Get started

Bankniftytrend

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
22 Apr - BankNifty also goes neutral, on further gains -ATH nextBankNifty Analysis — Stance Neutral ➡️ The show on BankNifty was sponsored by HDFC Bank which had its quarterly results declared over the weekend. The sharp gap-up opening and then falling to close the gap were all attributed to the price action of HDFCBK. Despite the elephant losing 1.25% today, BN managed to close in strong GREEN. BN also managed to defend the 47465 support so decently that it too commanded a stance change from Bearish to Neutral. 48103 looks like an interim resistance above which BN could keep up the momentum to even take out the ATH. If we look back at the events that happened from 15th Apr, just notice how quickly the indices are managing to gain back the grounds they ceded. US indices like SPX and NDQ are yet to reverse but see how Indian indices are optimistic. For tomorrow we wish to start with a neutral stance and then add on bullish positions if the momentum gains. BankNifty Algos managed to end the day with a gain of Rs31488.
NSE:BANKNIFTY
by viswaram
Nifty & Bank Nifty Analysis For 23 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:NIFTY
by TheStockMantra
Bank Nifty Analysis for 22-04-2024BNF is trading near the one hour timeframe support of 46600. As mentioned in my previous analysis, BNF took the support of 46600 zone and reversed. If BNF sustains below 46600 we can expect a further fall till its immediate support. If BNF moves upward we will have a immediate resistance of 47750. Below are the resistance levels to watch Resistance 1 47750 Resistance 2 48250 Resistance 3 49000 If BNF moves downward and breaks the major support at 46600. We can expect a fall till 46000. Below are the support levels to watch Support 1 46000 Support 2 46000
NSE:BANKNIFTY
by Shree_Traders
Banknifty prediction for today 19 APR 24As we discussed, Banknifty has been falling for the last four sessions. If we look at the charts: The market is reaching near the support trendline, which is going to provide a potential support zone for Banknifty. if we look at the OI: PCR = 0.67 shows the market is in a bearish phase. 47000 is going to provide a good support zone as it has good PE writing and also a logical level of support. On the higher side, above 47500, there is good CE writing at each level. If we look at the FII & DII data , FII is strong, and bearish clients are bullish, which shows the market is going to open a gap-down. The market should open a gap down. If the Mmarkettakes support near 46500, then a bullish comeback might be seen in the market Reasons: Price < EMAs shows the market is in a bearish phase. And bears are strong. RSI < 40 shows strong bears' power. (Bearish) PCR = 0.67, which has been falling rapidly from 1.34. shows bears are actively increasing their position size. (Bearish) Price < VWAP shows a bearish market structure. (Bearish) The war situation is also having a negative impact on the market. (Bearish) Verdict : Bearish Plan of action : Sell 47000 PE (Hedge with 15/- PE premium)
NSE:BANKNIFTYShort
by finnova_
18 Apr - BankNifty Algos did well as it was not expiry todayBankNifty Analysis — Stance Bearish⬇️ “The power of a strong support/resistance zone will help you in your technical analysis” — Anonymous. See what happened today, BN started strong and was keeping its head above the 47465 support for a long time. Between 10.19 to 10.31, there was an attempt to break this SR, but it failed. BN reclaimed the 47700 levels and was coasting perfectly when the flash crash happened. Between 13.23 to 13.27, BN gave away 557pts ~ 1.17% also ensuring the SR breach. By 13.39, the breach was confirmed and BN continued its downward moves. A session low of 46982 was hit at 15.15 post which we had a 240+ pts recovery. The last 4 candles on the 63mts TF are all red and the support of 47465 has yielded. I am yet to mark the next support level, which I will do by tomorrow. I wish to hold on to my bearish view for tomorrow as well. The Algo on BN was in good shape till the 13.23 impact took away the gains. Ended the day with a loss of 40,724.
NSE:BANKNIFTYShort
by viswaram
Bank Nifty Analysis for 18-04-2024BNF is trading near the 1hr TF support of 474000. Also it to be noted that BNF has fall 1400 points from its ATH. Still BNF is trading near the support zone of 47400 & 47600. If BNF moves upward we will have a immediate resistance of 47800. Below are the resistance level to watch Resistance 1 48100 Resistance 2 48250 If BNF moves downward we can expect a major support at 47000. There is no major support level but if breaks 47000 zone we can expect a fall till next support of 46600 While checking the chart in 1D TF we could see that its in ascending channel pattern. Probably there shouldn't be much fall but it falls breaking the pattern we can expect the fall till 46600 zone.
NSE:BANKNIFTY
by Shree_Traders
16 Apr - BankNifty takes support, 47465 crucial for trend conti.BankNifty Analysis - Stance Bearish⬇️ BN managed to hold on to 47465 levels quite decently. All intraday straddlers would have had a decent day as there were no swings or whipsaws. We opened below the 47465 level but managed to close above it giving some hope to the Bulls. If we close above 47465 levels on the 18th, I might change my stance from bearish to neutral. For bearish continuation, we need strong downside momentum - agreed that we lost 288pts ~ 0.6% today, but not breaking the support level is considered a negation of the trend. In the higher time frame, this is more obvious. See the closing 63mts candle, it is strong green with the lower part of the body right at the 47465 level. The next move would be more based on news than technical analysis, so it would even make sense to keep a close eye on macros like Iran-Israel conflict. --- BN algos ended the day with a profit of 26757, again exited prematurely in the opening 30mts itself as the time condition of the profits were met.
NSE:BANKNIFTYShort
by viswaram