Still have my same view on Bank nifty , market may be pump upside and retest the resistance zone and after that again fall is expected. please check the levels...
All the best, be profitable....
This is my personal view and it is only for educational purpose.
As we discussed in our last analysis, it has been in the up-channel. Yesterday, it did give a very lazy sideways move and then tried to go higher, but in the last 30 minutes, bearish sold like anything. and took control of the market. But if we look at the OI data, PCR is 0.82, which is neutral. And the chart channel has broken to the downside. I am expecting a...
Today BankNifty opened with a gap-up and after consolidating near our buy level 48400 it went up towards 48630 and 1st and 2nd Targets were done on buy side.
For tomorrow, if BankNifty sustains above 48650, we expect to see further up move towards 48770 and upper marked levels. On the other side, if BankNifty breaks 48400 on the downside, we may see 48280 and...
The FASP for BankNifty is listed for 29-12-2023. 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...
The FASP for BankNifty is listed for 26-12-2023. 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...
Banknifty Prediction for Tuesday and Next Week
BEARISH Trend & Strong Trending move is expected
I have marked the support and resistance levels in the chart which you it yours and plot the levels on your chart. Also I have marked the direction which Im expecting next week and for tuesday.
Demand and Supply Zones - When price breaks the zone, Demand zone will...
BankNifty Analysis
The trades on BankNifty were more practical and appropriate to the situation we have at hand.
4mts chart link - click here
We opened in line and then tested the top of the ascending channel from 10.03 to 12.03. There was rejection at those levels which took BN quickly to the bottom of the channel. We spent 13.43 to 15.11 at the lower end...
Banknifty has been facing resistance at 48000. according to the OI data, 48000 has PCR 0.33, which is very hard resistance to break. 47500 is the intermediate decision point from which it can fall or take support. Today, it was mostly New CE writing and PE roundoff, which shows a bearish trend is nearby. Also, an ascending triangle pattern is formed; if it breaks...
Bank Nifty seems very weak compared to Nifty. Also, today, the sentiment seems bearish. So, going along the trend I'm expecting profit booking and a big fall. I've marked the trendlines and my positions on the chart. My SL is close above 47870-47880
The FASP for BankNifty is listed for 22-12-2023. 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...
Market consolidate in the range 48000-47000 if break the resistance we can see a bullish run and if break the 47000 then we can see a 46200.
All Types of Investments / Trading are subject to market risk......
Strong support at 47000 if price come that level then we can see a again buy on dip opportunity.. also market remain to fill gap 47500-47000 level.. if break the 47000 then we can see next support..
next support 46200..
As we discussed, Banknifty yesterday had a performant sideways moment. By looking at the chart now, 48000 has a huge resistance point, as OI data also shows huge CE writing at 48000 with PCR of 1:3. I expect it to be sideways because 48000 has good resistance with price-action and OI data. And 47500 has multiple support points such as EMAs and price action.
...
NSE:BANKNIFTY
DATE: 20.12.23 DAY: Wednesday
Time Frame: 15mint
ABOVE 47910
Possible Rise Till 48000 - 48200- 48550+
BELOW 47800
POSSIBLE FALL TILL 47710 - 47550 - 47400
STRONG SUPPORT OF 50DAY EMA.
PLEASE DO FOLLOW IF YOU LIKE OUR ANALYSIS.
The chart indicates 15 min time frame. These Levels act as Support and Resistance according to position of price. These are strictly for Intraday Trading only. Execution only after break out and close above the Resistance zone or break down and close below the Support zone.
These levels act as support and resistance. You have to trade according to level breakout...
BankNifty important levels to watch are as follows
#Support: 47800
Sell below: 47800 only on 15 minute candle closure below the level.
Target 1: 47670
Target 2: 47500
#Resistance: 48000
Buy Above: 48000 only on 15 minute candle closure Above the level.
Target 1: 48230
Target 2: 48500
=> # Remember each level will act as a support and resistance...
Strong support at 47000 if price come that level then we can see a again buy on dip opportunity.. also market remain to fill gap 47500-47000 level.. also market follow the bullish horizontal channel..
All Types of Investments / Trading are subject to market risk......
As we discussed, Banknifty yesterday was sideways while the day was quite volatile. People who Sold 48200 CE and bought 48600 CE would have been in profit. Now, if we see the chart, it took resistance at the line we drew yesterday; now, I am expecting it to touch level 48100 again and then make a double top and fall.
Reasons:
48100 will be providing a nice...
