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Bankniftytrend

#Banknifty Directions and levels for May 2nd.Good morning, friends! Here are the directions for May 2nd: The global market is still maintaining a moderately bearish trend, supported by the Dow Jones, while our local market sentiment also indicates a moderately bearish trend. It might open with a neutral to slightly gap-up start, as suggested by GiftNifty, showing an increase of +30. Nifty and BankNifty have the same structure, and structurally there is a sub-wave 4th going on. It's a consolidation zone, so if the market opens with a gap-up and sustains it, then we can expect a range market. However, if the market sustains around the Fibonacci level of 78%, it could break out. Even though it breaks the Fibonacci level of 78%, structurally, it may not take that much of a rally because the upcoming wave is a 5th wave, and the 5th wave is typically a distribution wave. Alternatively, if the gap-up doesn't sustain and declines initially, we can expect a minor correction with a pullback structure. The aggressive correction will occur only if it breaks the immediate support level with some minor consolidation.
NSE:BANKNIFTY
by Manickamtraders
30 Apr 2024 - BankNifty's last candle takes out the full dayBankNifty Analysis - Stance Bullish⬆️ Banknifty does a perfect parabola and it really went by the script. Even though my Algos are non-directional - it has a huge hit rate on expiry days as the ATMs usually go to zero and the risk: reward is quite favorable. Despite having a directional move today, the slow grinding worked out in my favor until the 13.59 candle.  We rallied 474pts ~ 0.96% in 12 minutes and then fell 723pts ~ 1.45% in the last 60. I am quite sure, there is absolutely no way you can capture that kind of move via an algo. If you know someone who made money from this move, let me know - I am ready to be his/her student. On the 63mts TF, notice the last candle, after hitting a new ATH - the profit booking brought us down below the previous close. The entire day's gain was wiped out in a single candle. Algos were sailing perfectly till the 13.59 candle, quite happy to have given out only 49233 INR as losses today.
NSE:BANKNIFTYLong
by viswaram
BANKNIFTY | Investment opportunity in BANKBEESDisclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst. If you found this analysis helpful, I encourage you to like and share it. Your observations and comments are also welcomed below. Your support, likes, follows, and comments motivate me to consistently share valuable insights with you. 🔍 More Analysis & Trade Setups 🔍 For more technical analysis and trade setups, make sure to follow me on TradingView: www.tradingview.com
NSE:BANKNIFTYLong
by Munish_Jain
BANKNIFTY Intraday Trade Setup For 1 May 2024BANKNIFTY Intraday Trade Setup For 1 May 2024 Sell_1- From 49700 Invalid-Above 49810 T- 49390 Sell_2- Below 49240 Invalid-Above 49350 T- 48650 BANKNIFTY has closed on a bearish note as day ended near day low. It has formed a shooting star just after the breakout so may not be of that use also day was closed flat closing basis. High chance of a bounce towards 49700 if today's low will be untouched tomorrow, same can act as intraday resistance. Below 22240 post bounce atleast 0.382 from 49975 we will short. Index may find a strong support near 48600-50 zone. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 49240 then we will short for the target of 48650. 2nd short will be planned from 49700 in case of a gap up. T- 49390 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 analysis for tomorrow 30 Apr 24As we discussed, Banknifty, if it takes support at 200 EMA, will make a higher high, but we didn't expect that heavy bullishness. If we look at the chart: The market is trading in the 4H-TF resistance zone; it has also broken an all-time high. That indicates bulls are very powerful, and today's moment reflects that. The price is very far from the EMAs(50, 200). there is a chance the market might consolidate here for 1 or 2 days. All important levels have been marked at the chart. If we look at the OI data: PCR = 1.65, which has risen from 0.76. it's a very strong change in OI that shows there is something very big event coming up. 49500 and 50000 are showing significant resistance levels. Other than that, not much of the CE is written on higher levels. On lower levels, there is heavy PE writing that shows that the Bulls are in full control of the market. FII and DII data do not give much information today. I expect the market to consolidate here for 1 or 2 days. After that, we will plan our trade according to the price action. Verdict: Sideways at Resistance Plan of action : Wait for the market to make some price action here.
NSE:BANKNIFTY
by finnova_
1
Nifty & Bank Nifty Analysis For 30 Apr 2024In this video, we'll discuss about Today's Market Movement and Tomorrow's Analysis 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:NIFTYLong
by TheStockMantra
BANKNIFTY Intraday Trade Setup For 29 Apr 2024BANKNIFTY Intraday Trade Setup For 29 Apr 2024 Bullish-Above 48510 Invalid-Below 48400 T- 49070 Bearish-Below 48070 Invalid-Above 48180 T- 47550 BANKNIFTY has closed on a neutral note last week, formed a spinning top candle in weekly TF. Index is just following the rising parallel channel since Feb. Last swing low in hourly TF is 47737, below 47700 there can be a good selling. In the higher side 48680 is the high made so above 48700 fresh ATH move will be triggered. Between this one needs to have non-directional approach. 48510 and 48070 are intraday levels for Monday. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 48510 then we will long for the target of 49070. For selling we need a 15 Min candle close below 48070. T- 47550. 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 Analysis for tomorrow 29 Apr 24As we discussed the live market Banknifty analysis, after that, it showed a huge fall. If we look at the chart now: The market is trading at the 200 EMA, which is likely a very good support point. Also, it gave a nice pullback with good volume in the last 15 min. Also, the market is trading at the 0.23 fib level, which is not likely to provide support after such a sharp fall. I expect the market to give the 0.38 fib retracement. ALL IMPORTANT LEVELS HAVE BEEN MARKED ON THE CHART. If we look at the OI data: PCR = 0.82, which has fallen from 0.98, which shows bears are increasing their positions in the market continuously. On the last trading day, there was a huge call writing on upper levels at 48300, 48400, and 48500. on the lower side, 48200 and 48000 are the only PE writing left. If 48000 breaks to the downside, there is not much PE writing on the lower side. If we look at the FII & DII data, FII and Pro are strong, bearish clients while clients are bullish, which shows that the market is going to open a gap-down. The market is at a crucial level right now. There are two cases: Case 1 : If it takes support at 200 EMA, it might come back strong and touch 48600 again. Case 2: If it breaks to the downside, it's going to test the 0.5 fib level at 47800. Reasons: price < EMA(13) shows the market is in a bearish phase. And bears are strong. While the price is taking support at 200, EMA might force the market to take support at this point. RSI < 50 shows strong bears' power. Bulls are weak at this point. (Bearish) PCR = 0.82, which has been falling rapidly from 0.98. shows bears are actively increasing their position size. (Bearish) price < VWAP shows a bearish market structure. (Bearish) Verdict: Mild Bearish Plan of action: Case 1: Sell 48000 PE (Hedge with 15/- PE premium) Case 2: Sell 48100 CE (Hedge with 15/- CE premium)
NSE:BANKNIFTYShort
by finnova_
26 Apr 2024– BankNifty has to take out 48119 to go neutralBankNifty Analysis - Stance Bullish ⬆️ Banknifty falls 293pts ~ 0.61% today, but I have not changed the stance to neutral yet. The charts are not as weak as Nifty50 and there was some restraint on how BN hit the lows today. After opening gap up, BN took a dip and then got its head back by 13.11. HDFC Bank's price action was extremely unusual, making an unusual spike till 09.43 and then falling back to where it all started. In a perfect inverted V shape, how does the highest weighted stock of Nifty50, NiftyBank, and FinNifty move like a meme stock? For Monday, we wish to start with a bullish view but switch to neutral if 48119 levels are getting taken out. Even though we hit that level intraday, the closing was much above that it did not result in a stance change. The BN algos ended the day with a modest gain of Rs570.
NSE:BANKNIFTYLong
by viswaram
25 Apr 2024– BankNifty goes bullish, ATH a swing away 🐂🐂🐂BankNifty Analysis - Stance Bullish ⬆️ BN also gets a stance upgrade to bullish, the momentum that was lacking till now came from sources we never knew existed. Kotakbank has a stunning 9.11% weightage on BN index and despite it being 10% down, BN managed to rally 886pts ~ 1.86% intraday today. BN managed to surpass the 48103 resistance which gave it the bullish tinge. The ATH of 49057 is surely a swing away, but let me take a moment and think rationally - can BN take out that level when Kotak has taken so much of a beating? Was what we saw today another round of short-covering, just because the weak hands who held the shorts were not convinced to push down the prices further? Looking at the intraday rally, I was sure the algos would get messed up. BN algos went into error @ 10.55 and auto-squared off. At the moment the losses were approx. -12341. I managed to re-activate the same to end the day with losses of -38795, in hindsight not activating again would have been the better choice 😢.
NSE:BANKNIFTYLong
by viswaram
24 Apr 2024– RBI bank on Kotak credit cards will create ruckus ?BankNifty Analysis - Stance Neutral ➡️ BankNifty also had a neutral day today, but the OTM options premium was so weak that I did not play expiry at all today. I frankly do not remember the last time I missed playing BN expiry day. The regular algos, which has the same logic for banknifty every day ran as usual and that is the only trade I did on BN today. NiftyIT was totally against BankNifty today, the split showing its impact on Nifty50 (in a way helping its neutral case). But looking at the price action, BN was not able to generate any momentum to go for the next levels. Even though the chart says there is further upside momentum left, the fundamentals may not really help BN this week. The news of RBI banning Kotak from issuing new credit cards broke after market hours (source). If the news came during trading hours, the BN would have expired at a different level altogether - but the news would have priced in and things would have settled. Now, we may have some push/pull for the price discovery tomorrow and it could really drive up some volatility. We would still prefer to maintain our neutral stance and go short only if 47465 is getting broken. BN algos made 28600 today and I exited the trades by 13.15.
NSE:BANKNIFTY
by viswaram
Bank Nifty Analysis for 25-04-2024BankNifty is still trading within the range of 47900 and 48250 for past two days. It is well know here that 48250 is acting as a major resistance. We can expect a bullish move only if BankNifty sustains above 48250. There is no change in the Support & Resistance levels. If BankNifty sustains above the resistance of 48250 we can expect a upward movement to above resistance levels Below are the resistance levels to watch Resistance 1 48550 Resistance 2 49000 If BNF moves downward and breaks the major support at 47900. We can expect a next support at 47700. Below are the support levels to watch Support 1 47700 Support 2 46600
NSE:BANKNIFTY
by Shree_Traders
FASP levels for Bank Nifty 24/04/2024The FASP for BankNifty is listed for 24-04-2024. 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 under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
NSE:BANKNIFTY
by SathishChandrasekaran
BANKNIFTY Intraday Trade Setup For 24 Feb 2024BANKNIFTY Intraday Trade Setup For 24 Feb 2024 Bullish-Above 48310 Invalid-Below 48200 T- 48755 Bearish-Below 47890 Invalid-Above 48000 T- 47300 BANKNIFTY has closed almost on a flat note today. It opened with a big gap and was sold into immediately like yesterday. 10 o'clock range was to be used as per setup but index did not break out any side. It traded inside 200 points range majority of the day. Index may test half bat PRZ or 0.58 if it breaks 47890 tomorrow. 47300 can act as an intraday support tomorrow. Above 48090 bulls will try to take charge but 48300 will be bullish trigger. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 48300 then we will long for the target of 48755. For selling we need a 15 Min candle close below 47890. T- 47300. 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
3
23 Apr 24 - BankNifty, deadly opening candle & then flat dayBankNifty Analysis — Stance Neutral ➡️ BN had a flat day too but not after a deadly looking opening candle. If you look at the charts, it is more or less a replica of what happened yesterday. BN shows it is taking a breather after the recent run. Not falling off from the current levels is an advantage Bulls. Just like we mentioned yesterday, 48103 is an interim resistance, but not a strong one. To take out the ATH, all we need is a slight push. BankNifty Algos ended the day with gains of Rs16071, but not after taking some MTM losses in the earlier part of the day. Once BN started trading flat, the profits started coming in.
NSE:BANKNIFTY
by viswaram