The FASP for BankNifty is listed for 25-08-2023. 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...
"Good morning! As of August 25th, the global market sentiment is negative, based on the Dow Jones alone. The market trend is bearish, and the market might open with a long gap down. Therefore, we don't know where it will open. If the market finds support around the immediate support zone, we can expect a minimum pullback of 23% to 38%. On the other hand, if the...
Both Nifty and Bank Nifty are at previous day's/week's support point. If these support points turn as Resistance levels then we could expect a Downward consolidation for another month. My expectation is that Nifty will be tested for 19300 level and then to start a trending line
BankNifty Weekly Analysis Between the last expiry and today, BankNifty has gained 595pts ~ 1.36%. This is exactly why I said banknifty works as a leading indicator to detect trend changes. If you notice carefully the outperformance has started in BN, not quite in N50 (up only 0.17% weekly). And in the turn of events today, BN held its ground - cheers for that ! ...
This is bank nifty 1hour chart in which decline from 46369 to 43600 is (a or i) and bounce from 43600 to 44950 is corrective wave (b or ii) and now wave (c or iii) is already started and its minimum projection range is 42180-41527. Use 44800 as stop loss for this trade.
Today will be gap up opening in BANKNIFTY . After opening if banknifty sustain above 44550 level then possible upside rally of 400-500 points upto 44950 Level. And this rally can extend for another 400 points if it gives breakout of 45050 level. Any Major downside only expected in case banknifty starts trading below 44450 level.
#BankNifty Technical Analysis, #Strong #supplyand DemandZones. Views i have shared is Intra to Positional Views
We will start with BankNifty today, because we had a reversal pattern today. According to me trend changes are first spotted on BankNifty and hence it works as a leading indicator. This is what I said in yesterday’s report: Also note that the falling wedge will converge tomorrow, so a strong up move is more dangerous. The bulls will use that opportunity to drive...
Banknifty as long as it is above 43600 and below 44212 is side ways. Also it can turn out to be a base building for upside move. until 15 min candle close above these levels, no momentum can be expected and direction for short term remain bearish to sideways.
Today will be gap up opening in BANKNIFTY . After opening if banknifty sustain above 44050 level then possible upside rally of 400-500 points upto 44450 Level. Any Major downside only expected in case banknifty starts trading below 43950 level. & this rally can extend 400 points if market gives breakdown of 43450 level.
There is a clear resistance at 43200 level, which will be critical level. Even if there is any breakout at resistance level there could be a consolidation till the 44500 level. There could be a retest at downward support level as there are two trading sessions before the expiry.
The reason why we were bearish in the first place was the inability of BankNifty to take out the resistance of 44068. Today’s price action is the biggest proof on why it worked. If you notice the trades today, it was above or near this level till 13.40. Then banknifty started falling. And the final close came at 43950 - there was a noticeable fall of 160pts from...
Market are still not in a trending phase and it consolidating in a narrow range. Banknifty after a gap up opening tried to trade above 44100 levels but couldn't sustain above the levels and came for selling in the second half of the session after consolidating in the first half. On the hourly charts, market has closed around 20 ema and is trading around 44k...
Today will be FLAT opening in BANKNIFTY . After opening if banknifty start trading above 44050 level then possible upside rally of 400-500 points upto 44450 Level. Any Major downside only expected in case banknifty starts trading below 43950 level.
Looking at the way Nifty performed in the morning session, I was quite worried that the stance on BankNifty might also have to be changed. The level that we were looking for was 44068 which is the first resistance zone. At 13.15 we broke that in the 5mts candle, and then we broke it again at 13.55 - but the momentum was not strong enough. There was a strong fall...
Banknifty opened gap up and retested the trendline. The market has closed 150 points higher and remained in a upmove during the first half of the trading session. It has formed a perfect doji on the daily charts but is still not showing some conviction of holding higher levels. On the hourly charts, market gave a nice upmove and took resistance around 44100...
Banknifty important levels to watch are as follows #Support: 43735 Sell below: 43735 only on 15 minute candle closure below the level. Target 1: 43520 Target 2: 43290 #Resistance: 43925 Buy Above: 43925 only on 15 minute candle closure Above the level. Target 1: 44070 Target 2: 44281 #Demand Zone: 43730-43810 may act as a immediate buying zone, and price...
Banknifty has been trading around a major support levels and is around weekly 20 ema. It is taking support from the moving average. For last 4 weeks market has given red candles and has formed a confusion candle this week. On the daily charts, market is stuck in a small range which shows that there is a high probability of a trend market in this week. Banknifty...