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Bankniftytrend

BankNifty Intraday Support & Resistance Levels for 08.07.2024On Friday, BankNifty opened gap-down, found support at the 125m demand zone (51,996 - 52,379) mentioned in the last post, and bounced back but did not fully recover due to a lack of buying pressure, closing 443 points down at 52,660.35. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (125m): 51,996 - 52,379 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
Nifty & Bank Nifty Analysis For Next Week 08-12 July 2024In this video, we'll discuss about Market's Last Week Movement and we will try to analyze Coming Week's probabilities in Nifty, Banknifty and other segments too. Whether you're a seasoned trader or just starting in the stock market, this analysis will help you in Learning about Market. Let's get right into it! ✅I hope you liked the analysis. Be sure to hit that LIKE. 👍Like | 💬Comment | 👥Share Disclaimer : All views and charts shared in this video are purely for knowledge and information purposes only. Trading is Very Risky Business and it should only be done with proper Knowledge. It is very important to do your own analysis before making any investment based on your own personal circumstances. #TheStockMantra #MarketAnalysis #LearnStockMarket
NSE:BANKNIFTYShort
by TheStockMantra
BankNifty Intraday Support & Resistance Levels for 05.07.2024BankNifty opened gap-up and made a new all-time high of 53,357.70 but stayed within the previous day's range, ending flat with just a 14-point gain. The weekly and daily trends (50 SMA) remain positive. Support Levels: Near 125m Support/Demand Zone: 51,996 - 52,379 Near 75m Support/Demand Zone: 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near Small Supply/Resistance Zone: 53,139 - 53,222 (tested yesterday) Currently, there are no additional supply zones seen on the chart.
NSE:BANKNIFTY
by PriteshPalan
#Banknifty directions and levels for July 4th.Bank Nifty has the bullish sentiment and made a new high in the previous session. If you look at the structure, you can see many patterns there, such as the flag pattern, cup & handle pattern, and cypher pattern. But here also, the market suggests that if it rejects around the immediate resistance or if the gap-up doesn't sustain, then we can expect a 23% to 38% retracement in the minor swing. After that, if it finds support at either the 23% or 38% levels, then we can expect consolidation followed by a rally continuation. A correction will occur only if it breaks the 38% Fibonacci level. If it breaks, we can expect the next targets to be 50% and 78%. Alternatively, if the gap-up sustains or if it consolidates around the immediate resistance level, then the rally will continue further.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 4 Jul 2024BANKNIFTY Intraday Trade Setup For 4 Jul 2024 Bullish-Above 53260 Invalid-Below 53150 T- 53835 Bearish-Below 52800 Invalid-Above 52910 T- 52350 BANKNIFTY has closed on a bullish note with 1.77% gain today. It opened with a big gap up and post 10:30 AM index went in very small range. Since it has closed at ATH level after 6 days. Tomorrow above 53260 there can be a good move 53260. Potential targets can be till 54370, 53835 as midway target. Below 52800 there can be bearish grip however it is less probable. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 53260 then we will long for the target of 53835 and 54370. For selling we need a 15 Min candle close below 52800. T- 52350. 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
A Breakout in HDFC can take Bank Nifty to one more High? July 243rd July, 2024: Bank Nifty Elliott Wave Analysis The impulse that started on June 4th after the election day crash is still ongoing and progressing through waves 1, 2, 3, 4, and 5. Bank Nifty has completed waves 1, 2, and 3, and currently, we are in wave 4 (at present, we're not considering further extension scenarios of wave 3). HDFC Bank & Bank Nifty: HDFC Bank has a 28.38% weightage in the Bank Nifty index, and currently, HDFC is standing at a multi-year breakout level. We shared the HDFC Bank analysis a few weeks ago; please check the link below. Buy Entry Points: Wait for a good dip near the 51600-51800 range and check if the price forms a W pattern and gives a breakout above the TS, KS & Cloud in Ichimoku. Exit Points: We have to wait for the wave 4 low point to determine the wave 5 target. We will update the status here. Stop Loss: 100-150 points below the wave 4 low point. We will update once we get confirmation. The risk-to-reward ratio will be great because wave 5 is expected to cross 53K. Note: This trade is not active yet. Confirmation is always good for entry and exit. Disclaimer: We are not SEBI registered. The content presented here is based on personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:BANKNIFTYLong
by WaveMoku
Banknifty prediction for today 03 JULYAs we discussed, BANKNIFTY opened in the channel resistance zone. And the market started falling till 52000. If we look at the chart now: the market is trading in the downside channel in a flag pattern. It might complete the Flag and Pole pattern. If the market takes support from 52000, a good bullish momentum can be seen to the upside. The market is getting ready for the upside. Support levels: 52061, 51809, and 200 EMA and 51292 Resistance levels: 50 EMA, 52609, 52850, 53000 If we look at the OI data: PCR = 0.71, which has changed from 0.87, shows that bears are increasing their position while bulls wind off some of their positions. The market can move in either direction, as per the OI data. 52000 is a good support point, whereas 52500 and 53000 are good resistance points as having good CE writing. The morning 15-minute direction will determine the market direction. Reason: RSI ~ 40 indicates a bearish structure in the market; if breaks to the downside, it can give a good bearish momentum. EMA(200) < Price < EMA(13,50) shows bearishness, and the market can retest the 200 EMA. PCR = 0.70 shows that the market is mildly bearish. Price < VWAP shows a bearish market structure. Verdict: Sideways or Bullish Plan of action: The morning 15-minute direction will determine the market direction. Sell 52000 CE and Sell 52000 PE (Hedge it with 20/- premium); once the direction is confirmed, exit in the opposite position.
NSE:BANKNIFTYShort
by finnova_
BankNifty Intraday Support & Resistance Levels for 03.07.2024BankNifty bounced from the 15m Demand Zone mentioned in the last post, rallying over 200 points from the day's low. However, selling pressure in most BankNifty constituents (except HDFCBANK) closed 406 points down at 52,168.10. Both the weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (75m): 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near Minor Resistance/Supply Zone (5m): 52,374 - 52,472 Far Resistance/Supply Zone (15m): 53,060 - 53,181 Keep an eye on 52,735 in the 15m chart; any big green candle above this level may signal the start of a bull rally if sustained.
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY prediction for tomorrow 2nd JULYAs we discussed, BANKNIFTY opened a gap-down and took a reversal till EMA(50) and spent sideways in 2nd half. If we look at the chart now: The market has taken resistance again at 50 EMA (30-min TF). Right now, the market is consolidating in the marked channel. I expect the market to consolidate one more day, and as it is forming a FLAG and POLE structure, it is upside going to give momentum till 53500 as a target. Also, the market is in the process of forming HNS at the top, which might lead to a fall. The market is probably going in both directions. Support levels: 52181, 51809, and 200 EMA and 51295 Resistance levels: 53009, 53500 If we look at the OI data: PCR = 0.87, which has changed from 0.64, shows bulls are increasing their position and bears wind off some of their positions. 52500 is Max-pain. 53000 is the strong resistance level, with maximum CE writing, and 52000 has strong PE writing, which is going to provide strong support. The market does not have a clear direction on either side. It breaks will give nice momentum. Reason: RSI ~ 40-60 indicates sideways momentum. Price > EMA(13,50,200) shows bullish structure. PCR = 0.87 shows that the market is mildly bearish. Price > VWAP shows a bullish market structure. Verdict: Sideways or Bullish Plan of action: wait for the market to break on either side. Sell 52500 CE and Sell 52500 PE (Hedge it with 20/- premium); exit a loss-making position once it breaks.
NSE:BANKNIFTY
by finnova_
#Banknifty directions and levels for July 1st.BankNifty experienced a solid correction in the previous session. If you count the sub-waves, it is in the 5th sub-wave. Here, if the initial market takes a pullback or finds support around the immediate support level (50%), we can expect a 38 to 61% pullback wave. Alternatively, if there is a solid decline initially, the correction could continue, meaning the 3rd wave extension may continue. If that happens, we can expect the correction to continue with some minor pullbacks.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY predeiction for today 01 JULYAs we discussed, BANKNIFTY opened sideways and retested 53000 levels, which started to fall and gave a nice bearish momentum. If we look at the chart now: The market has broken the resistance to the downside with a good bearish momentum. Support levels: 52023, 51830, and 200 EMA Resistance levels: 50 EMA, 52403, 52689 If we look at the OI data: PCR = 0.64, which has changed from 1.32, shows bears are making their position and selling high points. So, some correction can be expected here. 53500 is Max-Pain. I am expecting a correction in the market till 200 EMA. Reason: RSI < 40 falling and also having divergence, which might lead the market to some correction. EMA(200) < Price < EMA(13, 50), which indicates the market can take some correction till 200 EMA. PCR = 0.64, which shows that the market is strongly Bearish. Price < VWAP shows a Bearish market structure. Verdict: Sideways or Bearish Plan of action: wait for 15 min candle. Let the market take resistance at 13 EMA or 50 EMA. Once you see the direction bearish. Sell 52400 CE (Hedge it with 20/- premium)
NSE:BANKNIFTYShort
by finnova_
Nifty & Bank Nifty Analysis For Next Week 01-05 July 2024In this video, we'll discuss about Market's Last Week Movement and we will try to analyze Coming Week's probabilities in Nifty, Banknifty and other segments too. Whether you're a seasoned trader or just starting in the stock market, this analysis will help you in Learning about Market. Let's get right into it! ✅I hope you liked the analysis. Be sure to hit that LIKE. 👍Like | 💬Comment | 👥Share Disclaimer : All views and charts shared in this video are purely for knowledge and information purposes only. Trading is Very Risky Business and it should only be done with proper Knowledge. It is very important to do your own analysis before making any investment based on your own personal circumstances. #TheStockMantra #MarketAnalysis #LearnStockMarket
NSE:NIFTY
by TheStockMantra
BANKNIFTY SETUP TRADE WIH 1:5 RISK REWARD BANKNIFTY SETUP TRADE WIH 1:5 RISK REWARD A good falling detected on BANKNIFTY It's showing a fall due to these reason 1. It's following THE 1D trendline here 2. It's ready to break the neckline 3. In day chat it's showing the heavy bearish pressure Just grab out will your own risk With a small amount Stay connected Stay happy Bande mataram Follow for more BANKNIFTY SETUP TRADE WIH 1:5 RISK REWARD A good falling detected on GOLD It's showing a fall due to these reason 1. It's following THE 30 M trendline here 2. It's ready to break the neckline 3. In day chat it's showing the heavy bearish pressure Just grab out will your own risk HOLD IT FOR NEXT DAY CARRYFOREWRD With a small amount Stay connected
NSE:BANKNIFTYShort
by tradergyan01
#Banknifty directions and levels for June28th.BankNifty's structure is a little different. The 5 waves are finished, and it's progressing into a correction. Corrections have many variations. I explained two variations: 1- If the initial market declines, we can expect a 38% correction. After that, if it finds support, we can expect a range market to rally continuation. In this scenario, the correction will continue only if it breaks the 38% Fibonacci level effectively. If it breaks, then we can expect 50% to 78% as the next targets. 2- The alternate variation is a flat correctional variation. If the market sustains the gap-up and pulls back, the level of 53247 to 53320 will act as a strong resistance. If the market is rejected there, we can expect a correction. If you want confirmation of the correction, use the EMA20 and the 38% Fibonacci level breakout sentiment.
NSE:BANKNIFTY
by Manickamtraders