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Bankniftytrading

09 Aug ’23 Post Mortem BankNifty + RBI MPC analysisBanknifty had a perfect W like pattern formed in the 5mts TF. Even though the rally from 13.50 to close was inspiring, it was not as fierce as on Nifty50. The fall of 441pts ~ 0.98% steals the limelight today. Now was the 380+ pts reversal from the intraday low to close due to the RBI MPC outcome expectation tomorrow? Some facts to consider. The vegetable, fruits, cereal, and rice prices right now are totally overheated. A middle class family of four will outrun their budget. Even a household income of Rs50000 will fall short. More pain if they have 2 school going kids or ageing parents who need medical attention. The sad thing is, even if RBI hikes the interest rate to control the inflation (which would have resurrected now) - it seldom goes into the control of Vegetable prices. RBI’s rate hike will only reduce liquidity to the formal sector. The guy who owns a super speciality air conditioned hypermarket that sells tomatoes = YES!. The guy on the roadside selling tomatoes = NO. The small farmer who harvests 20 bags of tomates = NO. I personally feel a hike of 25bps is overdue, mainly because fuel prices are rising and banks have reported decent quarter results - their balance sheet does not look that stressed out right now. Liquidity is not getting reduced that much and Inflation may hover around the upper band of 6% by the end of this festive season. I guess the current product & service prices are unaffordable for the lower range of middle-class. The ultra poor get DBT, cash benefits and ration benefits from the Govt. - but the inflation hits them the most. I seriously think the poor people will opt-out from buying vegetables at these prices. The best solution they can pray for right now is a full blown depression. On the hourly chart, banknifty has managed to stay out of the bearish territory in the 14.15 hourly candle. But the bears have not really lost control - a change in the status quo of RBI will tip the scale in their favor tomorrow. I am going with a 55% neutral and 45% bearish stance for tomorrow.
NSE:BANKNIFTY
by viswaram
FASP levels for Bank Nifty 08/08/2023The FASP for BankNifty is listed for 08-08-2023. 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
08 Aug ’23 Post Mortem on BankNifty | Stance is neutral !The major reason Nifty50 stayed strong without falling much is banknifty. It did show an attempt to break free from the bearish trend, the opening rush of 279pts till 10.40 is proof for that. From there was loss of steam and a pull back of 204pts. Once this inverted V shape was completed - there was lack of direction or momentum. Options data also indicated a non-directional trend post 11.30. The change in stance from bearish to neutral worked well for banknifty today. We have marginally closed above the trendline. But for a bullish breakout we need to take back the 45400-45600 levels soon - I am not sure if there is enough momentum for that right now. If the trades taken on Finnifty today were positional in nature due to expiry, we may have an unwinding tomorrow. This could also pull back banknifty back to the bearish zone - so currently the best idea would be to wait for tomorrow’s price action.
NSE:BANKNIFTY
by viswaram
Banknifty TradeSetup For 08-08-2023BankNifty important intraday levels to watch for 07-08-2023 #Support: 44800 Short if candle closes below 44800 #resistance: 45000 Long if candle closes above 45000 #Targets on downside after break of support. Target 1= 44630 Target 2= 44400 #Targets on upside after break of resistance. Target 1= 45135 Target 2= 45360 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
07 Aug ’23 Post Mortem on BankNifty - bearish to neutral nowBanknifty had a perfect flat range bound day today. Normally we dont see it that often, but banknifty seems like a tamed beast as of now. You might be bored to hear this from me again that from “January 2023, I think banknifty is less volatile than Nifty50”. A look at the options data is ample proof - the OTM option values today is more like we usually see on a wednesday. All non-directional traders who deployed straddle, strangles or iron condor/fly would have made some easy money as there was no breakout or breakdown. Just like the stance changed on Nifty from neutral to bullish, I preferred to change the stance on banknifty to neutral from bearish. Here again it is much early as we had no decisive break of the recent H&S nor the trendline. But today’s price action has influenced my decision - the bulls and bears are currently equally powered and it looks like both of them do not want to pick a fight now.
NSE:BANKNIFTY
by viswaram
Banknifty TradeSetup For 07-08-2023BankNifty important intraday levels to watch for 07-08-2023 #Support: 44780 Short if candle closes below 44780 #resistance: 45000 Long if candle closes above 45000 #Targets on downside after break of support. Target 1= 44630 Target 2= 44400 #Targets on upside after break of resistance. Target 1= 45135 Target 2= 45360 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
Bank Nifty future chart analysis for 07-08-2023As you can see here that price closed just above standard deviation one and above median line , in between strong resistance and strong support high chance that price may go in a broader sideways. But if price crosses above 45097 than you may see a good upmove till 45283, 45283 is a strong resistance , if price retraces from here than it can again reach to the level of 44851, crossing above 45283 may push price much higher. If price breaks again median line means 44851 than it may reach much lowerside and may achieve both the targets very easily.
NSE:BANKNIFTY1!
by stoxway
04 Aug ’23 Post Mortem on BankNifty - no change in stanceBanknifty on the other hand is still in the bearish zone and still continues to provide some hope for the handful of bears that are left. Even though we ended up with 0.82% gains compared to 0.7% of Nifty, banks are still not out of bear hold. The reason is the price action. We had an intraday rally of 601pts ~ 1.35% and then a fall of 525pts ~ 1.17%. Although I changed my stance of Nifty from bearish to neutral, I do not wish to change the stance of banknifty. I prefer to go with bearish bias, but the situations are not conducive for a fall. The crash in India VIX to 10.57% ~ -5.48% is the biggest example. There is absolutely no fear, the options prices are reflective of that. Since the premiums have dropped, an option seller would be quite scary to take naked positions home. A small rise in volatility will unleash the beast in banknifty - an area to look for is the “Loan growth” reported by the banks and not just their quarterly revenue or profits. Loan growth shows the actual demand. Are people coming in flocks to take new loans? That too with high interest rates?
NSE:BANKNIFTYShort
by viswaram
02 Aug ’23 Post Mortem on BankNifty | Bearish trend continues From yesterday we were bearish, so the moves in the forenoon session gave us some validation. But it was nothing like Nifty, the cuts in banknifty were not aggressive even though we lost similar points. The options flow was not indicating that deep a fall till afternoon - the premiums on nifty was far superior than banknifty (which has been unusual lately). Sometimes cannot really differentiate which has a higher beta - nifty or banknifty. Banknifty fell 612pts by 12.00, then 412pts between 12.50 to 14.20 and the final recovery of 361pts in the last hour ensured the final loss was only 1.31% ~ 596pts which is not bad at all. If we stay like this, then banknifty will have to take leadership in the bearish trend. Since it has a 38% weightage - the institutions may target the financial sector to drive down the prices on Nifty too. The 2 horizontal lines is a safe zone for banknifty, a strong break of 44598 will give bears total control and the double top would have given some bulls to take a breather. We will continue to have a bearish bias till proven wrong.
NSE:BANKNIFTYShort
by viswaram
Banknifty future chart analysis for 04.08.2023As you saw that price did not took support at median line and also broke standard deviation 1, if price goes below cuurent low you may see another burst in bollinger band . burst within burst in same side will pull down price to deep lower side. if price goes below 44597 , then you can see a good down move till 44179, but one special support level you have to keep in your the level 44473, price may take sudden bounce from here. Above -44893 , you may see new long positions and bitten down buying , which may later again fall. 45069strong resistance area above it price will achieve its full target.
NSE:BANKNIFTY1!
by stoxway
03 Aug ’23 Post Mortem on BankNifty Weekly Expiry Analysis 🐻🐻BankNifty Weekly Analysis Banknifty has fallen an impressive 3.18% compared to just 1.89% of Nifty. The major reason for that is Banknifty always acts as leading indicator in a trend change NiftyIT and Reliance were supporting Nifty in the last week. Once the US market started falling due to the Fitch rating downgrade, NiftyIT started correcting which ensured Nifty’s breakdown. Now why BankNifty chart pattern screamed a bearish opportunity before Nifty - I really dont know. The price action of 27th Jul was very strange and unusual. BankNifty Daily Analysis Today’s price action was in perfect harmony with yesterday’s. The ease with which the chart pattern could be plotted was as simple as going short in today’s expiry. The day started pretty ordinary for OTM options, but after 10.00 the premiums started jumping indicating a market trending opportunity. The real move came only after 11.30 wherein we dropped 591pts ~ 1.32% till 14.10. Overall we fell 754pts from High to low of which ~80% came after 11.30. There was also a decent recovery of 325pts ~ 0.73% in the last 1hr 20mts. The final close of just 1.07% ~ 482pts loss is not a deal breaker at all. Basically the market participants are still euphoric and the fear level is absolutely near zero. The VIX falling today even after a 6% surge intraday is proof. For push down of prices - we would need more intense selling on HDFCBK, ICICIBK, SBIN, AXISBANK which has a decent FII exposure and has seen a one-way rally. The double top pattern from yesterday has now changed into a head and shoulders further reconfirming our short side possibilities. Until proven wrong, we prefer to go short.
NSE:BANKNIFTYShort
by viswaram
FASP levels for Bank Nifty 04/08/2023The FASP for BankNifty is listed for 04-08-2023. 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 Expiry tradesetup for 03-08-2023BankNifty important intraday levels to watch for 03-08-2023 #Support: 44750 (Immediate support for scalping 44880) Short if candle closes below 44990 #resistance: 45090 Long if candle closes above 45090 #Targets on downside after break of support. Target 1= 44600 Target 2= 44420 #Targets on upside after break of resistance. Target 1= 45240 Target 2= 45360 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 daily analysis for 03/08/23.Finally market has closed below 20 ema and closed below 45k levels. There is a doji candle on the daily charts after touching a low of 44750 levels. RSI is also showing bearish divergence on the higher time frame and after testing the new highs Banknifty is retesting the lows. On the hourly time frame, a tweezer bottom pattern has been formed after touching the support levels of 44750 and closed below both the moving averages. After crossing the 45100 levels market sell upto 44750 and reversed quickly and closed near 45k levels. On 15 minutes time frame, market has closed below both the moving averages and is close to 20 ema after a nice fall of 600 points. Support :-44750, 44565 Resistance :- 45100, 45310 After a 200 points gap down opening market continued to fall and if market starts trading below 44550 level, there are chance of market testing 44k levels. Tomorrow is weekly expiry and today's fall may continue. Sell on rise market is on. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
#banknifty"Good morning! As of August 2nd, the global market sentiment is negative (based on Dow Jones only), and the market nature is moderately bearish. Therefore, it might begin with a minor gap-down. Following that, if the market rejects the immediate support, we can expect it to move within a range-bound structure to pullback continuation. This is because there is an ongoing sub-wave two. We can anticipate a correction only if the market breaks the swing bottom."
NSE:BANKNIFTY
by Manickamtraders
4
01 Aug ’23 Post Mortem on BankNifty | The bears havent left townBanknfty fell 309pts ~ 0.68% from the day’s high to the day’s low. The gap up open was a surprise but the fall wasn't. Unlike Nifty, banknify is out of bearish hold yet. However the inability to push down prices even after getting an initial momentum during the day may not go in favor of the bears. The top formed today (encircled in blue) may be considered as the first lower high as we have respected the M like pattern (double top). I wish to change my bias from neutral to bearish for banknifty for tomorrow. ... Comment with your thoughts, opinion or bias, I will respond with the levels I am watching for tomorrow !
NSE:BANKNIFTYShort
by viswaram
Banknifty daily analysis for 02/08/23.Markets are forming inside candle and has closed flat losing only 58 points. Banknifty has been taking resistance from 50% fibonacci levels and is taking rejection from it. It is respecting the fibonacci series and is forming a bearish pattern A fall and now retest of 50% fib levels shows some bearish move prediction. For last 3 trading session market has taken option buyers into losses and sideways market cycle is on. On the hourly time frame, market has closed below the 20 ema, even after a gap up opening. On 15 minute charts, opening was above both the EMA's but it couldn't sustain above the levels and closed between them. 200 ema has been giving resitance to the market. Support :- 45500, 45310 Resistance :- 45690, 45850 Market has been trading in a range and in not giving any significant move on either side. Today's weekly expiry of Nifty Finance service was also confusing and took a lot of money from option buyers. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum