Get started

Bankniftytrend

Long Setup in Balaji TeleFilmsA bullish flag & pole Chart Pattern Breakout completed on the Daily Time frame of NSE:BALAJITELE Price Action supported by very good volume. The stock is currently in uptrend making higher highs and higher lows. One can add this stock into their stocks to buy list and initiate the long trade as per the levels mentioned on the chart Stop loss will be on a Daily closing basis. Trend Analysis :- UP Trend Chart Pattern :- Bullish flag & pole Chart Pattern Technical Indicator :- Positive MACD Crossover Disclaimer: This is for educational purpose only.
NSE:BALAJITELELong
by raigvivek
1
FASP levels for Bank Nifty 09/04/2024The FASP for BankNifty is listed for 09-04-2024. 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 directions and levels for April 9th.Banknifty didn't match the performance compared to the nifty. However, it also has some bullish sentiment, so if the gap-up sustains, we can expect a rally continuation with minor consolidation. The reversal will be considered only if it breaks the Fibonacci level 38%, while if it rejects the major resistance level. An alternate view indicates if the gap-up doesn't sustain or if it rejects around the immediate resistance level, then we can expect a minimum of 23 to 38% correction.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY- Tradeplan for 27Mar24BNF tried to move past 46753, it failed and made a double top before testing 46546. This is a level that had previously pushed price to around 47000, however, with recent movement, it had been respecting a parallel channel formed in 15MTF. If level 46699 is not broken, we can expect a movement down, this will also fill the gap before moving to 46360. Note: Ideas share by me are only for educational purpose. Markets are subjected to risk, please do your due diligence before making investments/ trades.
NSE:BANKNIFTYShort
by svj_ravi
08 Apr 2024 - BankNifty also gets a new HIGH, what a RUNBankNifty Analysis - Stance Bullish ⬆️ BankNifty also takes out the recent swing high and a new ATH is in place ~ 48716 @ 13.23. Over the next 2 candles, it lost 217pts ~ 0.45%. The final close was with a nominal gain of 88pts ~ 0.18%. What a run it has been by BN, we have officially it a new higher-high, but it has not finished yet. Only when we retrace a few points, we can mark the new peak. Hope the analysis of the recent days has benefited you in the right direction. --- Algo Trading Our algo trades ended today with a gain of 29172. Most of the credits go to BankNifty which stayed in a narrow range.
NSE:BANKNIFTYLong
by viswaram
FASP levels for Bank Nifty 05/04/2024The FASP for BankNifty is listed for 05-04-2024. 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
04 Apr - BN - The opening RED candle, RBI MPC meet will decode..BankNifty Analysis - Stance Bullish ⬆️ The beauty of BankNifty today was that its fall did not go below yesterday’s close. Yes, the fall was intense, but the recovery was more elegant - a steady rise showing immense Bull strength. And if you read today’s report along with what we wrote yesterday, you might have become a true fan of the Bulls. A true jump above the 47465 support shows the index is really gearing up for its breakout. Just take a look at HDFC Bank’s chart, the recovery from the recent lows has been really amazing. And when the Elephant is in the mood to run, there is nothing the smaller animals can really do. We wish to start the day tomorrow on the bullish side. The RBI MPC meeting will be closely watched and I would really like to know why we had a strong opening RED hourly candle. There might be something that they know that we dont, let us find that out tomorrow. – Algo Trading Our algo trades ended today with losses of Rs9757. I had to manually override and square off the trades to limit the losses. In Hindsight, that proved like a good decision.
NSE:BANKNIFTYLong
by viswaram
#Banknifty directions and levels for April 4th.Banknifty maintains the range market structure, so if the gap-up sustains and breaks the fib level 78% on the upside, then we can expect the rally to continue. That may reach the supply zone. After that, if it consolidates or breaks that level(SZ) then we can expect further rally continuation. However, if it sharply rejects(around the SZ), then it may retrace a minimum of 38 to 61% in the minor swing. Alternatively, if the gap-up doesn't sustain, then it may turn into a minor correction. But that should break the fib level 38% in the minor swing. If it happens, then we can expect a minimum of 78% to 47149 level of correction
NSE:BANKNIFTY
by Manickamtraders
BN 03 Apr - The bulls are ready to charge, will N50 spoil it?BankNifty Analysis - Stance Bullish ⬆️ BankNifty also defended its current levels very beautifully today. The open was pretty bad as we dropped to 47278 levels by 09.27. If you observe the charts you can quickly understand that it was well below the support and that should have triggered a further fall if the Bears had an upper hand. Unfortunately, the trend is still in favor of the Bulls as the recovery was intense. A look at the 10.11 candle that cut through the 47465 resistance will give all the proof you require. BN ended up recovering 398 points from the lows and unlike Nifty we closed near the highs of the day. If you ask me, the trend is still favoring the bulls 5 out of the 6 candles today are in GREEN with the odd RED candle being a doji. It might be very unfortunate if Nifty50 has plans to reverse now as BN looks quite ready to break out. We all know how much energy will unwind when N50 and BN are aligned in the same direction. For the last 3 sessions, we have both of the indices upward looking but with no followthrough action. Let us hope tomorrow is that day wherein we expect a directional move. – Algo Trading Our algo trades ended today with a gain of Rs44262, this is the 3rd consecutive day where I had to exit the trades prematurely as the hourly profit targets were hit.
NSE:BANKNIFTYLong
by viswaram
BankNifty- 02 Apr - 47465 support defense crucial for UP moveBankNifty Analysis - Stance Bullish ⬆️ BankNifty defends the support of 47465 today also, much-needed confirmation to hold on to our bullish stance. The next leg of the rally should ideally come from the banking sector. But the biggest concern I have is that the actual torch bearer of the directional trend has shifted to NiftyIT from BankNifty. From Jan 2024, BN has been a laggard whereas NiftyIT did drive the Nifty50’s directions. The power struggle was quite obvious as Jan to March was pretty bad for most option traders. Neither the trend following nor the option selling strategies worked out. NiftyIT is currently in a reversing trend. If BankNifty starts to move up and IT moves down and if Nifty sides with IT rather than the banks then we are in for a big disappointment. Let us hope the Banks take back the control from IT, the rationale being it is the sector with the highest weightage. The trend is safer if the highest weighted sector drives the show. The first thing BN has to do is take out the ATH. We wish to start the day tomorrow with a bullish tone and then switch to a cautious mode if 47465 support is getting broken. Tomorrow being expiry, a 100+ quick points move could surge the options premium. As it stands the premiums are not suggesting any directional move. Algo Trading Our algo trades ended today with a gain of Rs31517, again I pulled the plug early to save the transaction costs and book 2/3rd of theoretical profits.
NSE:BANKNIFTYLong
by viswaram
BankNifty 01 Apr- stance revised to bullish as 47465 brokenBankNifty Analysis - Stance Bullish ⬆️ BankNifty does what was pending for quite a long time i.e break above the 47465 resistance. Despite the sharp correction in the last 45 minutes of the previous working day, BN managed to recoup the losses and close much higher than the swing high. We took out the resistance in the opening candle itself after that there were 2 to 3 attempts to check if the support was strong enough. In the last 55mts we had a smooth surge which gave the impression that the support is here to stay. If we connect the dots from the lows of 12th Feb, it looks like a new higher high in the making. If it does go there, it will be a treat to watch as BankNifty has been lagging behind Nifty for quite a long time now. We wish to change our stance from neutral to bullish as long as 47465 support is held. – Algo Trading Our algo trades ended today with a gain of 41546 as I prematurely closed the trades at 11.22 today.
NSE:BANKNIFTYLong
by viswaram
#Banknifty directions and levels for April 1st.Bank Nifty also reflects similar sentiment. Gift Nifty is indicating a gap-up start, suggesting potential consolidation initially. After that, if it breaks the previous high, we can expect the rally to continue. Alternatively, if the gap-up is not sustained, we can anticipate a minor correction initially. If it finds support around the 38% level, it may form a consolidation structure. However, if it breaks the 38% Fibonacci level, we could see a correctional wave ranging from 50% to 78%.
NSE:BANKNIFTY
by Manickamtraders
28 Mar ’24 — BankNifty has to break 47465 to go bullishBankNifty Analysis - Stance Neutral ➡️ BankNifty made its run today, but nothing as dramatic as Nifty50. We went up 590pts ~ 1.26% and then gave up 443pts ~ 0.93% in the last 45mts. The stance on BN is still neutral. If we had broken the 47465 resistance today and closed above, we would have changed the status to bullish. At one point, breaking 47465 was looking almost certain. 4mts chart If you look at the higher time frame, you would quickly agree with my view. BN has a bullish edge but is still neutral. For a strong bullish move, the resistance has to be broken, and if we do that we might create a new higher high from the bottom made on 24th Jan. When we resume trading on 1st April, we wish to start with a neutral bias, and go long if we breach 47465. 63mts chart - Algo Trading Expecting choppiness today, did not run the Algo trades today. In hindsight, that proved to be the right decision. Otherwise, the entire month’s gain would have been wiped out.
NSE:BANKNIFTY
by viswaram
#Banknifty directions and levels for March 27th.Bank Nifty also has the same sentiment. If the gap-down sustains and breaks the Fibonacci level of 50%, then we can expect a minimum of 61 to 78% correctional wave. After that, if it finds support there, it may undergo a minor pullback wave of the Fibonacci level of 38%. On the other hand, if it breaks or consolidates around the Fibonacci level of 78%, then the correction will likely continue. Alternatively, if the gap-down doesn't sustain and if the initial market experiences a sharp pullback, it might enter a range market between the previous high.
NSE:BANKNIFTY
by Manickamtraders
26 Mar ’24 — BankNifty appears more bearish than neutralBankNifty Analysis - Stance Neutral ➡️ BankNifty started the day weak and continued to stay weak. The rebound from the opening low was not as dramatic as N50, we broke the low at 10.03 indicating further weakness. Technically BN only closed 0.56% lower vs Nifty which closed -0.42%, but the visual impact shows more negativity on BN than N50. Firstly because the recovery was almost not there and secondly because we kept on losing the lows. 4mts chart The chart pattern on BN is not bullish anyway. Even though the numbers look flat & neutral, the chart is screaming bearish. But you know we cannot go bearish until the support is broken or a new lower low is formed - so we might have to be contended with what we have. NiftyIT has made a decent reversal from the interim top, if BN also keeps falling then no way can N50 stay at these levels. Sector rotations do work for a limited period but if we have the financials and IT putting its weight on one side, all the other sectors combined cannot pull N50 back. 63mts chart – Algo Trading Our algo trades ended today with a gain of 27404. Exited the trades @ 10.54 and did not want to test my luck after that.
NSE:BANKNIFTY
by viswaram