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BankNifty Intraday Support & Resistance Levels for 06.08.2024On Monday, BankNifty dropped to 49719 (day low) and entered the Weekly Demand/Support Zone mentioned in the last post. Weekly zones are considered strong, and if the low is not broken, we might see a bounce from the Weekly Demand Zone. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) has now turned negative. Support Levels: Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (75m): 51367 - 51609
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 05.08.2024On Friday, BankNifty opened gap down, made a low of 51087.85, and bounced 500 points from the bottom before closing at 51350.15 (213 points negative). The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 51023 - 51082 Near Demand/Support Zone (30m): 50851 - 50951 Near Demand/Support Zone (75m) for weekly trade: 50707 - 50960 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (30m): 52103 - 52340 Far Supply/Resistance Zone (30m): 52559 - 52783 Major Supply/Resistance Zone (75m): 52880 - 53188
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 01.08.2024On Wednesday, BankNifty remained within the previous day's range, not crossing the high or low of Tuesday, and closed at 51553.40. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is sideways. The support and resistance levels remain the same as mentioned in the last post: Support Levels: Near Demand/Support Zone (15m): 51023 - 51082 Near Demand/Support Zone (30m): 50851 - 51951 Near Demand/Support Zone (75m) for weekly trade: 50707 - 59960 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (30m): 51793 - 51923 Small Supply/Resistance Zone (5m): 52238 - 52315 Major Supply/Resistance Zone (75m): 52880 - 53188
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 31.07.2024On Tuesday, BankNifty remained within the range of the previous day, not crossing the high or low of Monday, and closed at 51499.30. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is sideways. The support and resistance levels remain the same as mentioned in the last post: Support Levels: Near Demand/Support Zone (15m): 51023 - 51082 Near Demand/Support Zone (30m): 50851 - 51951 Near Demand/Support Zone (75m) for weekly trade: 50707 - 59960 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Small Supply/Resistance Zone (5m): 52238 - 52315 Near Supply/Resistance Zone (15m): 51317 - 51462 Major Supply/Resistance Zone (Daily): 51874 - 52587
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 30.07.2024On Monday, BankNifty opened gap up and entered the major daily supply/resistance zone mentioned in the last post. It then fell almost 1200 points from the top due to selling pressure from the daily supply zone, closing at 51406.25 with just a 110-point gain. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 51023 - 51082 Near Demand/Support Zone (30m): 50851 - 50951 Near Demand/Support Zone (75m) for weekly trade: 50707 - 50960 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Small Supply/Resistance Zone (5m): 52238 - 52315 Near Supply/Resistance Zone (15m): 51317 - 51462 Major Supply/Resistance Zone (Daily): 51874 - 52587
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 29.07.2024On Friday, BankNifty opened gap down but recovered over 950 points from the bottom, closing near the 15m supply zone mentioned in the last post at 51295.95. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 51023 - 51082 Near Demand/Support Zone (30m): 50851 - 50951 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (15m): 51317 - 51462 (already tested on Friday) Major Supply/Resistance Zone (Daily): 51874 - 52587
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 25.07.2024On Wednesday, BankNifty took support at the 15m demand zone mentioned in the last post (linked in "Related Ideas" below) and bounced to 51512 before closing at 51317, losing 461 points. BankNifty broke the demand zone mentioned previously, and the nearest major support seen on the chart is at 50253, where there is a weekly support zone. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is now sideways. Support Levels: Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (30m): 52559 - 52783 Far Supply/Resistance Zone (30m): 53064 - 53188 Major Supply/Resistance Zone (75m) for weekly trade: 52880 - 53187 Note: While writing this, GIFTNIFTY is showing 220+ points negative, indicating a potential gap down opening.
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 24.07.2024On Tuesday, during a highly volatile budget session trading day, BankNifty opened gap up inside the 15m supply zone mentioned in the last post and fell 1200 points, making a day low of 51342.65. It re-entered the Daily Demand zone but did not break the bottom of the zone, closing inside with a 502-point drop at 51178.30. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is now sideways. Support Levels: Near Demand/Support Zone (Daily): 51138 - 51934 Minor Demand/Support Zone (15m): 50597 - 50825 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (30m): 52559 - 52783 Far Supply/Resistance Zone (30m): 53064 - 53188 Major Supply/Resistance Zone (75m) for weekly trade: 52880 - 53187
NSE:BANKNIFTY
by PriteshPalan
Banknifty Budget day prediction for tomorrow 23 Jun Tomorrow is Budget Day; all of you must be very excited to trade it. Usually, there is not very good price action for such events. The market might take turns from pivotal points marked on the chart. If we look at the chart now: The market is trading near the support zone and support trendline. The market has been consolidating for the last 15 days. If the range breaks to the upside, the market can give very nice momentum. Support levels: 52210, 52086, 51778, 51318 Resistance levels: 52657, 53178 If we look at the OI data: PCR = 0.59 shows bearish market behavior. There is good CE writing on the 52300 and 52500 levels, which shows a good resistance point. On the other hand, 52000 and 51500 is having good PE writing that might give good support points. Reason: RSI is 40 - 60, showing the market is going to be a sideways structure. Price trading at 200 EMA can go either way. PCR = 0.59 shows that the market is Bearish. Price > VWAP shows a Bullish market structure. Verdict: Neutral Plan of action: Wait for 15 min candle. Wait for good price action on the 52000 levels, and make your positions accordingly.
NSE:BANKNIFTY
by finnova_
19 Jul 2024 - 5 swings on 18th, lower volatile day today vs N50BankNifty Stance Neutral ➡️ Last week we published a report stating our neutral stance, and that held up quite well as we stayed range bound this week. Technically we lost 0.23% ~ 119pts to end the week at 52221. NiftyIT was the main reason N50 swung up and down this week, esp on the 18th. BankNifty was not spared either, we had 5 swings that particular day and anyone who ran a non-directional straddle would have faced the heat. Luckily my algos went into some technical error & I got stopped out by 09.52 with a minor loss. We dropped 231pts ~ 0.44% in the first 4 minutes, then rose 502pts ~ 0.96% by 10.11, then fell by 484pts ~ 0.92% by 11.31. Then we had a super rally of 595pts ~ 1.14% till 14.27. From this peak, we fell 226pts ~ 0.43% till close. It makes me believe such intensity of madness usually appears at TOPS. BN was quite decent today, we fell only 0.67% today compared to 1.095 on N50, but we do not have enough clues to go short yet. We would like to begin the next week with a neutral stance and then take it up from there.  The budget is on Jul 23 and the volatility will definitely go up on Monday, I have not decided whether to run the algos on Monday & Tuesday or not.
NSE:BANKNIFTY
by viswaram
BankNifty Intraday Support & Resistance Levels for 19.07.2024On Thursday, BankNifty attempted to cross the crucial level of 52750, mentioned in the last post, and made a high of 52782.75 but failed to close above it, ending 223.90 points up at 52620.70. A decisive crossover above 52750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (15m): 52187 - 52315 Near Support/Demand Zone (75m) for weekly trade: 51749 - 51966 Major Support/Demand Zone (Daily): 51138 - 51934 Resistance Levels: Near small Supply/Resistance Zone (30m): 53064 - 53188
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 18.07.2024On Tuesday, BankNifty stayed within a 300-point range before closing 59 points down at 52,396.80. A decisive crossover above 52,750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (75m) for weekly trade: 51,749 - 51,966 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near small Supply/Resistance Zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPalan
Banknifty Prediction for today 15 July 24As we discussed, BANKNIFTY opened in a sideways zone, touched the resistance zone, and then fell nicely and ended up sideways closing. If we look at the chart now: The market is trading near the support zone. The market is making the Inverted HNS, which shows the market can be bullish today as the right shoulder is yet to complete. I have illustrated both cases in the chart to see if it opens a gap down or a gap up. Support levels : 52086, 51778, 51318 Resistance levels : 52657, 53178 If we look at the OI data: PCR = 0.78 shows mild bullish market behavior. There is good PE writing on 52000 levels, which shows a good support point. On the other hand, 52500 has very good resistance as having the highest CE writing. Reason: RSI is 40 - 60, showing the market is going to be a sideways structure. Price > EMA(13, 50, 200) shows bullisah market structure. PCR = 0.78 shows that the market is mildly bullish. Price < VWAP shows a bearish market structure. Verdict: Neutral Bullish Plan of action: wait for 15 min candle. Wait for good price action on the 52000 levels, and make your positions accordingly.
NSE:BANKNIFTY
by finnova_
1
Banknifty prediction for tomorrow 12 July 24As we discussed, BANKNIFTY gave a good bearish momentum and recovered it from 51800. If we look at the chart now: The market was trading in a falling wedge pattern, which indicates the upcoming market is bullish. The market has broken it to the upside. The market has given a very sharp recovery from 51800. I can expect some more bullishness in the upcoming market. Support levels: 51770, 52032, 200-EMA, VWAP Resistance levels: 52625, 53100 If we look at the OI data: PCR = 0.81, which has been increased from 0.60, shows a good streak of bulls. Most of the positions have been rounded off today. There is not much new position addition, only the removal of existing positions. Reason: RSI ~ 60 shows the Bullish structure of the market. Price > EMA(13, 50, 200) shows bullisah market structure. PCR = 0.81 shows that the market is bullish. Price > VWAP shows a bearish market structure. Verdict: Bullish Plan of action: Sell 52300 PE (hedge it with 20/- PE option)
NSE:BANKNIFTYLong
by finnova_
2
BankNifty Intraday Support & Resistance Levels for 12.07.2024On Thursday, BankNifty opened gap-up but fell to 51,749, touching the daily and 75m demand zones mentioned in the last post. It then recovered 590 points from the low. The weekly and daily trends (50 SMA) are still positive. Support Levels: Near support/demand zone (75m): 51,510 - 51,784 (tested) Major support/demand zone (Daily): 51,138 - 51,934 Resistance Levels: Near small supply/resistance zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPalan
Banknifty Prediction for today 11 july 24As we discussed, BANKNIFTY gave a good bearish momentum with a grand bearish opening of 300 points in 5 min. #Time Frame = 30 min If we look at the chart now: The market is trading in the range of 52276-52676. The market is continuously taking support at 200 EMA. Also, the 1D time frame market is receiving support at 13 EMA, which might lead the market to go bullish. Support levels: 52032, 51610, and 200 EMA Resistance levels: 50 EMA, 52625, and 53100 If we look at the OI data: PCR = 0.60, which shows a bearish behavior in the market. The market can be seen as very volatile between 52032 and 52625. 52200 is maxpain. Higher levels have higher CE writing than PE writing on lower levels. Reason: RSI ~ 40 shows the bearish structure of the market. Price = EMA(13, 50, 200) shows market is at make and break point. Soon, there will be good momentum on either side. PCR = 0.60 shows that the market is bearish. Price < VWAP shows a bearish market structure. Verdict: Neutral Plan of action: The morning 15-minute direction will determine the market direction. Once the direction is confirmed, make the position according to case 1 or case 2 as provided.
NSE:BANKNIFTY
by finnova_
1
BankNifty Intraday Support & Resistance Levels for 11.07.2024On Tuesday, BankNifty broke the past three days' low, falling to 52,075 before closing at 52,189.30. It has remained within the 125m Demand Zone for the fourth consecutive day. The weekly and daily trends (50 SMA) are still positive. Support Levels: Near Support/Demand Zone (125m): 51,996 - 52,379 (currently trading inside the zone for the last four days) Far Support/Demand Zone (75m): 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near small Supply/Resistance Zone (30m): 53,064 - 53,188
NSE:BANKNIFTY
by PriteshPalan