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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. --- 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. --- 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
NSE:BANKNIFTY
by viswaram
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.
NSE:BANKNIFTY
by TheMamboMomentum
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. --- 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. --- 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.
NSE:BANKNIFTY
by viswaram
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.
NSE:BANKNIFTY
by SathishChandrasekaran
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
NSE:BANKNIFTY
by manojshinde27
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. --- 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. --- 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
NSE:BANKNIFTY
by viswaram
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.
NSE:BANKNIFTYShort
by SathishChandrasekaran