I had a long call on banknifty and a short call on nifty50. All of us know very well that the probability of that happening is quite rare. Well we go as per what the chart says, banknifty showed strength on the last working day even when nifty was falling.
Today also banknifty was staying strong until the 286pt fall from 11.30 to 11.55 - just after this price move...
Banknifty has been trading in a parallel channel and today in the second half of the session has consolidated forming a red candle.
On the hourly charts, it traded around the 20 ema and closed near to the levels. The market has been consolidating and forming a falling wedge pattern. Break out can good trade points in coming days.
Market traded below the previous...
While BN is yet to achieve its short term target.
Combining with nifty, while nifty fill then gap BN can make its short term target and then reverse with nifty.
Stay cautious, and do not trade random.
Banknifty on the other hand was staying strong today, although it opened gap down, it closed down the distance in the opening 5mts itself. After hitting a new ATH of 46369.5, it started falling gradually.
Banks were not at all looking weak today. Infosys fell due to poor guidance & Reliance fell after the demerger activity. Financial sector along with pharma...
Good morning, friends. Sorry for the late post; I couldn't predict the opening market, so there was a delay. The BankNifty is moving a little bit neutrally, and it will likely experience some minor consolidation between today's high and the Fib level of 38%. After that, if it breaks today's high, we can expect a rally continuation. On the other hand, if it breaks...
Hi guys, A bullish breakout of more than 18 month long consolidation has been oberved in NSE:KOTAKBANK . If it managed to close above the trendline today then we can create a fresh position in the scrip at todays closing. sl and targets will be shared later.
Exit the position if the stop loss is triggered on WCB.
DO YOU WANT ALL MY RESEARCH FOR FREE THEN...
After Showing strong Bullish Pressure towards new ATH, price showing strong bearish pressure.
price also forms a inside candle, and yesterday shows a strong bullish momentum again.
if this bullish momentum sustains...or falls again.
Considering that inside candle as consolidation at Previous ATH levels,
and shows us a bullish momentum, so if we consider this...
Today will be gap Down opening in BANKNIFTY . After opening if banknifty Start Trading Below 45950 level then possible downside rally of 400-500 points upto 45550 Level. Any Major upside only expected in case banknifty starts trading Above 46050 level. Also Possible Reversal Upside 45550 Level.
Nifty had very steep rally, so nothing much to analyse, where BN structure is still trade-able as support zone is nearby.
Buy on dip suitable, more then intraday, positional trades are more beneficial.
watch for first hr to confirm the clear direction small scalp trades would be good, big move is less probability.
Banknifty also outperformed this week, between the last expiry & today it is up 1443pts ~ 3.23%.
Unlike Nifty50 my positional call on Banknifty did not go wrong, that was mainly because we negated a bearish trend line this week. Usually when the trendlines are broken the breakout momentum is so strong that it could take the index to an overbought level...
Good morning! As of July 20th, the global market is indicating a positive start with GIFT Nifty showing a +2 points increase, resulting in a moderate bullish market sentiment. There is no significant difference compared to the last session, and there is a possibility of a slight gap-up opening. If the market maintains its structure, we can expect a rally...
Banknifty on the other hand had a perfect range bound trade today, the option prices also reflected this & there was absolutely no spike in premiums.
Yesterday we had an action packed price action, whereas it was calm and quiet today. So we have an inside day today meaning the big-boys have taken a day of rest. Most likely we could see a continuation of price...
An Inside candle has been formed on the daily chart and a dragon fly doji has been formed.
Market closed gaining 260 points. There was a gap up and a profit booking took market down.
Supports are nearby and the market is still in the bullish move.
On the hourly chart, a V shape recovery was there. And it is trading above the moving averages.
Today option buyer...
Banknifty important intraday levels to watch are as follows.
#Immediate support: 45560
#Immediate resistance: 45650
#Buy above : 45650 on candle closing basis.
Target 1: 45780-800
Target 2: 45900
#Sell below: 45560 on candle closing basis.
Target 1: 45430
Target 2: 45290
always use strict stoploss.
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Banknifty price action is bit dicey.
A little more dip could be give a good RR trade set up, if gap down,
If gap up opening then better to wait for clear direction , minimum retracement can expect is upto today's close to fill the gap and then upside rally can be seen.
Banknifty saw some profit booking today & it seems healthy. Thats right after we broke the all time high by 09.25. Interestingly finnifty also hit the day’s high at the same timeline but it could not take out the previous ATH.
There was a fall of 557pts ~ 1.22% between 11.15 to 12.20 but even this did not take banknifty much below the prev. close of 45449.75. It...
The FASP for BankNifty is listed for 19-07-2023. 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...
![BANKNIFTY: [INTRADAY] #BANKNIFTY PE & CE Levels(21/07/2023)](https://s3.tradingview.com/g/GGwHDtuL_mid.png "[INTRADAY] #BANKNIFTY PE & CE Levels(21/07/2023)")
