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Bankniftytrading

Trade in Banknifty by Support & Resistance , Low Risk Trading Banknifty Support and resistance levels are price levels on Chart where the buying and selling pressures are expected to be strong Banknifty Support Zones 1. 40935 - 40960 2. 40680 - 40700 3. 40350 - 40380 Banknifty Resistance Zones 1 .41215 - 41245 2. 41435 - 41460 3. 41660 - 41690 Importent Signal for Banknifty Trading from Option Chain Data Analysis Max Pain As per Option Chain Analysis (Banknifty Expiry Targets ) – 41000 PCR ratio as per Option Chain Analysis – 0.95 ( Bearish ) Major Support as Per Banknifty Open Interest Analysis – 41000 Major Resistance as Per Banknifty Open Interest Analysis – 41300
NSE:BANKNIFTY
by manojshinde27
PostMortem on BankNifty Today & Analysis of 06 APR 2023 ExpiryYesterday we discussed in detail the RBI MPC possibilities. If you read the article - I was expecting a hike. Surprisingly RBI maintained status quo today. Even when the inflation is at the elevated level a pause in rate hike should not be taken very lightly. An optimist would say it is an excellent decision that RBI is offering some breathing space for the financial markets. But a pessimist will see the decision today as an evident threat to the banks & lenders. In his speech RBI Governor emphasised how the global financial institutions became victim to the rate hikes carried out in advanced economies without naming SVB, Credit Suisse. If we apply the same logic here, it means the banks in our country may be having immense pressure coping up with the NPAs and issue of new loans. They may be at the verge of a breakdown that RBI decided to give them time to recoup. Inflation might have got a free hand here to run a little loose for now. It will be interesting to see how RBI reacts the next quarter. The upcoming summer season, rise in power/electricity utilization, depletion of coal reserves, less than normal monsoon are all parameters RBI takes into consideration along with the projections for crude oil. Download the RBI monetary policy report click here. --- Coming back to our NSE:BANKNIFTY analysis for today. We discussed the possibility of a pull back to the range level which should encourage the bears. Well that came early in the day. I must say we were on track to break the crucial 40880 support & the RBI surprise played spoilsport. Just after the declaration, banknifty jumped 321pts ~ 0.79% to break away from the support level. This ensured the 41500 CE which was just 700pts away from ATM spike 293%. i.e a surge of 18pts. 41000 CE went in the money and surged 208% ~ 151pts in the same time. I wanted to bring to your attention percentage wise 41500 CE gave a higher ROI vs 41000. Whereas 42000 CE did not even go past 93%. Just so that you know how to find the sweet spot ! By 11.10 the momentum faded and we started falling, and we were trading slightly negative between 13.45 to 14.25 before closing flat. I cannot really say the reversal at 11.10 came from the resistance level of 41311 as NSE:BANKNIFTY did not reach there. Even after these events the OTM of call as well as puts were totally dead today. The premiums were very low ruining any chances of arbitrage opportunities as part of weekly expiry. So personally I had a losing day! --- 15mts TF looking strong and bullish. Since it's a holiday tomorrow we would need to wait till Monday to know the next move. If the global markets fall in the next 2 sessions, then we may have a gap down. If everything stays normal then NSE:BANKNIFTY would be rejoicing the resistances it has torn apart & would like to keep moving up. --- 1hr TF has formed the perfect W pattern which leaves us with a question - will bank nifty continue to break the bearish trend it started in 14 Dec 2022 ?
NSE:BANKNIFTY
by viswaram
Sell Banknifty @ CMP 40895 sl 41041Banknifty now at make or break level. For todays session, banknifty upside resistance at 41100-41200 zone. Possible some correction from this zone. Downside support zone at 40400-40500 zone. Closing above 41200++ resistance strong breakout rally Yes once REVERSAL happens from peak !!!!! Today eyes on 41242 (future level) for 20 minutes if trades u can see 41368------------------41400 level !!! Short slowly slowly slowly ♥For 24 hours Buy PE of 41300-41400 ♥Will show unexpected fall ♥Todays gain is because of only HDFC BANK which contributing almost 330point on +side
NSE:BANKNIFTYShort
by riticonsultancy
#BANKNIFTY - POSITIONAL VIEWBased on the current market trends and volume analysis, it appears that the Banknifty spot may experience a reversal in the near future, particularly in the 41250-41650 range, with a downward direction expected. The observed volume suggests a bearish momentum in the market. To potentially capitalize on this market movement, it may be advisable to consider buying a Month end expiry option, such as the BANKNIFTY 27 APR 42000PE, or to short futures from within this range. The potential target for this strategy could be 39100, with a recommended stop loss set at 43100. By carefully considering these market factors and implementing a well-informed trading strategy, investors may be able to successfully navigate this market movement and potentially generate positive returns.
NSE:BANKNIFTYShort
by DamisInvestments
FASP levels for Bank Nifty 05/04/2023The FASP for BankNifty is listed for 05-04-2023. 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:BANKNIFTYLong
by SathishChandrasekaran
PostMortem on BankNifty Today & Analysis of 03 APR 2023We had a perfect trend continuation day today, see the purple line - the trades were in the same degree of slope as on the previous working day. Banknifty opened at 40695 today and then slowly started climbing. We were in a small range of 40550 to 40690 between open and 12.05 - this was mainly because of the resistance level at 40704. Once that resistance gave away bank nifty got the confidence to move up. Even still the momentum was lacking.  I really forgot that we have a holiday tomorrow 04 April 2023 due to Mahavir Jayanthi. Only when the options premium started dropping quite strongly I realized there is something wrong. Even before looking the NSE holiday list, I quickly checked the FinNifty expiry day. The symbols showed as 03 Apr 2023. Usually FinNifty expiries are on the Tuesdays, but if Tuesday is a holiday - the expiry will be on Mondays. NSE:BANKNIFTY only gained 0.5% overall today, but the slow upward grind would have given headaches for the option buyers. The premiums were falling faster than the change in delta. After crossing the 40704 resistance, NSE:BANKNIFTY came near the next resistance of 40880 and did not find the power or momentum to cross that. Final close was at 40815 - the bulls have the upper hand now and has really done the hard-work to come back from the lows of 38690 on 16 Mar 2023. At that point in time I really thought we are going to break down, but what really happened was quite opposite to what I hoped. --- We have an imperfect inverted head and shoulders pattern and then a breakaway gap (encircled in yellow). You can also see a purple downward sloping line. The price is just about to hit this purple line. If I bring up the daily chart - it becomes more clear. The downward sloping purple line is the descending channel. I am depicting the bear market move of bank nifty. If this upper channel is broken conclusively then we are out of bear territory. Usually what we see in bear periods are slow grinding downward falls with fast upside surges. These surges are brilliant opportunities to go further short. As per this chart I will be closely watching this space if the big-boys are getting ready for their next round of selling. And I would like to join them in the 2nd phase. Majority of the trading community are looking the current scenario as a bullish rally, I still believe these are relief rallies just to trap the bulls. Well I could be wrong too - stop losses are there for that ! So this new financial year FY23–24 has just started and I am planning to add NSE:CNXFINANCE to the trading arsenal especially the expiry day.  If BSE Bankex option trading opportunity is provided by the brokers - then it will be of great help as Bankex has near 100% correlation with NSE:BANKNIFTY . And since I have spent my 99.99% time learning just 1 index - it will be easier to replicate the same trades. I wish you a happy financial year ahead !
NSE:BANKNIFTY
by viswaram
#BANKNIFTY - 03/04/23 MARKET VIEWBased on the current market analysis, the Banknifty index seems to be exhibiting a bearish trend. Specifically, the price range of 40680-40720 could potentially serve as a reversal point for the market to shift towards lower levels. The expected targets in this case are 40410 and 40230. In addition to this, the trading volume is also providing indications of a downside momentum in the market, which further strengthens the likelihood of a bearish trend. To capitalize on this opportunity, one could consider shorting the market within the suggested range. However, it's important to implement a stoploss of 41050 to limit potential losses in case the market doesn't follow the anticipated trend. Overall, taking into account the bearish trend, reversal points, trading volume, and potential targets, shorting the Banknifty index within the range of 40680-40720 with a stoploss of 41050 could prove to be a profitable trading strategy.
NSE:BANKNIFTYShort
by DamisInvestments
FASP levels for Bank Nifty 03/04/2023The FASP for BankNifty is listed for 03-04-2023. 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:BANKNIFTYShort
by SathishChandrasekaran
PostMortem on BankNifty Today & Analysis of 31 Mar 2023So the fiscal year comes to a close today, but today is the start of April series for banknifty. The first weekly expiry falls on 06 April& the monthly expiry is on 27 April. Hoping that you all had a good financial year 2022–23 and your trading dreams came true. For me - I could say with some what confidence that one of my dream came true. The dream to publish a book. "183 days of Post-mortem on Bank Nifty: Daily Analysis & Chart Reading in Simple English" which is available on amazon kindle I strongly recommend you to checkout my compilation of the daily reports from 04 Jul 2022 to 29 Mar 2023 in this 630 page e-book. The cost of the book is less than 50 paisa/day analysis. --- Today's NSE:BANKNIFTY was totally on fire, with a breakaway gap-up open at 40231 (much above the resistance level of 40131. The first candle itself was strong and in the subsequent candles we had a rising slope with literally no pull back. More or less this was expected, if you refer the last day's report there was mention on the huge surge in traded volumes. Usually that results in a change in sentiment or even just tips the scale in either bulls/bear's favor. Today's chart however did not take out the crucial 40704 resistance - this might be the only thing that the bears can cheer about. 40704 why? It is because thats the higher end of range above which the 1hr TF will lack bearishness - we will discuss that shortly. No other element of technical elements was there in the chart today due to lack of pull back or profit taking. It was a one way slope - so even if I comment on something, it wont be accurate. --- 15mts TF has broken out of range as part of today's price action. The breakout now gives a tint of bullishness to the 15mts chart. Further trades has to be above the swing high we hit today for continuation. --- 1hr chart has all green candles today - another miracle. Which makes me think is today's price behavior partly because of the news/event on Reliance & Jio-Financials? Are the banks happy that Jio-Financials will make the existing credit pie larger? More people will start taking loans due to a possible disruption? Since 1hr TF did not cross above the 40704 or 40880 levels there is still hope for the bears that the range bound trade may continue. Above that we may start looking away from bearish & range bound opportunities & turn bullish.
NSE:BANKNIFTY
by viswaram
FASP levels for Bank Nifty 31/03/2023The FASP for BankNifty is listed for 31-03-2023. 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
PostMortem on BankNifty Today & Analysis of 29 Mar 2023 ExpiryQuite an eventful day today spoiled by the last 30mts surprise. Honestly how many traders were expecting a rally of 340pts between 15.00 to 15.30 - i was not. In fact i was expecting a fall towards the 39400 levels. Lets analyze the trades on the 5mts chart today. Open was inline at 39611 and we tested the resistance level of 39742 in the opening minutes itself. We spent an hour at this support/resistance zone before breaking out. Although the break was temporary. At 10.20 i posted on NSE:BANKNIFTY minds "$BANKNIFTY 39744 if it breaks will give a good push to CE option premiums hoping so !" The rationale of the breakout would be due to the strength bank nifty showed defending lower levels in the opening hour. This would have prompted CE shorts to cover their positions at profit/loss. Why am i saying this - i covered mine at a loss well before 10.00. The candle at 10.20 made a surge of 109pts ensuring 40000 CE jump 171% in the same 5mts. During expiry trading - option buyers are looking for these kind of opportunities & the sellers running away from it. This spike above the resistance did not last that long and we reverted to the mean level in some time. The next 4h 35mts were spent between 39668 & 399913 with no directional bias. At 13.47 i felt that bank nifty will fall below the SR level looking at the price action and posted this "$BANKNIFTY struggling to go up even after the resistance breach for me thats negative !" From that point till 14.55 my analysis was going in the right direction. I had also taken a bearish bet of 39400/39300 debit spread to capitalize my view (which went to zero at last). Honestly i was not at all planned for the last 30mts move. A surge of 343pts in 30mts that too with huge volumes. "$BANKNIFTY sorry had no clue about this last 15mts candle with exceptional volume spoiled the party !" --- What the last 30mts did today was to give the 15mts TF a new bias change, all of a sudden the chart is now not looking bearish at all. If we take out the next resistance the chart will go bullish too. --- 1hr TF shows a W like pattern forming, if we take out the next 2 resistance over the next 3 to 4 sessions - then the chart will lose its bearish view and go back to the range based territory. The volumes on the major banks in the last 30mts which caused a huge surge in the prices may have been year end rebalancing or expiration trades. There are big institutions that take bets even for a year, for eg: the positions for closing of FY22–23 series would have been taken in FY21–22 itself. Since today was the last day of the fiscal series (expiry today). See the cyan markers for the unusual volumes in 6 bank nifty stocks. To see the 11 charts in today's discussion visit viswaram. com
NSE:BANKNIFTY
by viswaram
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