Get started

Bankniftytrend

#banknifty directions and levels for FEB 23Banknifty also has the same sentiment, but there is no solid pullback. However, if the gap-up sustains and breaks the Fibonacci level of 78% (47160), then we can expect further continuation. The alternate view is the same as with Nifty. If it rejects sharply around the 78% or if the gap-up doesn't sustain, then initially, we can expect a 23 to 38% Fibonacci correction. After that, if it finds support there, it may form a range for pullback continuation. However, if it breaks the Fibonacci level of 38%, then the correction may continue, and we can expect the Fibonacci level of 78% to the swing low."
NSE:BANKNIFTY
by Manickamtraders
22 Feb ’24 — BankNifty is bullish even though we had a RED DayBankNifty Analysis - Stance Bullish ⬆️ BankNifty did not have as much of a wild swing as Nifty50 had today, interestingly the SR trendline (blue sloping line in the below chart) was in action. We fell below this support at 09.59 and stood there till 14.59. Only in the last 30mts we managed to go above this level. If you notice in detail it is when BN crossed this resistance that N50 surged past its 22051 SR. Let us not steal the credit as it was all NiftyIT that helped N50 do its magic. BankNifty even though ended with a loss of 0.21% - we are still bullish on it. 4mts chart In fact, we had one 63mts candle below the blue trend line today and ideally, we should have changed the status from bullish to neutral. Had BN stayed lower and not reclaimed its lost ground, we would have 100% gone with a neutral stance for tomorrow. As it stands the next resistance is at 47465 and it is a tough level. If the euphoria from the US markets is spilling to ours tomorrow (SPX +1.96%, NDQ +2.87% as of writing) - then we might even have an outlier GREEN session tomorrow. 63mts chart
NSE:BANKNIFTYLong
by viswaram
Banknifty analysis for tomorrow 23 FebAs we have been discussing, Banknifty has had a double-bottom structure for the past week. It has been consolidating at the neckline. Now, if we look at the chart data: The market is trading at the resistance area. Where the 4h-TF trendline is providing resistance. Also, 47323 is our price action resistance. 46426 is our recent price action support, which is also confirmed support by 200 EMA. If we look at OI data: PCR = 0.99, which indicates bullish market sentiments. FII data shows indecisiveness. 47000 is acting as MAXPAIN. On the above side, 47500 will be nice resistance, whereas 46500 will provide a good support zone in upcoming sessions. I expect the market to be sideways in the range of 46500-47350. above 47350, the market will be bullish. Reasons: Price > EMAs, which indicates bullish market sentiments. RSI ~ 55. If it crosses 60 to the upside, It will be bullish. In a range of 40-60, the market will be sideways. Volume analysis for today's activity shows a neutral behavior. Pcr = 0.99 shows the market is bullish. FII and DII data are mostly indecisive. Verdict: Sideways or Bullish Plan of action: Case 1: Range selling in the range 46500-47350. Case 2: go bullish above 47350.
NSE:BANKNIFTYLong
by finnova_
FASP levels for Bank Nifty 23/02/2024The FASP for BankNifty is listed for 23-02-2024. 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
1
#Banknifty directions and level for FEB 22Banknifty structurally differs a little from Nifty, but here also, we can expect a ranging market initially if the gap-up sustains. We can expect a rally continuation only if it breaks the previous high. On the other hand, if the gap-up doesn't sustain, then we can expect a minor correction here also. After that, if it finds support around the demand zone, the ranging market might continue. However, if it consolidates or breaks the demand zone solidly, then the correction will continue further.
NSE:BANKNIFTY
by Manickamtraders
Bank Nifty Expiry Day Analysis - 21st Feb BankNifty ExpiryI 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 well. I look into OI data as an additional confluence for Indian Indices as I trade options. We have an immediate resistance around 47200-300 levels If broken we can see a move up to 47500-47800-48000 respectively (obviously not all on the same day) Everything may go south if the 46700 levels are broken then we bleed! Happy trading! All praise to God!
NSE:BANKNIFTYLong
by Mellow-Trader
Banknifty prediction for tomorrow 21 Feb 24As 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 resistance trendline at 47500, which might hold the market for a bit. If we look at OI data: PCR = 1.55 indicates the market's super bullishness. There is only a little CE writing at higher levels till 47500. The market is now in bulls control. 47000 is MAXPAIN. Once the market momentum starts, it will go directly to 47500. I expect the market to go bullish till the resistance trendline. Reasons: Price> EMAs show the market is having bullish sentiments. RSI > 60 shows the market is in a bullish region. Price> VWAP shows the market is bullish and has a balanced Price with volume. OI data PCR = 1.55 shows the market is in full bull's control right now. Also, 47500 will be providing the next resistance in the market, which is also the resistance trendline. Verdict: Bullish Plan of action: Sell 47100 PE (hedge it with a 30 rs premium)
NSE:BANKNIFTYLong
by finnova_
BankNifty Intraday Trade Setup | 19th FebToday 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 marked levels. On the other side, if BankNifty breaks 46200 on downside, we expect to see 46080 and below marked levels on the chart. Expectations: Volatile day. Intraday Levels: Buy Above - 46550 Sell Below - 46200 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
1
16 Feb ’24 — BankNifty will have to support N50 next week for ⬆️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 14.11. We assume it may be connected with a news/event that broke about Paytm & selection of any of the banks for its payment settlements. 4mts chart On the higher timeframe, you can notice how BN is making progress to its next resistance level of 47465. Since it is inside a descending (but not parallel) channel, it need not even break the resistance for a stance revision to bullish. All it has to do is take out the 47016 levels soon and break the upper end of the channel. Since Nifty50 has made its intention clear to go long, BankNifty willingly or not would have to support that cause. We wish to maintain a neutral stance till then and go bullish as and when the conditions specified are fulfilled. 63mts chart Algo Trading Our BankNifty algo trades ended today with a gain of 3835 points.
NSE:BANKNIFTY
by viswaram
Banknifty prediction for tomorrow 19 Feb 24As 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 provide good support. If we look at the OI data: Pcr = 1.10, which shows the market is bullish. However, the above side 46970 will provide good resistance, which is also confirmed by OI heavy CE writing at the 47000 level. MaxPain, for now, is 46500. Once it's broken to the upside, the path to 46970 will be clear. I expect the market to be volatile in this zone, as per the historical data. Right now, at a double bottom neckline. I am expecting volatility in 46300-46970. Reasons: The last two times, the market fell sharply from this level. Price > EMA indicates bullishness in the market. RSI is showing bearish divergence. Some consolidation is required at this point. OI data Pcr = 1.10 shows bullishness. 46500 is MaxPain, and 47000 shows heavy CE writing. VWAP ≥ price, which indicates bullishness in upcoming sessions. Verdict: Bullish till 46970 level. Plan of action: Be aware of opening high; if the market gap-up, there is a high chance of range bound in 46500-46970. Go with an Iron Condor in the range 46500-46970.
NSE:BANKNIFTY
by finnova_
6
Banknifty prediction for today live 15th FebI 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 times. There is a high probability that Banknifty will be continuing the bullish momentum. But 46100 will be providing good resistance once its broken bull's path is clear to 47000. If we look at OI data: PcR = 1.10, which shows the market is very bullish. 46000 has good CE writing, which might provide good resistance, which is also confirmed by Price action. As it's 1st day of the week, OI will not matter much. FII and DII show bearish on Options, which might lead to some sideways days because, in the future, FII is bullish. I am expecting the market to get sideways in the range of 45600-46100(color as Cyan). If it breaks 46100 to the upside, I am expecting more bullishness. Reasons: Price > EMAs, which shows the market is strong. RSI > 60 shows good strength in the bulls. OI data Pcr = 1.10 shows the bullish sign. which is also confirmed by the Price action breakout. Price> VWAP, which shows the market is having strength. Verdict: sideways in the range 45600-46100 Bullish; if breaks 46100 to upside Plan of action: Case 1: Range selling in 45600-46100 Case 2: go bullish if it breaks 46100 to the upside.
NSE:BANKNIFTYLong
by finnova_
Banknifty analysis prediction for tomorrow 12 Feb 24As 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. Looking at the OI data: Pcr = 0.86 shows the bullish nature of the market. 46000 shows Huge CE writing, which means it has heavy resistance. The lower side, 45000, is showing good PE writing, which means we are going to provide nice support at this level. We can also see in charts 4550045500-46000 is to be a sideways volatility range. All possible scenarios have been marked on the chart according to their probability of occurrence. I expect bullishness . Reasons: Price > EMA(13); also trading at 200 EMA. (indecisive.) Price is trading at a resistance level; either side will decide the direction of the market at that moment. RSI > 60 shows good strength in the bulls. OI data Pcr = 0.86 shows the bullish sign. which is confirmed by FII and DII data. Price> VWAP, which shows the market is having strength. Verdict: Bullish Plan of action: observe the 15-minute candle and then go in as situations marked on the chart.
NSE:BANKNIFTY
by finnova_
2
15 Feb ’24 — BankNifty has to scale above 47016 to go bullishBankNifty 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, we did not have a selling pressure or a bear attack. It seems like the bears had thrown in the towel yesterday itself. 4mts chart In the 63mts chart, BN’s ability to defend the support is second to none. The only reason it is stuck in the neutral zone is because of the bear attack it had on 17th Jan. We are almost getting to those levels now. BankNifty’s contribution is very crucial to help Nifty’s next move. Since N50 is waiting to go bullish, a mere push from BN will give a multiplier effect due to the weightage it carries. For tomorrow we wish to start the day with a neutral stance and go bullish only of 47016 trend line is getting broken. 63mts chart Algo Trading Our BankNifty algo trades ended today with a loss of Rs3190
NSE:BANKNIFTY
by viswaram
#Banknifty directions and levels for FEB 15thBank 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 fix our target at 50 and 61%. This is also applicable for initial market rejection. Here, the trend reversal will occur only if it breaks yesterday's low; then only can we consider this a correction.
NSE:BANKNIFTY
by Manickamtraders
Bank Nifty Market Analysis - 15 Feb 2024Yesterday 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 cautious in trading. This is my analysis not a buy/sell recommendation. You can take risks based on the support and resistance levels as target/stoploss levels. Happy trading! If you like my analysis, Please like and follow
NSE:BANKNIFTY
by optreen
14 Feb ’24 — BankNifty takes out the resistance and goes neutralBankNifty 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 little we did know what the remainder of the day had in store. The elongated encircled region is when BN was still negotiating in and around the SR level. Once it got past that - the next test was at the purple descending trend line (which we drew yesterday). That was also kind of accurate as on 3 instances we had a contact. 4mts chart The climb of 670pts from 14.07 to 14.39 made all the difference today. It drove our algo into a tailspin and ensured that we booked the highest intraday loss till now. You might already know most algos prefer to play straddle or strangles and today being the expiry day created more trouble. The calls when sold were damn cheap and when the stop loss got hit - it appreciated more than 100 to 200%. Yesterday we pointed out the unusual skew in the PUT and CALL premiums, the calls staying cheap. Today we fell victim to that. 63mts chart We have another W pattern today and since the resistance is breached, it is a good sign for the bulls. Overall our stance is now revised to neutral from bearish. What is more interesting is that BN has a perfect at-par close with the last expiry i.e. 7th Feb. The first thing we will be looking out for tomorrow is to see if there is follow-up buying or whether what we witnessed today was just a blip. Algo Trading Our BankNifty algo trades ended today with a loss of 11805.
NSE:BANKNIFTY
by viswaram
BANKNIFTY MATHEMATICAL LEVELS FOR THIS EXPIRYThese 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 candle. * Targets will be another level marked on chart * Stop Loss will be Low/High of that Breaking Candle. * Trail your SL with every candle. * Avoid Big Candles as SL will be high then. * This is one of the Best Risk Reward Setup. For Educational purpose only
NSE:BANKNIFTY
by YASHSINCE1995