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Bankniftytrading

PostMortem on BankNifty Today & Analysis of 02 MAY 2023Signs of tiredness visible in the price action today. To start with, never expected that our indices will close in green today, even though the momentum is slowing, it is pushing up the bulls inch by inch. Nifty50 was having more positive price action vs banknifty today - that may be because there are 2 more resistance zones to go for Nifty50 to reclaim the ATH whereas I do not have another resistance level for banknifty. Also the NiftyIT was providing some additional support today. If NSE:NIFTY has to go up further, the additional points has to come outside of the financial sector. NSE:BANKNIFTY opened gap-up, but the price action formed is continuous as the first candle retested last closing level. From there we had a narrow band sideways market. For 5h 50mts today we had a narrow traded range of 43362 to 43476. The upside was capped as the buying momentum was missing. The downside was protected as the bulls were quite strong. So literally we did not have any place to go today. Only in the last 1 hr we had some pattern forming indicating a profit-booking or an interim top like formation. Just a minor 180pts fall from HOD. Why I say there could a bit more selling to come is mainly because the volume of credit spreads that were getting created on the call side. --- Nifty50 also had a flattish pattern and unlike the banknifty the last 1 hr selling was not visible. It was a perfect day to get into a straddle today as the opening and closing prices are near same. Nifty50 traded in the range 18136 to 18175 today with no pressure to pick a direction. --- 15mts on banknifty is still bullish pattern. And its looks like a rounded top is getting formed. We would need further trades to happen below 43253 to have a change in bias. --- 1hr is still bullish and we would need a close below 42576 to have a change in bias. I do not have a resistance zone above the current levels. However it is quite unlikely that just banknifty moves up without Nifty50 crossing the 2 more resistance lines. --- NSE:CNXFINANCE expiry special. The open was gapup same like bank nifty and the traded range was again pretty narrow. However the selling pressure in 3 candles via 14.45, 15.00 and 15.15 was quite strong. These 3 came at a time when the options premiums were all near zero, so assuming these were un-windings of the positional trades taken for expiry. I am starting to spend more time on finnifty for Tuesdays as its much easier to trade than just banknifty. Atleast the certainty that the options will go to zero is still there. This is more relevant now as the banknifty options premiums are at their lowest levels. Unless the volatility rises the premiums of banknifty will remain subdued.
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 28 APR 2023I almost believed in everything that happened today, but not after 15.00. The spike seen on the 15.00 5mts candle reminded me of some cryptos that trade out there. Even NSE:NIFTY had that unusual surge. I was monitoring all 8 nifty50 stocks - and could not believe a bit of it. It may been due to the month end rebalancing but it took me a while to get my grip on things. The opening candle was red - just that. There was 1 attempt to break below 26th closing prices - but we recovered pretty quickly from that. For a change the option prices had some zing today making me believe that we are going to have a down day. For 5hr 35mts there was no clear indication of the direction, but the momentum was helping NSE:BANKNIFTY drift higher. And then the 15.00 candle happened. I was checking my twitter feed to see if Russia called off the war or not. What really changed was the way option prices behaved - most of them would have caught off-guard. The premiums jumped 50% to 95% in this quick 5 to 10mts. --- Nifty50 on the other hand was already having a positive momentum right from the start today. The last 30mts move helped it cross the 17976 resistance with ease. I still dont think its a short covering bounce - it should be rebalancing by the institutions. --- 15mts of banknifty is showing a flattish slope comparing nifty50, but do keep in mind it was banknifty that helped nifty crawl out from the fall it had due to NiftyIT from 17th April. --- 1hr has taken out the 43012 resistance today which is another win for the bulls. The next resistance of 43253 was kissed but ran out of time. I know how exactly the bears are feeling like, because I am one of them. Monday will be a holiday, still no one wanted to take the money of the table. Usually such high euphoria wont last - till then its better that bears like me hibernate.
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 26 APR 2023I am sure most of the traders would be surprised with the kind of bullish price action we saw after 10am. Since SP:SPX closed -1.58%, NDQ -1.89% yesterday - most of them including me expected NSE:NIFTY and NSE:BANKNIFTY to close in deep red today.  The gap down opening at 42559 was perfectly at the support level and from there we wont only 163pts down to reverse the direction & sentiment. We had a rally of 1.01% ~ 426pts from the LOD. The price action at the SR level is worth mentioning as we spent 55mts there before breaking out. There is no surprise with banknifty closing in green as bullish is the prevailing trend on the 1hr chart - but to have outperformed the US markets is real something.  Although I do not know what is the reason - it is worth researching on as the US market dips were due to the banking sentiment yesterday - First republic bank, UBS. This literally had no impact on our banks is something thats worth mentioning. --- Nifty50 had a similar chart with banknifty but it looks more positive. It has caught up to the recent swing high of 13th April indicating the weakness in IT may have got overshadowed by other performers. --- 15mts chart is now looking bullish again after yesterday's subdued performance. The next resistance is seen at 43012. The support of 42576 which held its ground today will give the bulls a lot of hope today. --- 1hr is also looking strongly bullish. The independent islands formed by the gap-ups shows the strong momentum too. Although hard to believe - banks in India are proving to be very strong & resilient to global bad news. My question is are the foreign institutional investors also thinking so?
NSE:BANKNIFTY
by viswaram
FASP levels for Bank Nifty 26/04/2023The FASP for BankNifty is listed for 26-04-2023. 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 & Analysis of 25 APR 2023 + Finnifty EXPFor traders who are playing NSE:BANKNIFTY expiries on Thursdays can play the same trades on FinNifty on Tuesdays. The margin requirements are lower and now since the option premiums are staying low - the ROI in finnifty is better than banknifty. Today was a flat day, open was at 42731 and then it was struggling to keep the momentum up. We had a gradual rise upto 42865 by 11.20 and then we started falling.  The fall itself was not convincing, only a 196pts dip & then it got bought into. This time we did not take the swing high but maxed out at 42827 @ 14.40. The second fall was showing a bit more strength but we ran out of time, we had a dip of 220pts from 14.40 to 15.20 Even after all this banknifty still closed in green, up 42pts. The expiry on Fininfty would have played its part which we will discuss shortly. --- 15 mts TF also showing a bit of tiredness after a good session yesterday. Will banknifty protect the 42576 support is what we need to look at. In spite of all the bullishness yesterday I seriously thought we might have a retest of 42576 today. --- 1hr TF has made a rounded top as of now. Its not confirmation of a top as-it-is. We would need further price action to confirm that. The signs of momentum tiredness was visible in last 4 candles of today. --- Coming to the NSE:CNXFINANCE expiry, 18971 SR zone was active today. There were 3 tests on the 15mts TF today. I was ready with the 18900 PUT option but the support break came in very late ~ 15.15 today. At 12.30 the same put option was active and might have continued to be in the money if not for the quick rejection candle at 12.45 wherein it recovered 0.24%. This SR zone was impacting the movements on the banknifty as well. For the expiry traders it was a perfect day as the closing was flat and they would have got the max bang for the straddles.
NSE:BANKNIFTY
by viswaram
BANKNIFTY : Levels for 25th AprilBANKNIFTY opened gapup & took support of zone we marked on chart. after giving good up move its stop at daily resistance mark on chart. Dot to dot point No next it should take 15 min swing support mentioned on chart for further up move. Lets watch candle stick patter & follow price actions. I have given my personal view on this video for Nifty & Bank Nifty. Like, Share, Comment for regular updates. Disclaimer I am not sebi registered analyst My studies are Educational purpose only Please consult with your Financial advisor before trading or investing I may be 100% wrong as its my personal view only.
NSE:BANKNIFTYLong
by ChartsSpecialist
Nifty & Bank Nifty : Dot to dot levels Hello & Welcome, this is nifty & Bank nifty analysis video based on yesterday's video of Nifty & BankNifty. Watch levels we study yesterday & check price action today. I have given my personal view on this video for Nifty & Bank Nifty. Like, Share, Comment for regular updates. Disclaimer I am not sebi registered analyst My studies are Educational purpose only Please consult with your Financial advisor before trading or investing I may be 100% wrong as its my pers
NSE:NIFTYLong
by ChartsSpecialist
FASP levels for Bank Nifty 24/04/2023The FASP for BankNifty is listed for 24-04-2023. 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 21 APR 2023Just a bit of negative bias today - nothing major to be worried about! Banknifty still has outperformed NSE:NIFTY this week. And trust me the chart of NSE:BANKNIFTY is looking strong. Today we opened inline at 42252 had 2 strong green candles and then started falling. From 09.30 to 13.05 we fell 0.99% ~ 419pts - but the options premium did not surge exponentially. Since the India VIX is ~ 11.6 levels the fear in the markets are already at the lowest point. Looking at the downfall momentum gaining traction at 12.05 just after yesterday's swing low was taken out, I felt we may fall below the 41600 level today. Unfortunately that did not happen & my wednesday's opinion now stands corrected. Even after the fall today, bank nifty's chart is still showing bullishness, how the global trade happens today might have a role to play on Monday. --- 15mts is now in a sideways range from 17th. 41968 to 42500 has been the swing this week if not for a blip highlighted in blue. --- This week's price action makes a flag & pole type of pattern (even though not perfect) on the 1hr TF. The chart is not showing any signs of slowing down. We hoped the 41624 support levels will get tested this week - but that scare is now out. What will the bears do now?
NSE:BANKNIFTY
by viswaram
Simple Trade Setup | BANKNIFTY | 19-04-2023 [INTRADAY]Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it. Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout. Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown. All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL. Good trade setup with good Risk reward will be only if we enter from any of zone. ------------------------------------- Trade Setup for 19-04-2023 Most of all the levels and zones remains same as per previous. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level. NSE:BANKNIFTY
NSE:BANKNIFTY
by Trading_hawk
Simple Trade Setup | BANKNIFTY | 18-04-2023 [INTRADAY]NSE:BANKNIFTY Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it. Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout. Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown. All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL. Good trade setup with good Risk reward will be only if we enter from any of zone. ------------------------------------- Trade Setup for 18-04-2023 Most of all the levels and zones remains same as per previous. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:BANKNIFTY
by Trading_hawk
1
PostMortem on BankNifty Today & Analysis of 17 APR 2023NSE:BANKNIFTY really held its cool today! During preopen INFY was showing an open rate of -10%, and everybody would have thought we are going to see a massive sell off today. IT sector in total was in focus today as the INFY even though had not so bad results was quoting at 10% lower circuit. I think I saw it go down to 12.3 or 12.5% - since I do not track the IT index that closely, it did not really bother me. However I was excited to see how bank nifty will react. You might be aware that a sell-off in IT will impact the banks the most. A recession or a job loss in IT would mean a lot of NPAs and loan defaults as IT employees are the main people who take exuberant loans at unbelievable valuations. The opening chaos is very visible in the charts of NSE:HDFCBANK , NSE:ICICIBANK and NSE:AXISBANK . NSE:SBIN had a contradicting pattern and surged ahead. NSE:KOTAKBANK was least impacted- the opening volume was unusual and it had a bright day. At 10.05 bank nifty secured its feet and then started climbing. So this blip stayed only 45mts and you would not believe how the price action from the last session continued today also. The 45mts of downward fall was well negated by what followed. I guess the dip buyers were back and immensely supported for a close +130pts today. It will also meaningful to showcase the Nifty50 chart also, since IT index took a huge beating today, it was visible in Nifty50. There was a recovery post 10.05, but the close was in red unlike the bank nifty. --- The options data also requires special mention today, both banknifty and finnifty options were unaffected by the volatility, the NSE:NIFTY options had a good ride today. At a point I saw VIX hovering around the +10%, seeing the recovery in banknifty, I was immediately convinced the best place to take an option trade was Nifty50 instead of BankNifty. This makes an exciting week ahead. If there is further weakness in IT, it will spill over to the financial sector with a delay. --- 15mts on Banknifty says the uptrend is intact and today's blip has made no special impact. We need a support break of 41624 to get some attention of the bears ! --- 1hr also looking promising for the bulls, the next resistance at 42576. In fact in zerodha's TV chart a day high near this resistance level is visible, I am not sure why its missing in the TV chart directly. And today's price action rejection came at the resistance level only.
NSE:BANKNIFTY
by viswaram
What will be Banknifty's next move?BN is moving explosively and to my surprise broke the 41650 level forcefully. This is the power of 3rd wave. Clearly 3rd is being extended and standing around 170.7 of 1st wave. From this level we can see some minor correction to 41900 level and then it may start it's upward journey again towards 42500 and even to 42850 level. Sooner or later in a few days we may see a sizable correction (3rd wave correction) Now, what is your view? Please levev a comment.
NSE:BANKNIFTY
by kaushikwbslg