Bankniftytrading
#HDFC Looking good for today 15 mar 23#hdfc... ✅▶️
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we provide stock as well as option level over their
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TRADING FACTS
PostMortem on BankNifty Today & Analysis of 08 Mar 2023Simply unexplainable moves by NSE:BANKNIFTY from 13.50 today. From the traders fraternity i saw few group of traders planning for long trades - they got immensely rewarded. For some reason i was keeping by bearish bias & hence ended the day quite unsatisfactorily.
Overnight we had a dip in SP:SPX -1.53%, TVC:DJI -1.72%, NDQ -1.22% - seriously i thought we will break down below 41000 level today. Gap down open at 41178 and the first 15mts got me really glued to the screen. For a moment i really thought my 41000/40900 debit spread is going to reward me nicely.
But the 4th and 5th candle shattered my hopes, NSE:BANKNIFTY traced back to the resistance and then stayed there till 13.50
4h 15mts BN was around this support/resistance zone of 41311. When i look back i realized NSE:BANKNIFTY was gaining strength to break out not break down. Initially i felt the resistance of 41311 is getting rejected - but it was not.
Then we had the beautiful 326pt rally that helped NSE:BANKNIFTY hit the next resistance. If there was some more time left may be this would have broken too!
Now i am seriously hurt for all the bears out there, how come our market stays buoyant when the US market sunk in red yesterday. Who is buying? And what makes the Indian stock market so much exciting even at these high valuations?
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The 15mts chart is now looking bullish as we took out 3 resistances from 23 March.
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1hr TF is yet to turn bullish, as of now its still in the range for 40 days now.
The break out or the break down will have immense strength mainly because of the consolidation that has happened for the last 2 months. As it stands most traders would be biased to look out for break out. I personally would like to wait for the range to be broken decisively before changing my bearish bias.
to view all 6 charts in discussion today visit viswaram. com
[INTRADAY] #BANKNIFTY PE & CE Levels(15/03/2023)Today will be a gap up opening in BANKNIFTY. Expected opening below 39950 Level. After opening possible reversal of 400-500 points from 39950 level. And this can extend for another 400 points if it gives breakdown of 39450 level. Any Bullish rally is only expected in case banknifty starts trading and sustains above 40050 level.
Banknifty daily analysis for 15/03/23.Banknifty on the daily time frame has formed a perfect doji. The markets initially were in confusion but tested the lower levels taking support around 39200 levels.
In the second half of the trading session the markets were volatile and consolidated in a 300 points range.
On the hourly time frame, the market has closed below both the moving averages and forming upper wick candle showing some selling pressure.
The market has taken a halt and if the selling continues it can test 38000 levels soons.
On the 15 minute time frame, the market has traded around the 20 ema and closed around the same.
Support :- 39200, 38550
Resistance :- 39520, 39780
Wait for the markets to give a BOS for a bullish move, otherwise, sell on rise is the strategy to fo with.
Wait for the price action near the price levels before entering the markets,
[INTRADAY] #BANKNIFTY PE & CE Levels(14/03/2023)Today will be a gap up opening in BANKNIFTY. Expected opening below 39950 Level. After opening possible reversal of 400-500 points from 39850. And this can extend for another 400 points if it gives breakdown of 39450 level. Any Bullish rally is only expected in case banknifty starts trading and sustains above 40050 level.
PostMortem on BankNifty Today & Analysis of 13 Mar 2023Bears would have been happy today seeing the supports getting broken, i am quite sure the level of shorts in CE options taken to capitalize on the fall we had today. 46500 CE was traded for 1,45,47,750 volume ~ 1.45 crore. This is the farthest away strike in the weekly series.
I would say its a brand new record !
Eventhough we had a -2.27% ~ 920pts drop day, the sentiment was not looking exactly bearish during the opening 10mts. In fact lot of traders were suggesting to go bullish.
Thats when i posted this "The bulls have no fear ! its going to be a suicide…" on banknifty minds
We had a 0.82% ~ 322pts upward move by 09.25 before cracking. And the fall afterwards was a 45 degree fall with literally no pull back.
See the yellow slanting line showing the simple downward move. Psychologically it meant there was very little buying momentum. The reason was the fall in Silicon valley bank in US & the fear that other credit & lending institutions, banks may be impacted.
According to me, the fall we had today was nothing dramatic, after all its just a 3% fall. Just compare it to the beating the US banks are taking in - 70%, 60%, 25% falls in a day.
People still believe Indian banks will not be impacted when US banks collapse - its just wishful thinking. Any bank in any part of the world, if its going down due to liquidity issue, interest rate issue or defaults - it will spread quickly to the other parts of the globe.
The bank under discussion, SVB funds startups, VCs & other tech companies in which a good percentage of talents are from India. If they are fully settled in US and not supporting a family in India or not transacting or remitting to India (they are fine). If not - they will definitely be attached via some local bank here. A job loss or cash withdrawal restriction or moratorium for them in US will definitely create a ripple here too.
SVB's collapse was just because of the rumor that the depositors may not be able to get their money out due to a loss they faced in a bond transaction. If all the depositors run to the bank at the same time to withdraw their balance - the bank will cripple.
In India - if all the NSE:SBIN account holders decide to just withdraw Rs25000 cash all on the same day, it will create a similar scenario. But it will not happen in India, thats because SBI staffs combined at all 17000+ will not be able to attend
45 crore customers within the 8 hours of operations. SBI will not have 11.25 lakh crore as liquid cash anyway, infact its similar to the currency in circulation at the moment.
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15mts TF shows the supports getting broken - the bias has now shifted to the negative side. The good work done from the 27th Feb is now gone in 2 sessions.
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On the 1hr TF we have lots to discuss. Remember over the last few reports we mentioned how NSE:BANKNIFTY is stuck in the range from 27th Jan. Today we had a conclusive break of the 39742 support level on the 1hr TF (although the candle formed is green color)
We also discussed the possibility that how the momentum is going to accelerate because of the time spent in range.
The bearish pattern will continue only if the further trades are taking place below 39742, only then the descending channel pattern makes sense.
Also marked in cyan color the M type pattern formed, again to make sense the further trades has to happen below the 39742 level - otherwise an equally similar W pattern is also visible.
to view all 8 charts in today's discussion visit viswaram. com
nifty prediction bank nifty trade set up for tuesday nifty prediction bank nifty trade set up for tuesday NSE:NIFTY
NSE:BANKNIFTY
Nifty Trend -side ways to negetive
Support -17086
17938
Resistance - 17330
17500
Bank nifty is around 39440 important support if it is saved Supply point 39990
Support 39000 384000
trend negative
Banknifty daily analysis for 14/03/23.Banknifty has finally closed below the 200Dma which suggest a move of a bearish market cycle. The market has closed 920 points lower near the support zone.
If the market starts trading below 39500, the market can fall another 500 points taking support around the round number figure.
On the hourly time frame, a bearish moving averages cross over is there and the market fell more than 1000 points from day's high.
The markets are in sell territory and wait for sell on rise opporunities in this kind of a market.
On 15 minutes chart, the market has taken rejection fromt the 20 ema and huge sell off was there.
Support :- 39500, 39200, 38550
Resistance :- 40340, 40650
Wait for the price action near the price levels before entering the markets.
[INTRADAY] #BANKNIFTY PE & CE Levels (13/03/2023)Today will be a slightly gap up opening in BANKNIFTY. Expected opening 40550 Level. After opening if banknifty sustain above this level then possible upside rally of 400-500 points upto 40950 Level. And this rally can extend for another 400 points if it gives breakout of 41050 level. Any Major downside only expected in case banknifty starts trading below 40450 level.
PostMortem on BankNifty Today & Analysis of 10 Mar 2023Promising price action today if you are bearish. The double top M pattern on the hourly time frame did its job quite nicely today. (Thank god it worked)
But seriously what happened today is no reflection to the handout from US markets. SP:SPX was down 1.85% over night & our NSE:NIFTY is only 1% down. Agree NSE:BANKNIFTY was down 1.87%, but remember SP:SPF were down a whooping 4.1% yesterday.
If you couldnt stand the 1.87% crash in NSE:BANKNIFTY today, imagine what a 4% fall would have looked like. It would have been a blood bath !
This is how today's price action looked like in the 5mts TF. Mega gap down opening at 40805 & a strong red 1st candle. And that was just it - there were no other alarming jumps or panic after that.
NSE:BANKNIFTY stuck to the 40350 to 40600 range after that. And thats the exact reason why the options premium did not hit the moon. In fact
This is how the PE strikes in multiples of 500 traded today. The last 1 hour the premiums started dropping quite quickly, translating to no fear.
To prove the point, check the India VIX its at 13.4%, US VIX is 24.8% which means US VIX is 85% higher than Indian. The fear in US is too high compared to just a normal casual day in India. Why isnt the VIX rising - no idea !
VIX goes up only when there is panic, and as it stands now there is no panic in India. I personally dont prefer to see panic in India, but my point is - If the global markets are facing the pain, it will definitely hit here. And the longer it takes for that, the deeper is the pain.
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15mts TF was not looking bearish yesterday, but the gap down opening and bank nifty's reluctance to close the gap may have just tipped the scale in favor of the bears.
But this is still not enough, 40140 has to be taken out by the next session for the current momentum to continue.
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1hr cements the analysis of yesterday. 39742 has to be taken out in this series for nice fireworks to happen. Today might have just been a warning shot, the real action is yet to come.
I am not predicting, i am pretty bad at that. But how the chart is screaming for a direction for the last 44 days is an indication. The beast called as bank nifty was kept in cage ie between support 39742 & 41624 for the last 44 days. So when the opportunity comes to break away or break down - the distance it travels will be very steep.
FASP levels for Bank Nifty 13/03/2023The FASP for BankNifty is listed for 13-03-2023. 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.
[INTRADAY] #BANKNIFTY PE & CE Levels(10/03/2023)Today will be a gap down opening in BANKNIFTY. Expected opening below 40950 Level. After opening possible further downside of 400-500 points from 40950 level upto 40550 level. And this can extend for another 400 points if it gives breakdown of 40450 level. Any Bullish rally is only expected in case banknifty starts trading and sustains above 41050 level.
Banknifty Possible Trade in Option Day Trading NiftyBank One Hour Chart Analysis with Option Chain Analysis
Support Zones
Frist Support Level For For Long Banknifty - 41180 - 41200
Second Support Level For Long Banknifty - 40885 - 40915
Third Support Level For Long Banknifty - 40770 - 40800
Resistance Zones
First Resistance Level For Short Banknifty - 41700 - 41655
Second Resistance Level For Short Banknifty - 41920 - 41980
Third Resistance Level For Short Banknifty - 42235 - 42275
Importent Signal for Banknifty Trading from Option Chain Data Analysis
Max Pain As per Option Chain Analysis – 41400
PCR ratio as per Option Chain Analysis – 0.73 ( Bearish )
Major Support as Per Banknifty Open Interest Analysis – 40800
Major Resistance as Per Banknifty Open Interest Analysis – 42000
PostMortem on BankNifty Today & Analysis of 09 Mar 2023 ExpiryInteresting moves by NSE:BANKNIFTY today, the closing statement from my yesterday's report said.
"I personally would like to wait for the range to be broken decisively before changing my bearish bias."
Got lucky with the analysis yesterday as NSE:BANKNIFTY was consistently proving me wrong in this calendar month so far. But i am sure you were not expecting a bearish move today - atleast thats not how the day started.
NSE:BANKNIFTY opened at 41532 made a strong 1st candle hit the resistance line at 41624 and then made 2 strong red candles to go lower ~ 41456. From 10.00 there was strong momentum from these levels until 11.40 where it went back to the same resistance level.
An upmove of 220pts and most of them really thought NSE:BANKNIFTY will take out the resistance and hit 42000 today.
Since i was proven wrongly for 4 to 5 occasions this series, i really did not bet against. I took a 41200/41000 debit spread just to hedge some of the OTM puts i sold as part of expiry today.
The biggest blunder that happened was the strike selection, i could have gone with 41300/41200 instead of 41200/41000 as the entry cost was not that much. But the last 30mts move did not really move the needle for 41200, but it benefited 41300 as it went in the money. Just got unlucky today.
Unlike other traders, i do not prefer to post my winners and say i got X amount of money by doing Y amount of trade. Mainly because
Its just cheap bragging
No body learns when you win, real learning comes from losers.
Coming back to the topic, the fall from 11.45 to EOD was 424pts ~ 1.02%, not a steep fall but with 2 legs. I was expecting this yesterday, but the move from 13.50 to close yesterday went against by short bets.
Again today's move has not done anything different in the 5mts TF but its quite interesting in the 1hr chart - we will analyze it soon.
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15mts TF shows consecutive rejection at the 41624 resistance level. The chart is not bearish in the 15mts TF yet, for that to happen 40140 support level has to be broken. That is quite some distance away.
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1hr chart has made an interesting double top (M pattern) at least for now. Both the tops at a crucial resistance level is a good action item too.
But from 27th Jan we are still in this broad range, if in the coming days bank nifty takes out the supports in quick succession then we can look forward for a huge fall. Thats mainly because of the time spent in consolidation.
to view the 4 charts in today's discussion visit viswaram. com
FASP levels for Bank Nifty 10/03/2023The FASP for BankNifty is listed for 10-03-2023. 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.
[INTRADAY] #BANKNIFTY PE & CE Levels(09/03/2023)Today will be a gap up opening in BANKNIFTY. Expected opening above 41550 Level. After opening if banknifty sustain above this level then possible upside rally of 400-500 points upto 41950 Level. And this rally can extend for another 400 points if it gives breakout of 42050 level. Any Major downside only expected in case banknifty starts trading below 41450 level.