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Bankniftytrading

BANKNIFTY--Inside candle + Up = Fall ??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 as Bearish Pressure + Consolidation + Upside = Great fall. if we observe after breaking the trendline no retest is observed in higher timeframes, a strong bullish move is observed from 44700-44750 levels. if price failed to take the help of previous HH, and bottom side Demand fails, we can expect a strong fall. Will see what happens in live market... Thanks for your support.
NSE:BANKNIFTY
by IIT-Trader
1
20 Jul ’23 Post Mortem on BankNifty | Bull run is not stopping!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 too. Daily Analysis Banknifty’s 5mts pattern has some story to tell, notice the period till 10.00 where nifty was falling, banknifty held its ground. In fact the real rally did not take off till 11.45. From there it went up 497pts ~ 1.09% by 14.30. This rally from a point of strength gave a steady grip for Nifty to play its natural game! We made a new ATH of 46256 today, the weird thing is we had a retracement of 231pts ~ 0.5% between 14.30 to 14.50, the pullback to that was more weird - we gained back all those points in the next 20pts. The expiry premiums for the PEs were quite unrealistic, the premiums were jumping so aggressively that it gave out a lot of easy money minting opportunities. Usually the volatility increases like this during market crashes. Probably this would be the first time where the PUT options were in deep green when the markets were going up.
NSE:BANKNIFTY
by viswaram
#bankniftyGood 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 continuation with minor corrections. However, in the event of a sharp decline in the initial market, we can anticipate only a minor correction.
NSE:BANKNIFTY
by Manickamtraders
2
19 Jul ’23 Post Mortem on BankNifty, Upside looks very promisingBanknifty 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 action of what we had on 18th July. But these days Banknify has lost its wild swinging nature, in fact Nifty is showing more tendency to swing. Like mentioned earlier, reasons like this are prompting banknifty traders to switch back to nifty for more bang! 1hr TF should show bullishness, again due to the bearish trend line breakout. The retest of the trend line should happen real quick if bears would like to pass a message, otherwise the field is set for more bull runs. Again I wish to stay out from trading as we dont have strong support levels.Only if the premiums look enticing, I could go ahead and sell them. Tomorrow’s expiry looks uneventful if the premiums stay like this. Let us hope RELIANCE brings in some drama tomorrow & the banks are called upon to counterbalance the weight on Nifty50.
NSE:BANKNIFTY
by viswaram
Banknifty daily analysis for 20/07/23.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 might have red PnL. Support :- 45470, 45350 Resistance :- 45690, 45850 Tomorrow is weekly expiry and if market gives a breakout around 12:30, its likely to carry on. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
18 Jul ’23 Post Mortem on BankNifty | 557pts fall in 1hr ?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 also means the selling momentum was not picking up pace - another bad news for the bears. Also the impact on Nifty50 was not heavy as NiftyIT started to support and rallied almost 1.6% afternoon. Hitting a new ATH for banknifty was something special, this has to do with the impressive quarterly results. Seems like the other banks may have similar or better numbers to report than Hdfcbk, saw the IndusInd bank results post market hours - that looked good as well. On an hourly time-frame banknifty is sill looking bullish - mostly because of its trend line break and the break-out momentum. Today’s fall was also arrested quickly which may be of interest to the bulls.
NSE:BANKNIFTY
by viswaram
FASP levels for Bank Nifty 19/07/2023The 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 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 trade plan for 18-07-2023Today's rally was very sharp and steep. Breakout of ATH is difficult, but most likely it will give breakout with gap up, but sustaining the price above ATH is bit doubtful. Can expect a gap to be filled after gap up opening. We are positional long, can book partials at gap up opening and watch the market to pyramiding at retracement or ride the balance qty without doing much at all just ride the rally and buy on dip would be the easiest set up to trade
NSE:BANKNIFTYLong
by KarniKripaa
BANKNIFTY--@Channel Breakout ??The index price is still trading in a channel... will this channel breakout.... or continue it's momentum towards downside.... we are at important zone...i.e 44500 zone... today price comes almost near to this zone and showed a bullish momentum towards upside... But we are still having some bullish gap left @44400 level... if today's bullish momentum is a bull trap, tomorrow price will be bearish... opens gap down fill the bottom side gap and moves up... or continue fall bottom levels, to grab the liquidity on buyside. If this a bear trap...still those who are buying puts after a strong bullish momentum puts are available at cheaper price...price will opens again gap up and takes all the liquidity on put side.. fills bearish gap and again falls from that level... so without confirmation, we cannot say anything ....as per the price movement it is in a channel.so we are taking any decision after breaking this channel... Will see what happens in the upcoming session. If this is helpful...please do follow and give a like..... Thank you guys...those who are supporting me... Have a nice weekend.
NSE:BANKNIFTY
by IIT-Trader
Banknifty Trade Setup for 17-07-2023BankNifty Important intraday levels to watch for 17-07-2023 #Support: 44790 Short if candle closes below 44790 #resistance: 44920 Long if candle closes above 44920 #Targets on downside after break of support . Target 1= 44560 Target 2= 44420 #Targets on upside after break of resistance. Target 1= 45090 Target 2= 45315 Target 3= 45420 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 weekly analysis for 17/07/23.Banknifty has almost retraced to 50% fibonacci levels and taken support from 20 DMA. There is a doji again on the weekly charts and is respecting a support zone around 44600 levels. On the daily charts, a dragon fly doji was formed. Banknifty has respected the moving average and took a nice reversal from 20 ema. Market from the first hour was there for selling and in the last hour after hitting the support zone reversed and closed 150 points higher. Nifty is trading stronger and is forming new highs but banknifty still trading below 45k levels. On the hourly charts, there is a confusion as its trading around the 20 ema and no clear trend is there. Once there is a break out of the trendline and both indices support each other, banknifty can test 46k levels soon. Support :- 44600, 44400 Resistance :- 44920, 45070 As per nifty market are looking bullish and even the global sentiments are suggesting a bull market. Banknifty can give good targets in the coming week. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by TheMamboMomentum
14 Jul '23 Post Mortem on BankNifty - 348pts in 50mts race car!Banknifty on the other hand a totally contradicting price action that of Nifty50. If you have read my previous reports, I was continuing to look for bearish opportunities. The fall from the open to the low of the day was 375pts ~ 0.83%. This along with the previous day's price action would be more than enough for any chartist to go bearish. Thats when the surprise unleashed! A rally of 348pts ~ 0.78% in the last 50mts of trade. This also took out the bearish trend line. Yesterday we had a brief moment of trade above the bearish channel but that got negated. But today's breakout can be considered valid since we closed strong. My bearish bet is over & I continue to be neutral on banknifty. If it takes out 45117 level in the next day - I will start looking for bullish opportunities.
NSE:BANKNIFTY
by viswaram