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Bankniftytrend

BankNifty Intraday Support & Resistance Levels for 03.09.2024On Monday, BankNifty opened with a gap up, reaching an open-high of 51579.50 before closing at 51439.55. BankNifty is now above the 51316 level, which is the 61.8% FIBO retracement. If it sustains above this level, we might see a rally towards 51750 and beyond. The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains sideways. Support Levels: Near Minor Demand/Support Zone (15m): 50984 - 51073 Near 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 (Current price inside the zone) Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Intraday Trade Setup For 3 Sep 2024BANKNIFTY Intraday Trade Setup For 3 Sep 2024 Bullish-Above 51600 Invalid-Below 51490 T- 52000+ Bearish-Below 51250 Invalid-Above 51360 T- 50735 BANKNIFTY has closed on a flat note once again with slight gain of 0.17% gain today. Index is just sideways with spikes. Till now index has not gained momentum. It is just momentum less. VIX needs to rise above 15 or else it will become hell for directional traders. 51600 and 51250 are intraday levels for tomorrow. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 51600 then we will long for the target of 52k+. For selling we need a 15 Min candle close below 51250. T- 50735. 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 02.09.2024On Friday, BankNifty opened with a gap up, reaching a high of 51466.55 before closing at 51351. With BankNifty now above the 51316 level (61.8% FIBO retracement), sustained trading above this level could trigger a rally towards 51750 and beyond. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Minor Demand/Support Zone (15m): 50984 - 51073 Near 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 (Current price inside the zone) Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Intraday Trade Setup For 2 Sep 2024BANKNIFTY Intraday Trade Setup For 2 Sep 2024 Bullish-Above 51470 Invalid-Below 51360 T- 51850 Bearish-Below 51250 Invalid-Above 51360 T- 50770 BANKNIFTY has closed on a slight bullish note with 0.82% gain today. After breakout of 50800 on 22 Aug , it was discussed that index is approaching 52k in the coming days. We have reached 51466 and rest can be gained this week. Overall index is volatile and sideways. Directional move with momentum is still void. 51470 and 51250 are intra levels for tomorrow. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 51470 then we will long for the target of 51850. For selling we need a 15 Min candle close below 51250. T- 50770. 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
Nifty & Bank Nifty Analysis: Mixed Signals in the Final MinutesIn the last 30 minutes of yesterday's trading session, we saw a significant volume spurt in both NSE:NIFTY and NSE:BANKNIFTY , yet prices remained within a tight range. While NSE:NIFTY was trying to hold its ground with buyers stepping in, NSE:BANKNIFTY faced notable selling pressure. This divergence could be key in predicting tomorrow’s market movement. NSE:NIFTY managed to stay steady despite the volatility, suggesting that investors are cautiously optimistic about its prospects. The increase in volume without a substantial price change indicates a tug-of-war between bulls and bears. If NSE:NIFTY manages to break above its immediate resistance, we could see a bullish move. However, if it fails to maintain its support, a pullback could be on the cards. NSE:BANKNIFTY , however, showed visible selling in the final minutes, highlighting a lack of confidence in the banking sector. This selling pressure, coupled with the tight range, suggests that traders are uncertain about the near-term outlook. If NSE:BANKNIFTY breaks below its current support level, it could signal further downside risk. On the other hand, a recovery above resistance could reignite buying interest. What to Watch Tomorrow: With both indices ending the day in a tight range but showing different momentum, tomorrow's session could be pivotal. Watch for a breakout in NSE:NIFTY to confirm a bullish bias or a breakdown in NSE:BANKNIFTY to signal potential weakness. Global cues and overnight economic data will also play a crucial role in shaping market sentiment. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Market conditions are subject to change, and past performance is not indicative of future results. Always conduct your own research or consult with a professional before making any trading decisions.
NSE:BANKNIFTY
by Stable_Logic
Weekly Market Forecast: Nifty & Bank Nifty Set for Major Moves!Nifty and Bank Nifty are poised for a strong upside move if they break their respective resistance. Nifty Resistance : 25300 - 25500 , Above this should open doors for 25800-26200 levels soon!! If Nifty does not clear 25500 then it will be considered as double top pattern. Currently Nifty is also showing negative divergence in daily chart. Bank Nifty has given a trendline breakout, looking for a strong movement above its resistance zone 51400 -51700, above this it will try and test previous ATH levels. if fails then should see 50990-50500 levels again.
NSE:BANKNIFTYLong
by Nimble_Pesos
BankNifty Intraday Support & Resistance Levels for 30.08.2024On Thursday, BankNifty attempted for the third time this week to break above the 51316 level (61.8% FIBO Retracement). It reached a high of 51368.95 but failed to sustain and closed at 51152.75. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near 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 (15m): 51303 - 51369 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 PriteshPalan
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 PriteshPalan
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 PriteshPalan