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Bankniftytrend

#Banknifty directions and level for FEB 13There are some corrective waves bending, so if the initial market declines, we can expect minor correction initially. After that, if it takes support around 44500 or the swing low, then we can expect a 23% to 38% pullback wave. On the other hand, if it consolidates or breaks that level solidly, then the correction will continue. Alternate view: Banknifty also has an RSI divergence. So, if the gap-up sustains, then we can expect pullback continuation with minor consolidation.
NSE:BANKNIFTY
by Manickamtraders
FASP levels for Bank Nifty 13/02/2024The FASP for BankNifty is listed for 13-02-2024. 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
12 Feb ’24 BankNifty breaks a support, stance changed - BEARISHBankNifty Analysis - Stance Bearish⬇️ We expected BankNifty to stay neutral today after what it did in the last session. Just to recap, BN broke through the resistance of 45399 last session and ended the day near the highs. We were expecting that momentum to continue today also as Banks had no inherent weakness to start with. But what happened today was unexpected - the swing range was a whopping 1118pts ~ 2.44%. And today’s low took out the last session’s swing low as well. 4mts chart If you notice the encircled region, once BN broke the support of 45399 - it attempted to go up but failed miserably. That was the exact phase where we understood that the Bears may overpower the Bulls. We fell 715 points ~ 64% right from those levels. So in case you got into the bearish stance late in the day - you would have still ended up the day in pretty good greenery. 63mts chart 44542 support level is quite near and BN tested 44633 levels ~ 91pts away. If the Bears are still in form tomorrow, we should expect the 44542 to be taken out in the forenoon session tomorrow. The next level in play would be the most important 44068 levels. We wish to start the day tomorrow with a bearish stance and take up short opportunities as and when it present itself. Algo Trading Our BankNifty algo trades ended today with a loss of 2538 points.
NSE:BANKNIFTYShort
by viswaram
09 Feb ’24 — BankNifty defends the 45399 level, boosting bulls BankNifty Analysis - Stance Neutral ➡️ BankNifty defends the 45399 level with so much ease today. After witnessing the rout yesterday, we seriously thought BN would take longer than usual to recover the lost ground. Do you remember the discussion we had about the 2 strong RED candles before breaking the 45399 levels yesterday? Today’s counter move made them look insignificant. 4mts chart The intraday low was hit in the first candle itself and from that point, we had an intraday rally of 854pts ~ 1.91%. The closing was with so much strength and rightly so as once we broke through the 45399 resistance - BN bulls got so much hope & enthusiasm. Notice the encircled region and how we spent the time around the SR level before breaking out. The green candles were getting stronger with every iteration. 63mts chart The last candle of today forms perfectly above the 45399 confirming the break. This nullifies yesterday’s fall and we are back into the neutral territory. For Monday we need to look for non-directional trades again and would only go short if the support breaks. To go LONG we have quite a distance to cover as just beating 46800 would not suffice. Algo Trading Our BankNifty algo trades ended today with a gain of 217pts. If you look at the chart below - you can see how difficult it was for the system to handle the reversals today.
NSE:BANKNIFTY
by viswaram
#banknifty directions and levels for FEB 9.Banknifty also experienced a sharp correction in the last session. Here, if the market breaks the previous day's low, then we can expect further correction. However, there's a demand zone, so if the market rejects there, we can expect a minimum of a 23% to 38% pullback wave. Alternatively, if the market breaks or consolidates in the demand zone, then the correction will likely continue. Alternatively, if the initial market takes a sharp pullback, then it might consolidate between yesterday's low and the Fibonacci level of 38%. We can expect further pullback only if it breaks the 38% level."
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 09 Feb 2024BANKNIFTY Intraday Trade Setup For 09 Feb 2024 Sell_1- From 45650 Invalid-Above 45760 T- 45220 44900 Sell_2- Below 44890 Invalid-Above 45000 T- 44400 43915 BANKNIFTY has closed on a complete bearish note with 1.76% cut today. Since last 3 days BANKNIFTY was complete sideways between 46100 and 45500. Today range broke downside and a gave a good trendy move. Sell triggered as per trade setup below 45520 and hot 1st target 44900. Tomorrow there are two places to short one on pullback and one on continuation. Possibility of a bullish above 45650 looks less. Best trade will be on flat opening below 44890. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 44890 then we will short for the target of 44400 and 43915. In case it tests 45650 via a gap up move move then we will short from there. T- 45220 and 44900. 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 weekly expiry analysis for 07/02/24.Banknifty is consolidating in a range for last two trading session and chances are of a trending market on the expiry. Vix is trading around 15, if it increases there will be another sideways market, else there can be a trend market if the Vix cools off. Still, it is taking rejection from the 20 ema on the hourly charts, even the closing is below it. In case of a gap down opening, bearish trend can be capture upto the support zone. If there is a gap up opening, there will be confusion in the market and the expiry may remain silent. Major bearish targets :- 45300, 4500 Enter the bearish move only when the market sustains below 45560 and shows some negative price action. It has been respecting a trend line and taking rejection from it. Bullish entries should be avoided until markets start trading above 46500 level. Resistance :- 46040, 46550 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
07 Feb ’24 — BankNifty needs to go above 46800 for stance changeBankNifty Analysis - Stance Neutral ➡️ Unfortunately, BankNifty has not gotten a stance upgrade yet, we still are in neutral territory. Only if we get past 46800 - the stance can be revised. Our opening minutes were almost there ~ 46062 levels but we quickly lost ground. In total, we gave up 439pts ~ 0.95% from the highs - but this was not scary or unusual - it is just that a single 4mts candle at 11.31 stands out, it took out 109pts ~ 0.24%. 4mts chart Till then BankNifty was looking quite okay with a gradually falling bias, that candle would have woken up the straddle sellers as their stop losses would have hit. If they kept the other leg open till the last minute, quite sure that would have given a scare too. Finally, we ended the day positively with a net gain of 127pts ~ 0.28%. The intraday day recovery of 317pts really helped BN gain back its lost ground to an extent. 63mts chart Between the last expiry and today - we have just lost 0.12% ~ 53pts which is not significant at all. But what is more important is that the support of 45399 is defended properly. As we drew the IH&S yesterday - we need a close above 46800 for strong bullish momentum to pick up and most likely that should help us take out the 47465 resistance as well. Will it happen tomorrow? Not sure. Will it happen in the next expiry? We would like to place our bets. Algo Trading Our BankNifty algo trades ended today with gains of 8204 rupees. The 11.31 stunt took away some gains, but we gained back the lost ground as further trades were not violent.
NSE:BANKNIFTY
by viswaram
Nifty & Bank Nifty Analysis For 08 Feb 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
#Banknifty directions and levels for February 6th. #Banknifty Banknifty also has a sharp correction structure. If the market takes a pullback, we can expect rally continuation when it breaks the immediate resistance (46103 to 46140). However, if it doesn't break that level, then the correction might continue. Alternatively, if the market opens with a gap-down, then we can expect a minor correction initially. If it rejects around 45509 or 61%, then we can expect a minimum of 23 to 38% pullback. On the other hand, if it consolidates or breaks around there, then the correction will likely continue.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Intraday Trade Setup For 06 Feb 2024BANKNIFTY Intraday Trade Setup For 06 Feb 2024 Bullish-Above 46050 Invalid-Below 45940 T- 46710 Bearish-Below 45600 Invalid-Above 45710 T- 44915 44350 BANKNIFTY has closed on a bearish note with 0.32% cut today. It was complete sideways the whole day, traded 400 points tight range. Tomorrow we can expect directional move on today's range breakout. Both side move will be trendy and with momentum hopefully. 46050 and 45600 are important levels for tomorrow's session. High probability trade will be in downside. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 46050 then we will long for the target of 46710. For selling we need a 15 Min candle close below 45600. T- 44915 and 44350. 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 Prediction for tomorrow 6th Feb 24As we discussed yesterday, the market went sideways, and after 2 PM, bearish momentum started. If we look at the chart data: Prices have broken to the downside and have consolidated nicely today. It might touch the target marked on the chart. It has also broken 200 EMA to the downside. EMA has given an EMACrossover(13, 200), which shows the market has turned bearish. If we look at the OI data: PCR = 0.64 shows the market has a bearish sentiment. 45800 is MAXPain; also, 46000 has huge CE writing, which will provide a nice resistance to the upside. I am expecting the market to fall more till the target is marked in the chart. Reasons The market has already given a breakout to the downside. (Bearish) Price < EMAs shows a bearish market structure. (Bearish) RSI < 40, which shows bulls are weak right now. (Bearish) Price < VWAP shows a bearish sentiment in the market. (Bearish) OI data shows PCR = 0.64, which shows the market is having bearish structure. (Bearish) Verdict: Bearish Plan of action: Sell 45700 CE (hedge it with 30rs CE).
NSE:BANKNIFTYShort
by finnova_
Banknifty bearish short termBank nifty is looking bearish for the short-term, Though the huge wicks formed on the hourly chart are a bit concerning. Since bank nifty is bullish on the monthly chart, I do not expect the prices to take down the weekly discount array. Instead, prices might fall to the daily discount array at 45481.50 which lines up perfectly with a mitigation block as well. So, as soon as Price reaches that level, I would be looking for longs on the five minute chart.
NSE:BANKNIFTYShort
by Ripul012
BANKNIFTY Intraday Trade Setup For 05 Feb 2024BANKNIFTY Intraday Trade Setup For 05 Feb 2024 Sell_1- From 46550 Invalid-Above 46660 T- 46225 46000 Bearish-Below 45900 Invalid-Above 46010 T- 45360 44850 BANKNIFTY has closed on a bullish note last week with 2.46% gain. While it closed on a bearish note last day as 46600 is a resistance in daily TF. Breakout of the resistance will be said when a daily candle closes above 46600. Since it created a bearish sentiment last day it can be sell on rise opportunity in case it tests 46550 via gap up. 45300 will be an important intraday support zone as per 0.618 retracement in hourly TF. Coming to Monday's trade setup, if index opens flat and a 15 Min candle below 45900 then we will short for the target 45285-45300. In case it opens gap up then we will short from 46550. T- 46225 and 46000. 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 prediction for tomorrow 05 FEB 24As we discussed, Banknifty touched Target 1 and then fell from there. Now, if we look at the charts , The market is making a rectangular pattern in an uptrend; now, it has broken to the downside. Also, we have 200 EMA support here. Banknifty is sitting in a make-and-break situation. It might take support, but if we look at RSI, bulls do not have strength. Also, the last 5 candles were intensely selling volume candles, which indicates the market will go bearish in upcoming sessions. OI data: PCR = 0.70 indicates the neutral behavior of the market. 46000 is the MaxPain. If it breaks to the downside, the next level of support is 45400. Also, on the upside, 46500 is a strong level of resistance. FII & DII data: FII is mildly bullish, whereas PRO seems to be mildly bearish, which gives neutral market behavior. I am expecting the market to go bearish in upcoming sessions: Reasons: The Market has broken to the downside of the Uptren rectangle pattern. (Bearish) The market is at 200 EMA, which might provide support. (Bullish Hope) (Neutral) 13EMA > Price ~= 200 EMA, which indicates market direction depends on price action on 200 EMA. RSI < 40, which shows the weak bulls sign in the market. (Bearish) Price < VWAP (Bearish) OI data PCR = 0.7 indicates neutral market behaviour. (Neutral) Verdict: Neutral (Mild Bearish) Plan of Action: Observe PA at 200 EMA. If the price is below the outside rectangle, go Bearish.
NSE:BANKNIFTY
by finnova_
3
02 Feb ’24 — There is something bothering the Banks, is it PayTMBankNifty Analysis - Stance Neutral ➡️ BankNifty surprises everyone today, the meltdown first started in the banks and persisted in the banks. Nifty was near the ATH - understandable, but BankNifty is a long way from its top - so the fear of highs could not be the reason for the fall today. The price action showed something deeper is troubling the banks - is it the PayTM & RBI tussle to be blamed? Or are the unsecured short-term small-amount loans turning RED? 4mts chart Anyway, the big-boys know it better than us and soon we will all know. Unfortunately from a technical analysis perspective, we cannot plan for these events. Today’s price action shows a big RED, but a week’s data looks neutral. 63mts chart Just when BN was trying to recover from the blow on 17th and 23rd Jan, we got the RED today. The recovery from 25th Jan via bouncing off the support looked promising and when the 45399 resistance was cut through - our hopes got pinned for a bullish comeback. The charts however still show neutral trade possibilities and the support of 45399 and resistance of 47465 as the first hurdle for a directional trend.
NSE:BANKNIFTY
by viswaram