. As long as it stays this way, the momentum will pick in BN and a breakout will play out. On the other hand if we get into the falling wedge pattern even after the convergence, it results in an immediate support breach which is quite bad news for the bulls. Looking at the performance this week - the trend should favor the bulls wherein the Nifty bulls could play the catch-up. I prefer to maintain my bullish stance for tomorrow and will be forced to go directly to bearish if 44068 is taken out on the hourly candle.
NSE:BANKNIFTYLong
by viswaram
23 Aug ’23 Post Mortem on BankNifty | BN becomes a 🚀🚀🚀We will start with BankNifty today, because we had a reversal pattern today. According to me trend changes are first spotted on BankNifty and hence it works as a leading indicator. This is what I said in yesterday’s report: Also note that the falling wedge will converge tomorrow, so a strong up move is more dangerous. The bulls will use that opportunity to drive the prices up and it could even take out the 44800 levels in one go.I am not quite sure which of these scenarios will work for tomorrow. I am inclined to go with the bearish stance as its still under the resistance of 44068. What really happened today is Banknifty took out the resistance of 44068 by 11.05 and went all the way up to 44521. There was a swing of 567pts ~ 1.29% today. Literally BN became the rocket today. We did breakout from the falling wedge pattern and turned bullish. The same is shown on the 1hr TF, notice we had 4 hourly candles above the bearish trend line. This indicates a breakout usually. Also the candles at 10.15 and 12.15 (before and after the break) were strong enough suggesting a change in sentiment. Luckily we were prepared for such a scenario today and did not mess up with the existing short position. The reason I took up banknifty analysis before nifty is to show you that Nifty did not have a clean break today. Whereas BN did, the reason could also be due to the slope of the falling wedge. The convergence of the bearish trendline and the horizontal support happened today - so Banknifty had to either breakout or breakdown. Though I dont exactly know what change in fundamentals caused the breakout, from the technical analysis angle - the move did not come as a surprise. I wish to change my stance from bearish to bullish for tomorrow. If we fall below 44068 in the morning session, I might have to go bearish again.
NSE:BANKNIFTYLong
by viswaram
22 Aug ’23 Post Mortem on BankNifty - stance is still bearish 🐻The reason why we were bearish in the first place was the inability of BankNifty to take out the resistance of 44068. Today’s price action is the biggest proof on why it worked. If you notice the trades today, it was above or near this level till 13.40. Then banknifty started falling. And the final close came at 43950 - there was a noticeable fall of 160pts from 13.30 to close. On the 1hr chart, the trades below the horizontal blue line ~ 44068 is quite visible. If banknifty stays here for a considerable amount of time - then its a good sign for the bears. The momentum for further falls will pick up pretty fast. Also note that the falling wedge will converge tomorrow, so a strong up move is more dangerous. The bulls will use that opportunity to drive the prices up and it could even take out the 44800 levels in one go. I am not quite sure which of these scenarios will work for tomorrow. I am inclined to go with the bearish stance as its still under the resistance of 44068.
NSE:BANKNIFTYShort
by viswaram
FASP levels for Bank Nifty 22/08/2023The FASP for BankNifty is listed for 22-08-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
Bank Nifty | Tuesday 22 Aug TradingAs today was good move on Nifty and Bank Nifty for tomorrow in simple strategy for bank nifty is 1. Leave first 15 mints 2. if It open or cross up side of yellow box ( which 1 hour of yesterday ) range then be bullish for 44400 - 44500 3. If open in within yellow range then wait to take support at 43900 or 43800 then can be bullish I am just putting my point of view for bank nifty as i am option CE / PE buyer only i do not sell any option. This is not suggestion to anyone. Do analysis, read chart, data and price action and trade on your own risk. If you like my post please do like, comment and share Thank you
NSE:BANKNIFTYLong
by apstockanalysis
1
21 Aug ’23 Post Mortem on BankNifty | Stance is still bearish Looking at the way Nifty performed in the morning session, I was quite worried that the stance on BankNifty might also have to be changed. The level that we were looking for was 44068 which is the first resistance zone. At 13.15 we broke that in the 5mts candle, and then we broke it again at 13.55 - but the momentum was not strong enough. There was a strong fall of 159pts in the last 30mts which would have given some respite for the bears. Basically it was this move that helped me decide to not change the stance. The moves today were as bullish as Nifty, the only reason was the failure of resistance breach. The foundation of my tech analysis is based on support and resistance - so if we do not get a clear break, then I still consider it as a continuation pattern. This is the case even if the price action is strongly opposing it. On the 1hr TF, the pattern is quite similar to Nifty - the only difference is that the price is below the SR line whereas its above for Nifty. As long as we are below the resistance in a falling wedge pattern - its still a bearish signal. Meanwhile the convergence is coming up real soon and an upward thrust could shift the momentum in bullish favor. The reason for faster convergence is because the slope is steeper for banknifty. For tomorrow I would prefer to retain my bearish stance until we have an hourly closing above the 44068 zone.
NSE:BANKNIFTYShort
by viswaram
1
Banknifty TradeSetup for 21-08-2023Banknifty important levels to watch are as follows #Support: 43735 Sell below: 43735 only on 15 minute candle closure below the level. Target 1: 43520 Target 2: 43290 #Resistance: 43925 Buy Above: 43925 only on 15 minute candle closure Above the level. Target 1: 44070 Target 2: 44281 #Demand Zone: 43730-43810 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 44000-44070 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:BANKNIFTY
by InvestyourAsset
Banknifty future chart analysis for 21.08.2023Do not go long before price crosses over upside standard deviation one, crossing over above 44075, you may again see a beaten down buying situation which may push price further ahead, follow levels. As you can see Banknifty future was closing near Median line from last five trading days , this is the first time it closes below downside standard deviation one (Blue) , after rejecting from upside standard deviation one (Blue) , which is pretty good for nice may be downside move , and you can also see a squeeze in bollinger bands. which may burst tomorrow. If price opens at the same level where it left off and then crosses below the special level (Red Line) then you can enter in PE trade , but keep in mind that 43792 will be a strong support in this situation crossing below 43792, price may go below to the level of 43491.
NSE:BANKNIFTY1!
by stoxway
Banknifty weekly analysis for 21/08/23.Banknifty has been trading around a major support levels and is around weekly 20 ema. It is taking support from the moving average. For last 4 weeks market has given red candles and has formed a confusion candle this week. On the daily charts, market is stuck in a small range which shows that there is a high probability of a trend market in this week. Banknifty is giving close in a small range ans closed almost flat on friday. In the last trading session market has trading inside the first hour candle. The market is in a sideways mode. Watch a trending market in the coming week. On the hourly charts, the market has been taking resistance from the 20 ema and is trading below both the moving averages. Market is also taking resistance from a trend line, forming a descending triangle pattern. Support :- 43750, 43570, 43400 Resistance :- 43920, 44090 Market has tested 44k levels multiple times, making it a weak resistance levels. Watch for a break out or break down of the levels as there can be a trend move in the markets. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
FASP levels for Bank Nifty 21/08/2023The FASP for BankNifty is listed for 21-08-2023. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
Banknifty TradeSetup for 18-08-2023Banknifty important levels to watch are as follows #Support: 43735 Sell below: 43735 only on 15 minute candle closure below the level. Target 1: 43520 Target 2: 43290 #Resistance: 43925 Buy Above: 43925 only on 15 minute candle closure Above the level. Target 1: 44070 Target 2: 44281 #Demand Zone: 43730-43810 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart. #Supply Zone: 44000-44070 may act as an immediate selling zone, and price may reject from the region marked in red on the chart. #Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:BANKNIFTY
by InvestyourAsset
Banknifty future chart analysis for 18.08.2023As you can see here that price continously closing near Median line , thatswhy you are not getting proper move in banknifty , this is the fifth time it closed near Median line, but with a squeeze in bollinger band , you may see a nice move today price do not face resistance at 44149 or support at 43919, if it retraces back from 44149 , or bounce back from 43919 , then you may see sideways again. If price goes below 43919, then you can see a good downmove and price may reach to the level of 43646, in between 43839 is a strong support if price takes support here sqaure off your position with small profit, take trade again when it breakdown 43839. In upside if price breaks up above 44149, go long , 44262 strong resistance crossing above it may push price towards 44389.
NSE:BANKNIFTY1!
by stoxway