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BANKNIFTY Intraday Trade Setup For 30 Aug 2024BANKNIFTY Intraday Trade Setup For 30 Aug 2024 Bullish-Above 51410 Invalid-Below 51300 T- 51960 Bearish-Below 50930 Invalid-Above 50040 T- 50390 BANKNIFTY has closed once again on a flat note. It was clearly that we will keep non-directional approach inside our buy sell levels. Outlook worked but today was volatile one inside range. Since last 3 sessions index is stuck between 51400 and 50900. Breakout needed for a directional view or else will keep non-directional approach till breakout happens. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 51410 then we will long for the target of 51960. For selling we need a 15 Min candle close below 50930. T- 50390. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BankNifty Intraday Support & Resistance Levels for 29.08.2024On Wednesday, BankNifty opened with a gap down and remained in a narrow range throughout the day, closing at 51143.85, down by 134 points. The weekly trend (50 SMA) is positive, and the daily trend (50 SMA) remains sideways. Support Levels: Far Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Resistance Levels: Near Resistance Level: 51316 (61.8% FIBO Retracement level) Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Already Tested) Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BankNifty Intraday Support & Resistance Levels for 27.08.2024On Monday, BankNifty opened with a gap up, reaching the 125m supply zone and making a high of 51317.85, which aligns with the 61.8% Fibonacci retracement level. It then dropped 200 points from the top before closing at 51148.10. The weekly trend (50 SMA) is positive, and the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 50904 - 50965 Far Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Resistance Levels: Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Tested on Monday) Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
#Banknifty directions and levels for August 26th.Bank Nifty > In the previous session, Bank Nifty also closed with a consolidation structure. > SO, If the gap-up sustains and breaks the consolidation, it could reach a minimum of 51,214 or the 61% Fibonacci level. > The structure is also important here; if it breaks the consolidation with a solid candle, the rally will likely continue with some consolidation. On the other hand, if it moves gradually, it may not have a long rally. > An alternative scenario is similar to Nifty: if the gap-up doesn't sustain or if the market declines initially, then the 38% Fibonacci level will act as support. In this case, after the decline, if it finds support at the 38% level, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 50% level or swing low on the downside.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 26 Aug 2024BANKNIFTY Intraday Trade Setup For 26 Aug 2024 Bullish-Above 51120 Invalid-Below 51010 T- 51640 Bearish-Below 50850 Invalid-Above 50960 T- 50250 BANKNIFTY has closed on a mild positive note with less than 1% gain last week. Last 2 sessions were completely sideways inside 300 points range. 51120 and 50850 are key levels to watch out for breakout. Last week it gave a breakout of daily range breakout of 50700 and 49700 in the higher side. Consolidation after breakout done, now above 51120 index should start a rally of 1000 points. Below 50850 index may dive in intraday. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 51120 then we will long for the target of 51640. For selling we need a 15 Min candle close below 50850. T- 50260. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BankNifty Intraday Support & Resistance Levels for 26.08.2024On Friday, BankNifty reached a high of 51117.85 but retraced to close at 50933.45. Despite breaking above the 75m supply zone, BankNifty closed inside the zone. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. The demand and supply zones are unchanged from the previous post. Support Levels: Near Demand/Support Zone (30m): 50393 - 50507 Near Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Far Support Level: 49660 (Double bottom on the daily chart) Resistance Levels: Near Small Supply/Resistance Zone (75m): 50915 - 51018 (current price is inside the zone) Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BankNifty Intraday Support & Resistance Levels for 23.08.2024On Thursday, BankNifty opened with a gap up, reaching a high of 51080 before closing at 50985.70. Despite breaking through the 75m supply zone mentioned in the last post, BankNifty still ended the day within that zone. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) has turned sideways. Support Levels: Near Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Far Support Level: 49660 (Double bottom on Daily Chart) Resistance Levels: Near Small Supply/Resistance Zone (75m): 50915 - 51018 (current price is inside the zone) Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BankNifty Intraday Support & Resistance Levels for 22.08.2024On Wednesday, BankNifty opened with a gap down but found support at the 30m Demand Zone mentioned in the last post, rallying to a day high of 50772.45 before closing at 50685.55. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) has shifted from negative to sideways. Support Levels: Near Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Far Support Level: 49660 (Double bottom on the Daily Chart) Resistance Levels: Near Small Supply/Resistance Zone (75m): 50915 - 51018 Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 22 Aug 2024BANKNIFTY Intraday Trade Setup For 22 Aug 2024 Bullish-Above 50810 Invalid-Below 50700 T- 51515 Bearish-Below 50300 Invalid-Above 50410 T- 49650 BANKNIFTY has closed with a slight cut of 0.23% today but on a positive note as it has formed a Pinbar candle and closed near day high. 50810 looks like an important level for a bullish trigger as bulls may give breakout in daily TF. Daily TF range of 50800 and 49700 is still intact, time for a range shift now. 51k and 50300 will be key level for tomorrow. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 50810 then we will long for the target of 51515. For selling we need a 15 Min candle close below 50300. T- 49650. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
Bank Nifty Analysis: Head and Shoulders Pattern in the Making?NSE:BANKNIFTY closed relatively flat today amidst some market volatility. However, the pattern forming on the chart does not look good. We are potentially witnessing the development of a Head and Shoulders pattern, which, if completed, could signal a downward move. If this pattern plays out, we may see the index decline towards the 49,640 level. On the other hand, if Bank Nifty fails to form the pattern and continues its upward trajectory, we can see a significant resistance around the 51,900 level. Important Levels: Support - 49640 Resistance - 51900 Traders, if you liked this analysis or have your own insights, please share your thoughts in the comments. I would be glad to hear from you! 👩‍💻 Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Please conduct your own research or consult a financial advisor before making any trading decisions.
NSE:BANKNIFTY
by Stable_Logic
BankNifty Intraday Support & Resistance Levels for 21.08.2024On Tuesday, BankNifty surpassed the 50750 resistance level, reaching a high of 51025 before closing at 50803.15, gaining 434 points. Notably, this is the first time since 2nd August that BankNifty has closed above 50800. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) has shifted from negative to sideways. Support Levels: Near Demand/Support Zone (30m): 50283 - 50423 Far Demand/Support Zone (30m): 49806 - 50017 Far Support Level: 49660 (Double bottom on the daily chart) Far Support (FIBO 61.8% Level): 48858 Resistance Levels: Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
Bank Nifty Analysis: A Critical Juncture for Potential Gains The Bank Nifty is currently at a decisive crossroads, presenting a compelling opportunity for traders. The index has formed a double bottom pattern and appears to be breaking out of its channel, which typically signals a bullish reversal and the potential for significant upward movement. This setup suggests the possibility of substantial gains if the breakout proves strong and sustained. However, caution is warranted. Although the breakout looks promising, it lacks strong confirmation at this stage. There is a risk that the index could fall back into the channel, potentially continuing its previous downtrend. This scenario could offer an opportunity for traders to short the market or adjust their positions accordingly. All critical support and resistance levels have been marked on the chart, providing valuable insights for trading decisions. For those interested in leveraging this volatile period, I will be sharing the important supply and demand levels for tomorrow at market open in the morning. Monitoring these levels closely will be essential for navigating the Bank Nifty’s movements and optimizing trading strategies. Disclaimer: This analysis is provided for informational purposes only and does not constitute financial advice. Trading in financial markets involves risk and may not be suitable for all investors. Please conduct your own research or consult with a financial advisor before making any trading decisions.
NSE:BANKNIFTY
by Stable_Logic