I have a bullish Bias in Bank Nifty for today's expiry and expect a pullback and a further move up into the 48000
We have been below this 48K level since that HDFC fall
We also have a huge gap which is yet to be filled
So today and the next two days are a great opportunity to fill those gaps
I use ICT concepts to trade and my analysis is also based on that as...
As we have been discussing, Banknifty double bottom pattern nature in a couple of days. Today, it has broken successfully to the upside.
Now, if we look at the chart data:
The market has broken the double bottom neckline to the upside. There is a higher chance for the market to go upside down. The market path for now is clear till 47500. There is a...
Hi All,
Have mentioned all the necessary levels inside the chart. Hope its self explanatory. As always trade with proper risk management and money management.
Happy Trading.
Banknifty has the same sentiment structurally; we can expect a range market today. The movement will occur only if it breaks either up or downside with a solid structure."
Today BankNifty opened with a gap-up around 46500 which was also a major resistance zone as we mentioned and we saw morning selling towards 46260 odd levels where BankNifty took support and gave a bounce back but overall it was a range-bound day.
For tomorrow, BankNifty has to sustain above 46550 for further upside which can take BankNifty towards 46670 and upper...
I have a bearish bias in Bank Nifty on a daily and a weekly timeframe purely based on the available liquidity pools on the sell side. Again this is purely based on price action and technical analysis using some ICT concepts. Fundamentals of underlying stocks, news and other factors may always override the technical analysis.
Let's see what happens!
#BankNifty...
BankNifty Analysis - Stance Neutral ➡️
The move BankNifty made did not correlate with Nifty50 today. BN’s gap-up was sold into and then we recovered once the gap was closed. Yes, there was no selling pressure which was common to both. The straddles on BN were progressing better than expected when we had a quick surge and an equivalent fall between 13.31 and...
As we have been discussing, Banknifty has a bullish nature for a couple of analyses. Now it's reaching near the resistance zone @46970.
Now, if we look at the chart:
The market has broken to the upside; also, the market is making a double bottom if we look at the 4H frame. 46300 was good resistance, which broke to the upside. Now, I am expecting it to...
I have been busy for the last two days. If you have been following my analysis, we marked a resistance line, which got a breakout yesterday, and after that, it gave a very nice bullish momentum.
Now, if we look at the chart:
The market is already in the breakout phase, but right now, it is sitting at the resistance zone that has been tested multiple...
As we discussed in our last analysis, it's bearish behavior, but it took support at 45000 and turned bullish.
Now if we look at chart data:
the market is trading at a resistance trendline. Which has rejected the Price twice. It might reject it again. Also, the Price is at 200 EMA, which can provide a good resistance at this level of confluence.
...
Banknifty is taking support at the given area and expected to rise from this zone. Follow zones for targets and take limited qty.
NOTE: I'm not a SEBI REG. Study before investing.
BankNifty Analysis - Stance Neutral ➡️
BankNifty also does not get a stance revision today, but the progress it has made in the bullish direction is commendable. The first thing it did today was to defend the descending trendline (see encircled region). And from there it almost followed a steady 45-degree climb - showing strength. Except for the first 45 minutes,...
Bank Nifty is a little different from Nifty. The current pullback is violating the wave rule, so it might be in a leading diagonal. If it's a leading diagonal, then it won't take a sharp rally. If it opens with a gap-up, then it may reject around 78%, and then we can expect a minimum correction of 38%. If it breaks 38%, then we take a breakout short position and...
Yesterday market went bullish, I was biased on bearish view but it went bullish. This is why market is unpredictable, However, market respected my support and resistance levels which helped me to take trade entry. Similarly, Today also I'm sharing my support and resistance levels for today 15 Feb 2024. I'm expecting a sideways or rangebound market today, be...
BankNifty Analysis - Stance Neutral ➡️
BankNifty does the impossible today, the reason we are saying this is because, despite a UP day yesterday, BN was unable to get past the resistance of 45399. See what happened today - we opened gap-down and by 10.55 we were back at the resistance level of 45399. The rejection made sense then as the mood was still bearish and...
These Levels are based on purely mathematical calculations.
Validity of levels are upto expiry of current week.
How to use these levels :-
* Mark these levels on your chart.
* Safe players Can use 15 min Time Frame
* Risky Traders Can use 5 min. Time Frame
* When Candle give Breakout / Breakdown to any level we have to enter with High/Low of that breaking...
Banknifty also has the same sentiment, and I don't know exactly where it will open. So, if it finds support at the immediate support level, we can expect a minor range market with some corrections. However, if it breaks the minor demand zone at 44885, then the correction will continue
Degree full forms-
L1 stand for Long term wave 1 and so on
M1 stand for Medium term wave 1 and so on
S1 stand for short term wave 1 and so on
Hello Everyone,
Welcome to Trading Idea, This is a short term forecast but trade always in direction of bigger cycles.
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