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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
Banknifty Trade Setup for 05-07-2023BankNifty Important intraday levels to watch for 05-07-2023 #Current price: 45283 #Support: 45230 Short if candle closes below 45230. #resistance: 45400 Long if candle closes above 45400. #Targets on downside after break of support. Target 1= 45000 Target 2= 44880 Target 3= 44700 #Targets on upside after break of resistance. Target 1= 45650 Target 2 = 45920 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 trade plan for 05-07-2023Banknifty trade plan depends on the opening levels. Since market closed where it opened, but movement was volatile at rejection near to day's high. A good and safe buy would be above today's high and also if price sustain above it. A sell would be good when Price give breakout of today's high and fails to sustain above it i.e false breakout. Either way, tomorrow can be base building for expiry day. Please do like share and follow me for more learning content & motivate me by acknowledging my post
NSE:BANKNIFTY
by The_SharkTrader
04 Jul '23 Post Mortem on BankNifty BN chart is interesting today, again just like N50 we had a falling 45mts open wherein BN lost 0.8% to go below prev. close. From there it reversed and then rallied 1.46% ~ 655pts to hit a new ATH of 45655 by 13.30 mainly due to the rally in SBIN, KOTAKBANK. PNB +5.94%, FEDERALBANK +3.49% even though their weightage on the index is not that heavy. Again the PUT writing was similar to N50, at a time we had all the PEs and CEs in green today (very rare). The call writers were searching for a opportunity to catch the reversal, even though we had a fall of 0.97% ~ 441pts between 13.30 to 14.25 — nobody would have really capitalized on it. 1hr TF BN chart pattern unlike N50 was not compelling me to call for a top yesterday. But today I think it is showing some signs of a nearby top formation. The fall in the 13.15 hourly candle quite nearly showed the exhaustion. But these are different times & markets are really going up. The breakout rally sure does have some mileage & it will take some time for a good reversal to come.
NSE:BANKNIFTY
by viswaram
Banknifty Trade Setup for 04-07-2023Banknifty Important intraday levels to watch; #Current price : 45176 #Support : 45090-95 Short if candle closes below 45090. #resistance: 45250 Long if candle closes above 45250. #Targets on downside after break of support. Target 1= 44880 Target 2= 44720 Target 3= 44500 #Targets on upside after break of resistance. Target 1= 45350 Target 2 = 45500-45520 Target 3 = 45650 Follow us for more such information and educational ideas. Give it a like if you like the idea. Queries will be answered in comment section.
NSE:BANKNIFTY
by InvestyourAsset
03 Jul '23 Post Mortem on BankNiftyBN had a different style of price action today comparing with N50. The open was gap-up & the rush to hit the HOD at 09.55 was similar. But what followed from there had minor changes. 1. The fall of 0.69% ~ 312pts from the top did have an impact on the momentum 2. Unlike N50, BN did not persist at the HOD levels after the first retracement. N50 had 3 more attempts at the top, it even ended at the top. One of the reason would be surge in stocks like ITC & RELIANCE which are not part of BN. From the options flow I could not detect any aggressive shorts getting written for BN unlike N50 - so I am not calling a top for BN today! Tomorrow's Finnifty expiry might really set the tone for banknifty as well. And the HDFC-HDFCBK merger, delisting & relisting has to be contained. If HDFCBK assumes 44 to 46% in banknifty & Finnifty - it wont look good from an index management perspective. Quite sure the officials will do something on it soon. 1hr TF Today's island formation really stands out, unlike N50 the other 3 days are not perfect islands as BN has closed the gaps quite cleanly. The nearest support is at 44068 ie 1100pts below. These are uncharted territory & the price behavior could get even more volatile. Always remember to wear your options trading seat-belts for BN :)
NSE:BANKNIFTY
by viswaram
Banknifty Trade Setup for 03-07-2023Banknifty Important intraday levels are as follows, #Support: 44700 Short if 15 minute candle closes below 44700. Scalpers may use 5 minute candle closing. #resistance: 44790 Long if 15 minute candle closes above 44790. Scalpers may use 5 minute candle closing. #Targets on downside after break of support: Target 1= 44600 Target 2= 44450 #Targets on upside after break of resistance: Target 1= 44880 Target 2 = 45000 Follow us for more such information. Give us a like if you appreciate the idea. Queries will be answered in comment section.
NSE:BANKNIFTY
by InvestyourAsset
Banknifty daily analysis for 03/07/23.A bullish candle on the weekly time frame, show some positivity in the indian markets and the indices are forming new ATH. Banknifty has given a nice movement and closed n around 44750 levels. It has been giving gap up and momentum after even the gap up. On daily charts, market has crossed the 20 ema and given nice momentum of 1100+ points in previous week. The market will follow the up move and can give another 1500-2000 points moves in coming days. India VIX is still trading around 10 points. If the volatility increases then there are chance of a retest. Watch the VIX and let market create a new ATH as a benchmark. Support :- 44650, 44500 Resistance :- 44800, 45000 (fib levels). Extended fibonacci is taken for finding the resistance levels. Watch for the market to take a dip. Buy on dip is the current scenario of the market. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
Banknifty Trade setup for 30-06-2023Banknifty Important intraday levels are as follows, #Support: 44260 Short if 15 min candle closes below 44260. #resistance: 44500 Long if 15 min candle closes above 44500 #Targets on downside after break of support: Target 1= 44090,44000 Target 2= 44000 Target 3= 43850 #Targets on upside after break of resistance: Target 1= 44650-44670 Target 2 = 44790-44810 Target 3 = 44900-44920 Follow us for more such information and give us a like if you like the idea.
NSE:BANKNIFTY
by InvestyourAsset
30 Jun '23 Post Mortem on BankNiftyComparing with N50, banknifty did close the gap-up opening. Looking at the opening minutes I felt BN had more inclination to fall into the trading range of the previous day, but the way in which NiftyIT was surging - BN would have changed the mind to play along. BN also hit a new all time high of 44787.1 today, but the thrust to go up was not as convincing as N50. HDFC-HDFCBK may be the primary reason that these indices has got a new-found passion to outperform. Well we had 2 news flow in IndusInd and Federal Bank which helped it jump more than 3%. The one aspect in today's price action was the helplessness of the bears, they tried to bring down BN on 2 occasions but did not get enough crowd support.  The good news that came in was "Indian banks' gross bad loans fall to a 10-year low of 3.9%: RBI's Financial Stability Report". One news which looked scary was "Bank of America nurses $100bn paper loss after big bet in bond market". I am not sure if the SPX & SPF has priced this in. Something is not adding up, either the US FED rates are too high or the Indian RBI rates are not high enough. We have dichotomy in the financial sector - India vs US. 1hr TF BN has 2 islands vs 3 for N50. The new support level is now 44443 below which we can expect some range-bound trade. As it stands situation is very favorable for the bulls to continue the dream run.
NSE:BANKNIFTY
by viswaram
Banknifty trade plan for 30/06/2023Nifty is at ATH but BN yet to close above ATH. It still shows the attempt buy bulls, but struggle here is for real. there is a possibility to open gap up go lower on intraday and then reverse from resistance turning to support and close above ATH. combining it with nifty a pull back for retest is due, so that makes sense. Let bears digest the fact they failed, and then play safely directional. Now buy on dip is confirmed, so if any gap down also it will be a buy.
NSE:BANKNIFTYLong
by The_SharkTrader
#BANKNIFTY - POSITIONAL VIEWBankNifty, the banking index in the Indian stock market, currently shows a promising setup for short selling. Based on technical analysis, it is recommended to consider initiating short positions within the range of 44508-44722. This range is believed to offer favorable selling opportunities in the market. The primary profit targets for this short-selling strategy are identified at 43950 and 43605. These levels are derived from careful analysis of historical price patterns, support and resistance levels, and other relevant market indicators. Achieving these targets would result in potential gains for traders who choose to capitalize on this opportunity. To manage the associated risk, it is crucial to implement a stop loss at 45067. A stop loss serves as a predetermined price level at which the short position is automatically exited to limit potential losses. By adhering to a disciplined risk management approach, traders can protect their capital in case the market moves against their anticipated direction. Furthermore, it is important to note that traders have multiple avenues to take advantage of this opportunity. They can either short BANKNIFTY JULY FUTURES, which involves selling futures contracts tied to BankNifty, or alternatively, they can opt to buy BANKNIFTY JUL 45000PE options. The latter refers to purchasing put options with a strike price of 45000, expiring in the last month, to benefit from potential downside movements in BankNifty. Engaging in short-selling or buying put options can provide traders with an alternative approach to capitalize on the anticipated decline in BankNifty. It is worth considering these strategies for potential gains while keeping risk management in mind. Please note that investing or trading in the financial markets carries inherent risks, and it is essential to conduct thorough research and seek advice from qualified financial professionals before making any investment decisions.
NSE:BANKNIFTYShort
by DamisInvestments
Banknifty daily analysis for 30/06/23.Banknifty on the daily charts has formed a doji near the high and finally crossed but couldn't sustain above 44500 levels. Market after a gap up opening came for a gap filling and consolidated whole day being expiry in the second half. There was both side movement as there was expiry and option premiums too where volatile whether it was call or put. During the last hour, market touched the new ATH and came for selling touching 44250 levels from 44500. Though, there was a bullish moving average crossover but market couldn't sustain above the resistance levels. On 15 minutes charts, market took support around the 20 EMA and closed above both the moving averages. Support :- 44200, 43950 Resistance :- 44425, 44500 Market is sustaining near the higher levels. Watch for the market testing and forming new highs. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade