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Bankniftytrading

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
13 Jul '23 Post Mortem on BankNifty + Weekly AnalysisBankNifty Weekly Analysis Banknifty on the other hand is down 1.31% ~ 592pts between the last expiry & today. This was obvious as banknifty had shown a bearish trend ever since hitting the ATH on 4th July. Today for a brief period banknifty went above the bearish trend line but reverted to mean and closed within. It was when Nifty took out the ATH that BN reached the 45000 levels today. I now have a bullish call for nifty and a bearish call for banknifty, unfortunately only one of them will work out! --- BankNifty Daily Analysis The initial upswing and the downswing later in the day was quite similar to the one in Nifty50. If banknifty decided to stay above the trend line the bearish bias would have ended & it would have given more confidence for further peaks. While analyzing the options flow, I noticed huge volumes of PE credit spreads getting written i.e between 12.15 to 12.45 period. The encircled portion from the charts. Here again it was well before the fall started, so there is every likely hood those bullish spreads would have been covered. If not there is a high likely hood that it comes into effect tomorrow & banknifty might break through.
NSE:BANKNIFTYShort
by viswaram
12 Jul '23 Post Mortem on BankNifty - negate bearish pattern?You wont believe banknifty only fell 0.24% vs Nifty50 0.28%. But if you look the chart pattern, the feeling you get is total bearishness. This is mostly due to the previous session's price action & a continuing lower high pattern. The 09.20 candle itself fell by 162pts, and then the late selling adjustments in HDFCBK, ICICI, SBI & profit taking in Kotak Bank all led to a fall of 310pts between 14.40 to 15.10. Since HDFC is getting delisted, a minor was fall was expected as all the future dated expiries will end today. This will also lead to price correction on HDFCBK to maintain the ratio arbitrage. How tomorrow is going to shape up is still remains a mystery, during the closing hours there was immense shorts getting written at CE side. If Banknifty has to support Nifty50 then it needs to break out from the lower high pattern. Hoping tomorrow's expiry will be a volatile one!
NSE:BANKNIFTYShort
by viswaram
Banknifty Trade Setup for 12-07-2023BankNifty Important intraday levels to watch for 12-07-2023 #Support: 44700 Short if candle closes below 44700 #resistance: 44920 Long if candle closes above 44920 #Targets on downside after break of support. Target 1= 44520 Target 2= 44260 #Targets on upside after break of resistance. Target 1= 45150 Target 2= 45400 Target 3= 45650 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
#bankniftyGood morning! As of July 12th, there is no significant difference compared to the last session. The global market is showing a positive start with moderately bearish market sentiment. It might open with a gap-up. If it sustains, we can expect the continuation of the pullback. after that if it rejects the immediate resistance zone, it will turn into a range market for correction. Conversely, if the initial market experiences a sharp decline, then the correction will continue.
NSE:BANKNIFTY
by Manickamtraders
11 Jul ’23 Post Mortem on BankNifty - A lower low formation?Banknifty had a classic bearish pattern today. Opening gap up which was due to positive handout from global markets, then a rally of 205pts till 12.05. From there BN really lost the cool and was falling heavily. We had a total fall of 475pts ~ 1.05% till 15.05. If you compare the same time frame with Nifty - you will understand how N50 fared better. It did fall but was having a control. HDFCBK, ICICI, SBI, AXIS looked weak in the afternoon. Till 13.30 all these banks were almost in the green level. I am not quite sure on the reason for the fall, it could be due to Finnifty Expiry. However the options data was showing outright bearishness in the afternoon session. A lower low formation and breach of the 44780 level (even for a brief period) could open up the downside possibilities in the coming days. It may even restrict Nifty50's upside dreams.
NSE:BANKNIFTYShort
by viswaram
FASP levels for Bank Nifty 12/07/2023The FASP for BankNifty is listed for 12-07-2023. 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 setup for 10-07-2023BankNifty Important intraday levels to watch for 10-07-2023 #Support: 44840 Short if candle closes below 44840 #resistance: 45096 Long if candle closes above 45100 #Targets on downside after break of support. Target 1= 44720 Target 2= 44520 #Targets on upside after break of resistance. Target 1= 45230 Target 2= 45400 Target 3= 45650 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--Bullish Gap or Bearish Gap??Observations: 1.price opened in a demand zone and failed to take the price up wards... 2.The hidden demand zone acts as support and price moves up... 3.Yesterday's demand zone resist the price to go up....and price falls back... 4.while breaking the demand zone price, leaves a bearish gap and continue its fall till the hidden demand zone... 5.Bullish gap is still not able reach. so we have 2 options now... which gap fills 1.Bullish gap 2.Bearish gap. if price opens below gap1, we can expect a immediate fall happens and fills the bullish gap2. so be careful here, don't initiate a short as soon as opens.. wait for the right opportunity and enter. Based on the price opening we will decide which gap is going to fill 1st. and also price has created its 1st low...and given us pullback to sell... so on Monday if price opens below 1st low, then its created a 2nd low, which confirms bearish sign. then price is immediately created a lower high again...so will look for buy at that time.. then we can expect a bearish gap be finished and price may again fall, or continue moving up again. lets see what happens on live market. All this is a premarket analysis, live market is entirely different from the pre and post market analysis. our assumptions and calculations all are changes... so we have to act smart and continue with the price movement and observe the reactions at the demand and supply zones, support and resistance zones. supply becomes demand and vice versa. Support becomes resistance and vice versa.
NSE:BANKNIFTY
by IIT-Trader
1
FASP levels for Bank Nifty 10/07/2023The FASP for BankNifty is listed for 10-07-2023. 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
07 Jul '23 Post Mortem on BankNifty - Gap down on monday?Banknifty was diverging with Nifty50 early in the day. When N50 was rallying till 10AM, BN was just holding ground unable to go up. The fall that followed was when both of them had correlation. BN was showing weakness yesterday also, esp in the 14.05 to 15.10 move yesterday. Today BN after opening gap down could not even climb back to yesterday's close level. 3 strong red candles at 10.40 to 10.50 really helped the bears today.  But there was a frustrating period where BN was not going down or up - just staying flat. i.e from 10.55 to 14.10. In fact the recovery from 14.05 to 14.55 of 192pts gave some additional momentum to push down the prices, we lost 242.95pts due to this. 1hr TF Yesterday we discussed about a empty band formed due to the gap up on 03 Jul. The first priority for the bulls would be to defend the lower end of this band to push the prices up. Similarly if the bears can break the lower band with a gap down open on Monday, it will give them immense momentum.
NSE:BANKNIFTYShort
by viswaram
Banknifty Trade Setup for 07-07-2023BankNifty Important intraday levels to watch for 07-07-2023 #Support: 45250. Short if candle closes below 45250 #resistance: 45420. Long if candle closes above 45420 #Targets on downside after break of support. Target 1= 45000 Target 2= 44720 #Targets on upside after break of resistance. Target 1= 45648 Target 2= 45750 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
06 Jul '23 Post Mortem on BankNifty ExpiryWeekly Analysis BankNifty Between the last expiry & today, banknifty has gained 923pts ~ 2.08%. The rally not as neat as Nifty50 but more than enough to get the job done. Remember BN hit a new ATH this week. Today's Analysis  BankNifty did not follow N50 initially, for a noticeable time BN was hinting at a sideways move. HDFCBk started the day in red, ICICI & Kotak was looking to rally but the other major banks were not that excited at start. If you notice, when N50 hit a new ATH, BN was still not able to get through the recent swing high. Still BN managed to close the day with gains of 0.42%. At 14.15 seeing the huge green candle, i even thought we might cross the 45500 levels today. What BN has done today is to defend the recent support level. I have also drawn the 44778 line to show the recent level from where we have a breakaway gap. When the interest rates rise, the banks come under severe stress as the NPAs could rise. Having said that US02Y is at 5.06% something not seen for the last 15 years. And the last time we had something like this a recession followed. The banks in India are still on cloud 9, as RBI has not allowed the interest rate of bonds to exceed the 7.2% as of now!
NSE:BANKNIFTY
by viswaram
FASP levels for Bank Nifty 07/07/2023The FASP for BankNifty is listed for 07-07-2023. 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
FASP levels for Bank Nifty 06/07/2023The FASP for BankNifty is listed for 06-07-2023. 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
05 Jul '23 Post Mortem on BankNiftyBanknifty's chart was looking quite different from that of Nifty50 today. This might be because of the -3.18% fall in HDFCBK. Finnify was looking weaker as the HDFC also weighed its -3.07% loss. Earlier in the day N50 was struggling to stay green after this duo tanked. BN followed a falling channel today, the rally in last 30mts made a difference but was not standing out just like in N50. Seems like the technical analysis may not work till the HDFC-HDFCBK merger saga is over. Delisting of HDFC will happen on Jul 13th NSE will have to reconfigure the index weights of HDFCBK after the merger. The unusual up and down moves for these 2 stocks may be resultant of that, and until we have clarity - its better not to take positional bias. 1hr TF BN has not closed the island gap yet, even though there has been some cooling off from the ATH levels. The price action so far is not helping in taking a bearish position yet. Again it is best we wait till the merger completes so that we can trade with absolute clarity.
NSE:BANKNIFTY
by viswaram