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Bankniftytrend

02 Jan ’24 — BankNifty below the channel, Bears taking control?BankNifty Analysis - Stance Bearish All checkboxes ticked for a bearish trend reversal. Firstly, we got confirmation when we breached the ascending channel bottom line. Secondly, there was no attempt to retrace once we started falling. The low of the day was hit towards the end of session. 4mts chart link - click here BankNifty has been the torchbearer for the trend reversals. Of late we were worried that the baton may be passed on to NiftyIT. The leader earlier and now is still BankNifty - today’s move was quite indicative of that. If it goes as per the script, we should be seeing further followthrough by Nifty & FinNifty tomorrow. 63mts chart link - click here The last time we tried to breach the channel bottom line was on 21st Dec. It ended up as a trap for the bears. This time around, we have 6 candles created below the bottom line, and 5 of them in RED. Hope is not a keyword, but the bears have to cling to something to create momentum. We have anyway revised the stance to bearish with the first target being 47462 followed by 46939.
NSE:BANKNIFTYShort
by viswaram
Banknifty prediction for today 2nd jan 24As we discussed in our last analysis, it has been in the up-channel. Yesterday, it did give a very lazy sideways move and then tried to go higher, but in the last 30 minutes, bearish sold like anything. and took control of the market. But if we look at the OI data, PCR is 0.82, which is neutral. And the chart channel has broken to the downside. I am expecting a bearish move today. Reasons: PRICE < EMA(13,50) (Bearish), meanwhile almost equal to EMA 200. That means it might take support at 200 EMA. RSI < 40 sharp falls, shows control is in the bear's Hands. (Bearish) channel has been broken to the downside. (Bearish) OI data PCR 0.82 is neutral, but if there is a CE selling, then bears will be in total control of the market. If it starts the bearish move, there is next support at 47450. it could be a nice day with good bearish momentum. Verdict: Bearish Plan of action: Sell 48100 CE + Buy 48900 CE
NSE:BANKNIFTYShort
by finnova_
#Banknifty directions and levels for January 1st.Here are the directions for January 1st: The global market sentiment is moderately bullish, 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 -40. Structurally, both Nifty and BankNifty indicate a range market, so we can expect significant movement after the immediate levels are broken. On the other hand, if they reject around the immediate level, then the range is likely to continue."
NSE:BANKNIFTY
by Manickamtraders
Banknifty - Intraday levels & Prediction for 02nd Jan 2024Happy New Year 2024 to everyone.. New beginnings are just around the corner. Banknifty Prediction for Tomorrow BEARISH Reversal from trend line resistance 48530, any breakout of trend line and resistance zone of 48610-48640 levels we can expect BULLISH Rally. 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 29/12/2023The FASP for BankNifty is listed for 29-12-2023. 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 DEC 28th"Good morning, friends. Here are the directions for December 28th: The global market sentiment is bullish, supported by the Dow Jones, while our local market sentiment shows a similar trend. It might open with a gap-up start, as indicated by Giftnifty showing +80. >The markets are closed at an all-time high. The trend also clearly indicates a bullish tendency, so if the gap-up sustains, we can expect a rally continuation with minor consolidation. The wave structure also indicates a clear bullish trend (minor 3rd wave). >We can expect a correction only if it breaks the Fibonacci level of 38% with the initial market decline. Otherwise, the declines might find support (Fib level 38%) and create a range market for rally continuation."
NSE:BANKNIFTY
by Manickamtraders
27th Dec ’23 -BankNifty gets a NEW ATH inside the ASC. channelBankNifty Analysis BankNifty is still caught between the upper & lower end of the ascending channel. Even then it managed to scale to a new all-time high of 48347. Half of the traders would have thought BN would have expiry today, the best way to remember would be to use post-it-notes saying BN expires with Nifty on the last week of the month. 4mts chart link - click here BN also had a slight gap-up, but the leg1 of the rally was quite strong. We gained 480pts ~ 1.01% till 12.07 before giving away 356pts ~ 0.74%. Leg2 it rallied 458pts ~ 0.96% but not enough to break out of the channel top line. 63mts chart link - click here Once BN got back into the channel - it is finding it difficult to break down or break away. Somehow the boundaries are getting respected. BN hitting a new top ensured that the stance changed from neutral to bullish. I am seriously thinking if the momentum is intact we should be getting that channel breakout tomorrow. Since it is a monthly expiry a bit of volatility cannot be ruled out as well.
NSE:BANKNIFTYLong
by viswaram
BANK NIFTY INTRADAY LEVELS FOR 28/12/2023BUY ABOVE - 48350 SL - 48200 TARGETS - 48600,48800,49000 SELL BELOW - 48030 SL - 48200 TARGETS - 47820,47650,47420 NO TRADE ZONE - 48030 to 48350 Previous Day High - 48350 Previous Day Low - 47820 I am sharing BANK NIFTY levels this levels acts as important support & resistance for intraday. if you want to trade with this levels wait for 15 min Candle closing above that levels. You can trade with breakout and reversal both. In this channel, I share my expertise in trading strategies, technical analysis, and market trends to help you make informed decisions in your trading ventures. Stay tuned for daily updates, in-depth market analyses, and real-time trading scenarios to witness firsthand how we transform from Zero to Hero in the trading world. My Only aim is to empower you with the knowledge and skills necessary to navigate the complexities of the financial markets successfully. Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:BANKNIFTY
by Jagadheesh_JP
7
#banknifty directions and levels for DEC 26th"Good morning, friends. Here are the directions for December 26th: 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 a gap-up start, as indicated by Giftnifty showing +45. If the market sustains the gap-up or consolidates, we can expect a range market to pull back for continuation. On the other hand, if the initial market declines sharply or the initial pullback is rejected around the immediate resistance, then we can expect a correction. In my opinion, we are experiencing a range market structure, which is a challenging aspect of trading. Therefore, if we witness a solid structure or minor consolidation, we can consider this for a trend continuation trade."
NSE:BANKNIFTY
by Manickamtraders
FASP levels for Bank Nifty 26/12/2023The FASP for BankNifty is listed for 26-12-2023. 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 - Weekly Analysis & Prediction for 26 to 29th Dec 202Banknifty Prediction for Tuesday and Next Week BEARISH Trend & Strong Trending move is expected I have marked the support and resistance levels in the chart which you it yours and plot the levels on your chart. Also I have marked the direction which Im expecting next week and for tuesday. 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
BANKNIFTY Sideways prediction for tomorrow 26 Dec 23Banknifty has been facing resistance at 48000. according to the OI data, 48000 has PCR 0.33, which is very hard resistance to break. 47500 is the intermediate decision point from which it can fall or take support. Today, it was mostly New CE writing and PE roundoff, which shows a bearish trend is nearby. Also, an ascending triangle pattern is formed; if it breaks to the upside, then the trend will continue. But by the time it's inside the ascending triangle, its move is going to be sideways. Reasons: RSI = 40 decline, which means its weak bull power. An ascending triangle Pattern is being formed. EMA(200) < Price < EMA(13,50), which means 200 will provide support and 50 EMA upside will provide resistance, which will result in sideways. PCR = 0.93, which is mildly Bullish. Continued CE writing at higher levels shows bearishness. Verdict: Sideways in ascending triangle Plan of action: IRON condor with a range of 500 points.
NSE:BANKNIFTY
by finnova_
#Banknifty directions and levels for DEC 22.#Banknifty "According to the wave structure, a subwave three seems to be in progress. Therefore, if the market opens with a gap-up, it's probable that the 3rd wave will likely continue. Once the 3rd wave completes around (SZ or 48389), the 4th wave might undergo a minor correction ranging from 23 to 38%. This correction is also applicable in the case of an initial market decline. This represents the basic structure. However, if the correction breaches the 38% Fibonacci level, it might extend to the 50 to 78% Fibonacci level."
NSE:BANKNIFTY
by Manickamtraders
21st Dec ’23 - BankNifty leads from the front, stance is NEUTRALBankNifty Analysis I initially thought the wolf in the sheep’s costume was NiftyIT today spoiling the fun of the Bears. The real culprit was BankNifty - the way it defended its turf today was more than amazing. Even though we had a lower opening, HDFCBANK was staying strong at one end. You know pretty well that HDFCBK alone can drive up/down the index as its weight on the index is manipulatively sizeable. 4mts chart link - click here Just like a Tug-of-War, HDFCBK was at the rear end acting as the anchor. It bolted itself to the ground and ensured BN was not slipping. Somehow it worked. The first thing BN did was to retest the lower end of the ascending channel i.e. between 10.07 to 10.55. Once it broke out - it retested the same line from a support perspective i.e. b/w 13.55 to 14.11. The 2nd test was rejected which gave it massive momentum to break free (upside). The next stop was right at the top end of the channel i.e. b/w 14.47 to 15.19. You might have to see the encircled portion in the chart to know what I am referring to. 63mts chart link - click here Can you believe - All the candles today were GREEN. We started at the lower end of the channel and ended at the top boundary stopped only by the bell. Today’s price action almost nullified yesterday’s move and seeing the way BN fought back, I wish to change my stance to neutral for tomorrow. Will go bearish once 47400 gives away and will go bullish if the ATM is taken out. The options premium did not have any excesses today indicating that a big move may not be expected - will update you via TV minds if I see something interesting tomorrow.
NSE:BANKNIFTY
by viswaram
FASP levels for Bank Nifty 22/12/2023The FASP for BankNifty is listed for 22-12-2023. 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