Banknifty on the weekly close has given a hammer candle and has retraced from 61.8% levels. It has given a slow progress after testing the ATH and is lagging the other index. There are chances of it giving a nice move this week, if it starts trading above fibonacci level. There is a parallel channel consolidation and if it clears the resistance zone around 48k...
As we discussed, BANKNIFTY yesterday is "Bearish if it breaks to downside AND sideways in the RANGE." it could not break to the downside. It stayed in the range, resulting in a little bullish but inside the range. There was a minor trendline inside the range, which got a breakout, and then the upper range of the region touched, and some bearishness was seen from...
Bank Nifty is forming Rising wedge formation, now Bank Nifty is ready for a fall of 650+ points in next few sessions. Keep an eye on given levels. Be Safe Trade Safe. This is my Personal View and It is only for Educational Purpose .
Chart Analysis: The banking stock in focus has been on a solid uptrend, showcasing consistent strength in recent sessions. After a healthy retracement, the stock has now initiated a new momentum move, providing an enticing entry point for traders seeking short-term opportunities. Technical Indicators: Uptrend Confirmation: The stock's established uptrend is a...
As we discussed, Banknifty has been moving in the range. Yesterday, it tried to break it to the downside, but the bulls came into power and again pushed back into the channel. Today, it opened a gap up and took resistance to the trendline, mostly having a sideways day. Again tried to break it to the downside, but the Bulls again pulled it back. Now, it's in the...
#Banknifty Banknifty still has a bearish sentiment, but here also, if the gap-up sustains, we can expect further pullback continuation. On the other hand, if it rejects around the 38% (immediate resistance), or if the initial market declines, then it might turn into a range market. Structurally, it might break downside. But we could wait for the proper breakout,...
The FASP for BankNifty is listed for 10-01-2024. 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...
As we discussed Banknifty bearishness yesterday, it opened a Gap-up and then took resistance at 200 EMA, then it fell with quite a nice volume. Also, it did break the pattern to the downside. Also, 47400 was acting as a very nice support but has been broken with good volume and selling pressure. The volume of those candles was very demanding. If we look at the OI...
Bank Nifty is still in channel, it will not go anywhere until breakout or breakdown of channel. Here is some levels as per my view. This is only for educational purpose.
As we discussed yesterday, Banknifty could not break to the upside. it stayed inside and fell heavily. As looking at the chart structure has broken outside the pattern to the downside. I am expecting it to fall more till level 46950. also, OI data PCR = 0.60 shows super Bearishness in the market. You can see the OI chart, which shows the MAXPAIN 47500. If it...
Hello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 09/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 47730 – 47760 Important Support and Resistance for the Day... Support - Resistance - Support-1: 47380 Resistance-1: 47730 Support-2: 47200 Resistance-2: 47890 Support-3: 46950 Resistance-3:...
Last, we discussed Bank Nifty on the 3rd of January. It took very nice support from there and gave a very nice target, as expected. For tomorrow, as we can see from the charts, it has prepared an inverted HNS pattern. If that breaks to the upside, it's going to give us a very good target of 49000. But on the other hand, it might also take resistance from here and...
Market will go up and fall again in next week as per price action, here is some levels as per my opinion. This is only for education purpose.
Today BankNifty opened with a gap-up above our buy level of 47800 and gave rally towards 48280 hitting all our targets on the buy side. BankNifty is looking bullish for tomorrow and positional basis until trading above 48250. For tomorrow, if BankNifty breaks 48250 on the upside, we expect to see 48370 and upper marked levels. On the other side, if BankNifty...
Banknifty has given a fall in daily charts, closing below the round number figure of 48k. It is sitting around 50% fibonacci levels. Either it will retest 38.2% level or come to test 61.8% levels. Major Support levels :- 47675, 47460 Tomorrow is weekly expiry and today itself has given a 470 points fall. If the market remain bearish the lower levels can be...
BankNifty opened flat today and after making a low around 47480 in first 30 mins it remained in a range to eat premium as today it was a weekly expiry for BankNifty. For tomorrow, if BankNifty breaks 47450 on the downside, we expect to see 47320 and below levels marked. On the other side, if BankNifty sustains above 47800 we expect to see an upmove towards 47900...
As we discussed Banknifty, Banknifty gave a nice momentum yesterday and continues to go bearish today. But as we see the chart structure, it has been preparing for the rising wedge pattern. And right now, it is on the verge of breaking down to the downside. But it can also support 200 EMA and support zones. Here right now, two possible decisions can totally depend...
Bank Nifty next possible move for next few days expected.. rising wedge in small time frame already break, now again forming rising wedge in big time frame if you see the chart. This is my personal view and is only for educational purpose