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Bankniftytrading

PostMortem on BankNifty Today & Analysis of 12 APR 2023NSE:BANKNIFTY held out to a perfect trend continuation from yesterday.  If we notice closely the pull backs were not strong enough to break the momentum. I sincerely thought we will have a reversal or a bearish day today and had taken PE debit spreads to capitalize.  If we analyze today's pattern closely NSE:BANKNIFTY took some time to take out the 41455 resistance. It was hanging around this SR zone for quite some time. Only at 13.20 did we break away from the area. And once we broke that, banknifty started another leg of rally to the next resistance of 41624. Also notice the pullback from 13.40 to 14.55 gave it good confidence as the support of 41455 held. Now why was I bearish - mostly I went with the contrarian decision to go short before the US CPI data. If you track the US markets you can see SPX is well above the bearish channel. This might give the US agencies to release a hotter CPI data as the markets will be ready to absorb it. So I applied the same logic here, if we were to crash - then the 40800 to 40700 levels looks quite possible.  95% of traders would have made money, excluding people like me as the current situation is of a break-out. And you should always stick to the main trend to keep your pockets full of cash ! What I did today is to go against the trend, try to me a little adventurous. --- 15mts trend is again favoring the bulls. I am so very sure 95% of traders will be looking out for bullish opportunity in bank nifty as the chart cries bullishness. --- On the 1hr chart, a resistance breach of 41624 is going to give bulls immense momentum. Last time we were at that level we had a double top M pattern formed i.e. on 6th and 9th March 2023. And then you know what happened - we fell all the way to the 38690 support level. So tomorrow is going to be a very serious day to have either a decisive breakout from these levels or fall back to range. The jump on 31st March has made all the difference to this chart and has given the bulls a new hope.
NSE:BANKNIFTY
by viswaram
#Banknifty"Trading day, April 12th: The global market indicates a neutral start with a bullish sentiment. If the initial market takes a sharp pullback, we can expect a rally continuation. and if the pullback takes place slowly and consolidates, that's a sign of distribution, and we can expect a correction when it rejects the major resistance zone. On the other hand, if the initial market declines sharply, we can expect a correctional wave. that should break fib level 38%. and if the market breaks 38%, then we can expect a minimum of 78% to the extension level of 1.27. or if the decline doesn't break 38%, that's a sign of a range market to rally continuation.
NSE:BANKNIFTY
by Manickamtraders
#BANKNIFTY - POSITIONAL VIEWThe Banknifty index has been demonstrating an upward trend on a daily basis, although at Damis Investments, we anticipate a potential short-term decline. This is attributed to the fact that the current momentum appears to be primarily driven by news rather than sound market fundamentals. As a means of substantiating our bearish stance, we would like to present you with key resistance levels that can be utilized to establish short positions. Notably, the Banknifty spot's significant resistance ranges from 41450-41650 and 41800-42000. Hence, one can take advantage of this opportunity to initiate a short position within the given range, targeting 40950-40750 with a small stop loss at 42100.
NSE:BANKNIFTYShort
by DamisInvestments
1
PostMortem on BankNifty Today & Analysis of 11 APR 2023 Banknifty had a mega pre-open boost by NSE:KOTAKBANK , it was up 5% by 09.10 which indicated the bears will get their bones crushed today. Contrary to the popular belief, Kotak bank has the 3rd most weightage to bank nifty above SBIN and NSE:AXISBANK even though kotak has lower net interest income. And today's 5% gap up due to the MSCI news spelled real trouble. Bank nifty opened gap up at 41232 and had a massive 1st 5mts candle. There was a price swing of 297pts in the opening 5mts. What it created was a break away gap negating the downward sloping pattern from 6th. The jump in volumes also proved we had a sentiment shift too. Was the MSCI news a big trigger - I do not think so, but it really helped the bulls breakout from the bearish grip. Also it would have spoiled few CE seller's Finnifty expiry. There was also a healthy rally to take out the resistance at 41311, NSE:ICICIBANK , NSE:SBIN all helped to close bank nifty with a lead of 531pts. --- 15mts is showing the break out quite decently. And this is formed above the channel top line which will give it good momentum. Yesterday we discussed the possibility that the bears may want to take control and bring NSE:BANKNIFTY to the range - well, that is not going to happen very soon. The last time we had a breakaway ie on 31 Mar 2023, the volume spiked. Today also the volume was considerably higher than usual. And also note, the stock market is heavily skewed in favor of bulls. Everybody like to make money and push prices up. Only few people like me prefer to find contrarian trends - mostly on the bearish side. --- 1hr is showing the trend channel breakout quite clearly. See the break away from the purple downward sloping line. Till yesterday we had a hope to get trades below 40700 levels and stay in the bearish medium-term trend. The only hope for bears now is to watch out for the US CPI data tomorrow. A massive sell off could bring back NSE:BANKNIFTY back to realistic levels of 40700 or lower. --- I will also be covering Finnifty charts on Tuesdays wherein we have the weekly expiry NSE:CNXFINANCE has a similar chart to bank nifty, that makes it quite interesting to take expiry trades just as we do on Thursdays. The W pattern indicated in blue highlight was formed in the same similar fashion. Today's trade happened above the recent swing high ie from 06 Mar 2023, this again is a breakout style of trade. Just as when NSE:BANKNIFTY falls below the 40700 levels, we can expect finnifty to fall below the 18246 SR zone and continue its range trade. But if that does not happen soon, then the only way we can look is to handle the bullish momentum.
NSE:BANKNIFTY
by viswaram
Banknifty Future Intraday viewIf Banknifty Future rejects from 41080/41040 then one can short at the level with proper price action. Target-40835,40750, 40365 SL paid Bank nifty  may begin the day flatly positive and try to test 41040/41080. Expect some sideways movement and consolidation in this area. Keep an eye out for a move to 41224 if Bank Nifty maintains its position above 41150. Be cautious if Bank Nifty falls below 40750 as it may hit 40365 on the downside. So, anticipate a swing market today and employ the hit-and-run scalping method. 
NSE:BANKNIFTY1!Short
by biplab86
PostMortem on BankNifty Today & Analysis of 10 APR 2023I am making some changes in the chart layout from today's report. It will be in white background going forward. This is after the feedback I got from the kindle publishing team that images with dark layout will look awkward when made into paperback. note: I will still continue to use the dark-mode chart for my trading purpose, only for the reports I will be using the white-mode NSE:BANKNIFTY opened today at 41116, it might look as a gap-up open but when the price action is considered it looks perfectly in line. The entire market was quite subdued today, the option premium at the lowest when we compare an average Monday. The good-friday holiday might have played its part, but I still think the premiums were restrictive for any option sellers to have made money today. I waited till 10.45 to find any mis-priced option, the moment I saw the premiums were all dead - I called it a day. I was just waiting on the sidelines just waiting for something to happen. From 10.10 to 11.35 NSE:BANKNIFTY tested its first support at 40880 but did not break it. The rejection came at 11.40 when a short surge helped it gain 192pts. The real move came from 12.45 to 14.15, in fact the 5mt candle at 14.15 had a bid dip. In spite of this the options premium hardly felt any threat. I am referring to OTM premiums which captures the threat more evidently. Now we have the 40880 support broken decently as the close was below that level. The next support 40704 did not break today, below which the bears would have exerted some additional pressure. --- 15mts TF does not look bearish yet, NSE:BANKNIFTY might be taking a small break before the bullish continuation.  It could also mean a short term top if the further trades are held below the current levels. Ideally this should be the case wherein the bears get some control on the market & drive up the premiums. --- 1hr was in a perfect downward trend till the moves from 27 March 2023 to 06 April 2023 ruined it. As it stands we have just entered back the top level of the descending channel. Further trades below this channel will give the bears lot of confidence to push down the bank-nifty prices & drive up the options premium. The implied volatility which is staying so low is causing all the trouble for the option sellers.
NSE:BANKNIFTY
by viswaram
FASP levels for Bank Nifty 11/04/2023The FASP for BankNifty is listed for 11-04-2023. 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
BankNifty-10/04/2023-LevelsHello Traders, Welcome to SriTrader5121 ____________________________________ BankNifty-10/04/2023-Levels IMPORTENT ZONE FOR THE DAY : 40942 - 40973 Possibilities of Today market open... Possibility 1: FLAT If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R and SELL with the Rejection of R. (or) If market open as a FLAT and moves to DOWN-Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility : GAP-UP If market open as a GAP-UP and moves to UP-Side then BUY with the Support of PDH and SELL with the Rejection of PDH. (or) If market open as a GAP-UP and moves to DOWN-Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility 3: GAP-DOWN If market open as a GAP - DOWN and moves to UP-Side then BUY with the Support of IMP and SELL with the Rejection of IMP. (or) If market open as a GAP-DOWN and moves to DOWN-Side then BUY with the Support of PDL and SELL with the Rejection of PDL. _______________________ Happy Learning and Trading Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE , it motivates me to do analysis and do share with your trading friends. SHORT FORM &FULL FORM ------------------------------- 0.5-> 0.5% Swing PDH-> Previous Day High PDL-> Previous Day Low PDC-> Previous Day Close PDO-> Previous Day Open PWH-> Previous Week High PWO-> Previous Week Open PWC-> Previous Week Close PWL-> Previous Week Low D_S-> Day Support D_R-> Day Resistance W_S-> Week Support W_R-> Week Resistance W_O-> Week Open W_C-> Week Close LW_O-> Last Week Open LW_C-> Last Week Close IMP -> Important R@1, R@2,R@3... ->Resistance-Zones S@1, S@2,S@3... ->Support-Zones MS -> Major Support SH -> Swing-High SL -> Swing-Low DT -> Double Top DB -> Double Bottom TT -> Triple Top TB -> Triple Bottom TF -> Time Frame BO -> Break-Out RR -> Risk-Reward SL -> Stop-Loss GAP -> The area b/w Previous Day Close and Today Open Blue Color Text(S@*,R@*)-> Act as Major Support or Resistance-Zones(Be Alert, Chances to Market take Reversals )
NSE:BANKNIFTY
by SriTrader5121
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