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#Banknifty directions and levels for JAN 12.#Banknifty Banknifty has also progressed in sub-wave 4th (expanding diagonal). So, if it opens with a gap-up, there might be an undergo a 5th sub-wave. It may reach a minimum of 47,741 to the fib level 50%; after that, if it rejects sharply around there, then we can complete sub-wave 5th and anticipate the correctional (ABC) wave. This is the basic structure; however, if the market sustains or consolidates around there, then the 5th might extend. Bearish aspect: If the gap-up doesn't sustain or if it opens with a gap-down, it may take a range market structure. Alternatively, if it breaks the previous low, then we can expect correction continuation.
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY Prediction 12 Jan 24As we discussed, Banknifty has been moving in the range. Yesterday, it tried to break it to the downside, but the bulls came into power and again pushed back into the channel. Today, it opened a gap up and took resistance to the trendline, mostly having a sideways day. Again tried to break it to the downside, but the Bulls again pulled it back. Now, it's in the support zone. If it again breaks to the downside, it might give a nice momentum to the downside with a target of 47000. but if it breaks the trendline to the upside, it will be rejected from 200 EMA and might result in a sideways day again. If we see OI data, PCR = 0.80 weekly, which is neutral. But the monthly expiry PCR is 0.90, which leans towards the bulls side. Now, If it breaks the downside, a fall can be expected of 400 points. Otherwise, It might result in a sideways day in a range of 47450-48000. Reasons: Price < EMAs shows a bearishness in the market. (Bearish) RSI = 50, which is 40-60, mostly ends up a sideways day. If it breaks 60, it is upside bullish, or if it breaks 40, it is downside bearish; otherwise, sideways, 40-60 can be expected. OI shows PCR = 0.8 which is neutral. BN is making a descending triangle pattern that shows demand for an asset is weakening, so there are higher chances of breaking to the downside. Price < VWAP, which shows the bearishness. (Bearish) Verdict: Bearish if it breaks to downside AND sideways in the RANGE. Plan of action: Wait for 15 min to see Price action at opening; then place trades accordingly.
NSE:BANKNIFTYShort
by finnova_
3
Nifty & Bank Nifty Analysis For 12 Jan 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
10 Jan ’24 — Banks did not have the bull-punch today despite N50BankNifty Weekly Expiry Analysis Between the last expiry and today, BN fell 383pts and most importantly breached a support level (47539). Even though the start of the week was good, the bulls gave away the control to the bears by Friday. 16mts chart link BankNifty Today Analysis - Stance Bearish ⬇️ Unlike Nifty50, BankNifty did not have a strong pullback today. There was no wedge like formation, but the negativity was missing totally. The open was gap-down from which BN recovered decently and then remained range bound. BN was trading in green for most of the time today. 4mts chart link BN is not out of the bearish hold yet. The first thing that has to be taken care of is the 47539 resistance and the best way to take that out is via a gap up. It has become quite predictable these days, the way to go past a level is via a gap-up or gap-down. Neither the bulls nor the bears have the nerve to battle it out during the trading day. 63mts chart link Our stance remains bearish even for tomorrow. Will switch to neutral if we have a 63mts candle above the resistance level marked in blue. Even though we have the Nifty50 expiry tomorrow, the options premiums are looking pretty dead. Hoping BN strikes will have some juice for tomorrow.
NSE:BANKNIFTYShort
by viswaram
Banknifty - Intraday levels & Prediction for 11 Jan 2024Banknifty Prediction for Tomorrow Banknifty looks weak when comparing with Nifty, currently its trading below Previous week low. We can expect reversal either from PWL, or PDH BNF target for upcoming days is 46400 and below Look for Buy/Sell at Demand and Supply zone for profitable trades. Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support. Refer the chart for detailed Intraday Support and Resistance levels. Happy Trading!!
NSE:BANKNIFTYShort
by ViVenTraders
FASP levels for Bank Nifty 10/01/2024The FASP for BankNifty is listed for 10-01-2024. 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 prediction for tomorrow 10 Jan 24As we discussed Banknifty bearishness yesterday, it opened a Gap-up and then took resistance at 200 EMA, then it fell with quite a nice volume. Also, it did break the pattern to the downside. Also, 47400 was acting as a very nice support but has been broken with good volume and selling pressure. The volume of those candles was very demanding. If we look at the OI data, it also suggests that PCR = 0.48, which is super bearish. And this much fall in OI has not been seen in the past 2-3 months. I am expecting a fall till 47000 as the first target and 46600 as 2nd target is achievable. All important levels have been marked on the chart. I am expecting a bearishness in tomorrow’s session. Reason: The chart has broken to the downside, which shows a super bearish structure. (Bearish) OI data shows PCR = 0.48, which is assumed to be the bearish market condition. Today, a large quantity of PE is being exited, which can be seen in the daily OI change. (Bearish) RSI has dropped to the bearish zone (<40), which shows very weak bulls in the market. (Bearish) Price < EMAs that shows price is weaker; Supply > Demand (Bearish). according to GIFTNIFTY, the market might open a Gap-up and then fall from the price action level marked in the chart. Price < VWAP shows bearishness, which might lead to a good fall. (Bearishness) It is making HNS, which is at the top of the Bull trend that might lead to a very bearish structure. (Bearish) Verdict: Super Bearish Plan of action: Bearish if it rejects the 47400 level; otherwise, wait for PA at 47400. Note: PA = Price Action
NSE:BANKNIFTYShort
by finnova_
#Banknifty directions and levels for JAN 9th."Good morning, friends! Here are the directions for January 9th: The global market sentiment remains moderately bearish, supported by the Dow Jones, while our local market sentiment reflects a similar trend. It might open with a gap-up start, as indicated by Giftnifty showing a +120. If the gap-up sustains, our minimum target is 38%. Should it break, a pullback is likely to continue, reaching levels of 50% and 61%. On the other hand, if it rejects around 38% or the gap-up doesn't sustain, we can expect a correction. Continuation will only occur if it breaks the immediate support level."
NSE:BANKNIFTY
by Manickamtraders
BANKNIFTY prediction for tomorrow 9 Jan 24As we discussed yesterday, Banknifty could not break to the upside. it stayed inside and fell heavily. As looking at the chart structure has broken outside the pattern to the downside. I am expecting it to fall more till level 46950. also, OI data PCR = 0.60 shows super Bearishness in the market. You can see the OI chart, which shows the MAXPAIN 47500. If it breaks to the downside, then a big fall directly to level 47950 is achievable. My View will be Bearish for tomorrow. Reasons: The chart has broken to the downside, which shows a super bearish structure. (Bearish) OI data shows PCR = 0.6, which is assumed to be the bearish market condition. Today, CE was added in large quantities, which can be seen in the daily OI change. (Bearish) RSI has dropped to the bearish zone (<40), which shows very weak bulls in the market. Price < EMAs that shows price is weaker; Supply > Demand (Bearish). 47450 might be acting as price action support, but as the selling pressure for today was quite high, it's less probable that the market will hold that level. Bears activate your trade once the 47500 level is clear. Try to avoid making an early entry. Verdict: Bearish Plan of action: Bearish if it Breaks the 47500 level to the downside; otherwise, wait for PA at 47500. Note: PA = Price Action
NSE:BANKNIFTYShort
by finnova_
08 Jan ’24 — BankNifty breaks the 47539 support - stance bearishBankNifty Analysis - Stance Bearish ⬇️ The chart of BankNifty was more dramatic and powerful. The total swing range was 765pts ~ 1.59%. The support of 47539 was broken only at 14.31 and there was not much time left for the next leg of fall today. 4mts chart link What BankNifty and Nifty have done in January was to take out the stop loss twice. Last week we saw some strong fight back and they managed to get the stance changed from bearish to neutral. And today the tables have turned and the chart looks bearish. BankNifty has walked ahead of Nifty because it has already broken the ascending channel - so the break of support today should give it some more thrust. 63mts chart link The support is only broken on the lower TF, we ran out of time for further action today. This means that the forenoon session will be quite critical tomorrow. If the bears can hold the banks below the 47539 levels - we could see some action picking up. The options flow also indicated an immense short buildup for the CALLS - which may be indicating tiredness in the uptrend. Our stance for tomorrow is bearish.
NSE:BANKNIFTYShort
by viswaram
#Banknifty directions and levels for JAN 8th"Here are the directions for January 8th: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment shows a similar trend. It might open with a neutral to gap-down start, as indicated by Giftnifty showing -5. I've mentioned a range market structure, so if it undergoes correction, we can expect a minimum of a 78% minor swing correction. On the other hand, if it experiences a pullback initially, it will likely reach the supply zone to swing high. These are basic range market targets. Range market trades are crucial for option buyers, so take your position if the structure is convenient for you. If there are any changes during the mid-market session, I will provide an update."
NSE:BANKNIFTY
by Manickamtraders
05 Jan ’24 — BankNifty gets a sharp reversal at 14.19 & pulls UPBankNifty Analysis - Stance Neutral ➡️ BankNifty opened inline and was looking quite decent till 10.07. The fall that came after that took out 559pts ~ 1.16%. Not quite sure what triggered that fall. Due to this, the impact was felt even on Nifty50. NiftyIT was roaring green at one end and then BankNifty underperforming at the other. 4mts chart link Remember, we changed our stance from bearish to neutral yesterday and this fall started creating conflicting thoughts in our mind. What if the price action we had yesterday was a blip? But we got the right answers between 14.15 to 14.31 when Nifty50 managed to pull back. This also lifted BankNifty to ensure a flat closing for today. 63mts chart link The neutral stance continues. On the downside, we have protection at 47539, and on the upside, the channel bottom line will prove as a minor resistance. As long as BN stays between these two, we will be glad to look out for non-directional option strategies.
NSE:BANKNIFTY
by viswaram
Banknifty Prediction for tomorrow 8th Jan 24Last, we discussed Bank Nifty on the 3rd of January. It took very nice support from there and gave a very nice target, as expected. For tomorrow, as we can see from the charts, it has prepared an inverted HNS pattern. If that breaks to the upside, it's going to give us a very good target of 49000. But on the other hand, it might also take resistance from here and again test the 200 EMA to the downside. But by looking at the trend strength, there are more chances to break to the upside. If it breaks to the upside, we can go bullish; else, play neutral unless some sign of bearishness is there. Key Points: It's making an Inverted HNS pattern. If it breaks to the upside, it will give a nice target of 49000. (Bullish) Price > EMA(13,50,200) which shows price have strength. The bulls are in control. (Bullish) EMA(13,50) crossover shows bullishness in the Market. RSI ~ 50 increasing continuously; if it breaks 60 to the upside, it will enter into the bullish zone, and good momentum can be expected. OI data PCR = 0.7 raises some concerns about the bullish momentum; wait for it to go more than 0.85. Then you can enter the bull side. upper trendline can provide rejection as it activated sellers in the last 30 min. It may provide resistance. Verdict: If it Breaks the HNS neckline (Trendline) to the upside, go Bullish. Plan of Action: If break successful Sell 48200 PE + Buy 46900 PE (For protection + Hedge in worst case) + Buy 48100 CE (To capture Bull momentum)
NSE:BANKNIFTYLong
by finnova_
#Banknifty directions and levels for Jan 5thBanknifty also opens neutrally based on Giftnifty's indication. Should it experience a pullback, it might reach 48391, entering the supply zone. Structurally, this marks a sub-wave 3rd continuation. If it rejects either 48391 or the supply zone, a minor 4th correctional wave might occur, ranging from 23% to 38% Fibonacci correction. Once the 4th wave completes (with support around 38%, displaying a three-wave structure), we can expect the 5th impulsive wave (pullback wave). Bearish perspective: Even if it opens with a gap-down, considering it as a 4th correctional wave, we can follow the previous statement. The crucial aspect here is if it breaches the 38% Fibonacci level, it might enter a range market between yesterday's high and the previous low.
NSE:BANKNIFTY
by Manickamtraders
Banknifty weekly expiry levels for 03/01/24.Banknifty has given a fall in daily charts, closing below the round number figure of 48k. It is sitting around 50% fibonacci levels. Either it will retest 38.2% level or come to test 61.8% levels. Major Support levels :- 47675, 47460 Tomorrow is weekly expiry and today itself has given a 470 points fall. If the market remain bearish the lower levels can be tested. Resistance:- 48070-150, 48460 Market has given a retracement. There can be a chance of market reversing but will take a halt candle before reversing. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
03 Jan ’24 — BankNifty holds the line today, Bears still around.BankNifty Weekly Expiry Analysis BN just fell 742pts ~ 1.53% between the last expiry and today, logically it got only 4 working days as the last expiry was on a Thursday. A 742pts move is nothing considering the shape BN is currently in. Since the stance is now bearish, we are hoping for a build-up in the momentum soon. 63mts chart link BankNifty Today Analysis - Stance Bearish ⬇️ So both BN and N50 have the same stance of “bearish” now. Usually, when the directional bias is the same for both these indices, we expect the markets to cover some ground quickly. 4mts chart link Except for the opening candle, BN had a pretty boring day otherwise. BN was keeping the losses under control on Nifty. And the banks ICICIBANK, AXISBANK & KOTAKBANK were trending in the opposite direction of HDFCBANK. Yesterday it was the real opposite - HDFC was staying cool while the others were dropping. The expiry was meaningful today with frequent surges of volatility swinging the strike premiums. Even though BN managed to tread above water for some time, there were no visible signs of a bullish recovery. 16mts chart link We are quite safely away from the channel now. To renter it, BN will have to rise to 48600+ tomorrow. If it doesn't, then it's in the bear’s control. We continue to look for shorting opportunities with the first target as 47006.
NSE:BANKNIFTYShort
by viswaram
Bank Nifty - 04/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 04/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 47675 – 47690 Important Support and Resistance for the Day... Support - Resistance - Support-1: 47675 Resistance-1: 47878 Support-2: 47500 Resistance-2: 48110 Support-3: 47407 Resistance-3: 48216 Big-Support: 47200 Big- Resistance: 48450 ____________________________________________ Happy Learning and Trading – TST5121 Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends. SHORT FORM &FULL FORM 0.5 -> 0.5% Swing PDH -> Previous Day High PDL -> Previous Day Low PDC -> Previous Day Close PDO -> Previous Day Open PWH -> Previous Week High PWO -> Previous Week Open PWC -> Previous Week Close PWL -> Previous Week Low D_S -> Day Support D_R -> Day Resistance W_S -> Week Support W_R -> Week Resistance W_O -> Week Open W_C -> Week Close LW_O -> Last Week Open LW_C -> Last Week Close IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones MS -> Major Support SH -> Swing-High SL -> Swing-Low DT -> Double Top DB -> Double Bottom TT -> Triple Top TB -> Triple Bottom TF -> Time Frame BO -> Break-Out RR -> Risk-Reward SL -> Stop-Loss GAP -> The area b/w Previous Day Close and Today Open Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals) If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1. (Or) If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL. Possibility 2: GAP-UP If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH. (Or) If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility 3: GAP-DOWN If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. (Or) If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.
NSE:BANKNIFTY
by SriTrader5121
Banknifty live prediction for today 3 Jan 24As we discussed Banknifty, Banknifty gave a nice momentum yesterday and continues to go bearish today. But as we see the chart structure, it has been preparing for the rising wedge pattern. And right now, it is on the verge of breaking down to the downside. But it can also support 200 EMA and support zones. Here right now, two possible decisions can totally depend on how it reacts to the support zone. Looking at the pressure, it might break to the downside. Reasons: Price < EMAs that means bears are in control. 200 EMA might provide a good support. Also, it coincides with the Trend Support Zone, which might provide the support. The RSI value is very low, which shows that bulls are weak at this point. But at the same time, the market is oversold. if we see the OI data PCR = 0.71 which is bearish side. the market has more chances to go down. it has given EMA(13,50) crossover that means market is having bearish tendency. Verdict: Bearish unless you take support at zone. Plan of action: wait for the market to act to this level.
NSE:BANKNIFTYShort
by finnova_