#Bankniftystructurally, we can anticipate a rally
continuation if it breaks supply zone.
if it rejects there it will reach 23 to 38% correction.
Bankniftytrend
Will Bank Nifty break its ATH?An inverted Head and Shoulder pattern activated on the daily charts of Banknifty after completing the restesting of 200 Daily Moving Average (DMA). It is very very good sign which confirms that bank nifty may breach its all time high as nifty has already did.
All the traders who are aware, they know the imapct of the pattern and its results....
1st Dec ’23 - BankNifty's next move will help Nifty to breakoutBankNifty Analysis
Nifty had the gap-up today, whereas BankNifty opened inline but just above the resistance level. 44542 quickly became support and was bid goodbye with the consecutive green candles till 09.50. After that the momentum on BankNifty stalled and we had a flat trade for the remainder of the day.
5mts chart link - click here
BankNifty gained points during trading hours i.e. active trading vs Nifty’s Gap-up. This shows real courage among the BN bulls.
1D chart link - click here
BankNifty has another 1555pts ~ 3.4% to reach the ATH. From the chart above - you can see we dropped 9% after hitting the double top (M pattern). Nifty’s next action is hugely dependent on BankNifty’s attempt to regain the ATH. I would still like to continue with my bullish stance until proven wrong by taking out the supports. Will trade the morning hours of Monday with a bit of caution as the election results may play spoilsport.
BankNIFTY weekly prediction for 6th Dec Expiryas we have already discussed Banknifty has given breakout. and yesterday it also had a consolidation i will not say it was a healthy one. but I was monthly expiry and rounded well for bulls. Now I am expecting it to move bullish whole this week. Target 1 will be 45561, then some consolidation and it will move to all time high 46250.
Reasons:
Price has already broken out 2 month breakout with Inverted HNS. (Bullish)
RSI is in bullish zone crossing 60 to upside. (Bullish)
Bullish Golden crossover successful. (Bullish)
Inverted HNS breakout and successful retesting of neck-line. (Bullish)
According to OI, PCR: 1.24 (Bullish) with max pain = 44900 or 45000. Bears is not having much of positions that bulls have to worried right now.
Verdict:
Strong Bullish
Plan of action:
Sell 44900 PE and Buy 43700 PE
#Banknifty directions and levels for DEC 1st"Good morning, friends🌺! As of December 1st, the global market sentiment remains bullish, supported by the Dow Jones. However, our local market sentiment shows a moderately bullish trend. It might open with a gap-up, considering the GiftNifty value at +70.
After that, if the market sustains the gap up or consolidates, then we can expect a rally continuation.
On the other hand, if it doesn't sustain or if it rejects around the immediate resistance level, we can expect a correction of at least 38 to 78% in the minor swing."
BANK NIFTY expiry movement prediction with levelsNSE:BANKNIFTY bank nifty buy zell zone movement based prediction, above 44700 bnf can hit the targets market above 44700 and below 44450 we may see 44200/44160 or 44000 zone being retested, be carefull and warch the price action being formed at the buy/sell zones and plan your trades accordingly.
PS- BEST TIMEFRAME FOR THESE ZONES ARE 15 MIN OR 30 MINS ONLY.
#Banknifty directions and levels for NOV 30"Good morning, friends🌺! As of November 30th, the global market sentiment remains bullish, supported by the Dow Jones. However, our local market exhibits a significantly bullish trend. It might open with a neutral to a slight gap-down, considering the GiftNifty value at -10.
Structurally, it appears to be a range-bound market. Even if it opens with a gap-up or gap-down, a minor correction of 23 to 38% can be expected. The rally will persist only if the market solidly breaks the immediate resistance level.
This same sentiment applies to a bearish structure, indicating that a correction will occur only if it breaks the 38% Fibonacci level. Until then, we can anticipate the market remaining within a range."
29th Nov ’23 - BankNifty Outperforms & is now bullish 🐂🐂🐂BankNifty Analysis
Recap from yesterday: “BankNifty has picked up decent momentum from 22nd Nov when it bounced from the 43253 support level. The next level to watch is 44063 and till that is not taken out, I wish to maintain my neutral stance. Once BankNifty also goes bullish, it will be a treat to watch as Nifty is already long.”
5mts chart link - click here
The gap-up was right at the SR zone of 44063 and it helped BankNifty change its sentiment. For the initial 30mts, BN was a little hesitant to make its move but as it held out the support level - it may have gained the confidence of the bulls. Hope you got my tradingview minds update as I went long today.
And yes, it was definitely a treat to watch as both BankNifty and Nifty were on the long side today. Even the NiftyIT also supported today which meant there was no stopping. BankNifty went on to gain another 569pts ~ 1.29% once it defended its support. The total gains today were 685pts ~ 1.56%.
Between 14.45 to 15.10, it took out another resistance level at 44542, this came as a surprise to me as I thought the resistance may hold. Since tomorrow is the expiry day for both Nifty and BankNifty we may some action in 2nd half.
1hr chart link - click here
See the encircled region on the 1hr TF, 15th & 16th November when we were still in that ascending channel. The news that broke ensured BankNifty fell, but see what happened - the rebound was much more powerful. Today’s 14.15 candle alone grabbed 268pts ~ 0.61% and most importantly helped BN close above this encircled region. My stance is bullish on BN with 44763 as the first target. Keep in mind, a strong resistance is coming up at 45399.
FASP levels for Bank Nifty 30/11/2023The FASP for BankNifty is listed for 30-11-2023. 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.
Banknifty Intraday ViewBank Nifty has been weak in the past few days and is underperforming. Today, the 9:30 candle created a firm support.
Marked levels can act as suitable targets for BNF to reach today. There can be a huge gamma blast if BNF crosses 44160. 44272 can be an achievable target for BNF. ~44400 is the last known resistance, which made BNF move down close to 1000 points.
Inverted HnS Breakout in BANKNIFTYBNF gave a beautiful breakout from this Inverted HnS pattern. It can reach upto Previous ATH. Have a long bias
Bank nifty will take break in the zone tomrrow? !!!!Bank Nifty after a jump.... what next !!!!!
Will it take rest in the marked zone or jump or reverse....
Keep Learning with NG
#Banknifty directions and levels for NOV 29th"Good morning, friends🌺! As of November 29th, the global market sentiment remains bullish, as indicated by the Dow Jones. However, our local market shows a moderately bullish trend. It might open with a slight gap-up start, considering the GiftNifty value at +60.
If the gap-up sustains, then we can expect a rally continuation with minor consolidation. On the other hand, if the gap-up doesn't sustain or if it sharply rejects around the immediate resistance level, then we can expect a correction, which may involve a minimum 23% to 38% Fibonacci correction. However, a proper reversal will only occur if it breaks the 38% level."
BankNifty Breakout prediction for today 29 Nov 23As we discussed yesterday, Banknifty moved to upside and took a retrace and again continue the bullish momentum. By looking the chart and OI data Banknifty is highly likely to move in the up direction.
Reasons:
BANKNIFTY break the range by making inverted HNS pattern. (Bullish)
RSI has broken to upside and retraced. (Bullish)
Price > EMAs (Bullish)
EMAs golden crossover. (Bullish)
PCR = 1.12 (Bullish)
Verdict:
Bullish
Plan of action:
Sell 43900 PE and Buy 44000 CE
28th Nov ’23 - BankNifty is neutral till 44063 is taken out BankNifty Analysis
BankNifty was following the last day’s price momentum, but it did not have an acceleration similar to Nifty today. Well the main reason why Nifty got that push was due to the 10% upper circuit hit on ADANIENT. Even ADANIPORTS also closed quite well today. Both of them combined added 39+ pts to Nifty’s gains today ~ 0.19%. You deduct that, you almost get the 0.26% net gains same as BankNifty today.
5mts chart link - click here
That does not mean BankNifty did poorly today. We almost had a W like pattern between 13.00 and close. The next resistance of 44063 is still not taken out, which means we need to watch how it will react to the opening hours tomorrow. Also tomorrow we have no expiries as BankNifty will expire the same as Nifty & Sensex this Thursday.
1hr chart link - click here
BankNifty has picked up decent momentum from 22nd Nov when it bounced from the 43253 support level. The next level to watch is 44063 and till that is not taken out, I wish to maintain my neutral stance. Once BankNifty also goes bullish, it will be a treat to watch as Nifty is already long.
General Insurance Making Round Bottom...Boom in Insurance marketAll INSURANCE sector STOCKS in breakout level watch.. Them
- LICI , GICRE , NIACL , Edelweiss.
- Edelweiss -you can also look on my past analysis on this stock
Or should i post charts of all these stocks ?...
- Highest ever quarterly sales of 13000cr and net profit of 1600 crore.
- Highest ever yearly net profit in segment after LIC and highest ever sales after LIC.
Please note that I'm not a financial advisor, and investing in the stock market involves risks. It's important to do thorough research or consult with a financial professional before making any investment decisions.
#Banknifty Directions and levels for NOV 28"Good morning, friends🌺! As of November 28th, there is no significant difference in the global and our local market sentiments compared to the last session. The global market sentiment remains bullish, as indicated by the Dow Jones. However, our local market shows a moderately bearish trend. It might open with a slight gap-up or a neutral start, considering the GiftNifty value at +5.
Structurally, there is a distribution wave occurring. So, if the market experiences a pullback with grinding, we can expect rejection around the immediate resistance level. However, if the pullback forms a solid structure, we can consider that a bullish sign.
On the other hand, if the market opens with a gap-down or experiences sharp initial declines, the range-bound market is likely to continue."🤝
Kotakbank Intraday or 1 week HoldKotakBank seems good above 1754 for 1D or 1W hold, Banking sector is in positive mood we can say a good rally
24th Nov ’23 - BankNifty has to take out a crucial resistance.BankNifty Analysis
BankNifty had a positive-looking chart today, it was kind of obvious from the optimism it showed in the last 2 days. The first thing it did today morning was to take support from the 43566 area i.e. between 09.45 to 10.05
5mts chart link - click here
At 10.40 it had a strong green candle and it looked like it was going for the next resistance area, but that momentum was cut short. Between 13.00 and 13.15 we started falling again and luckily we did not reach the SR area of 43566 to reverse. The recovery from 13.15 to close was decent enough and we gained 216pts ~ 0.5%. The main factor that kept Nifty neutral today was the outperformance by banks today, most of them would not have realized that NiftyIT lost almost a percent today.
1hr chart link - click here
Looking at the 1hr TF, I am still inclined to go neutral unless we take out the 44063 resistance. To go bearish, 43253 has to be broken - in between we have 2 more support levels.
#Banknifty directions and levels for NOV 24th"Good morning, friends! As of November 24th, there is no significant difference in the global and our local market sentiments compared to the last session. The global market sentiment remains bullish, indicated by the Dow Jones. However, our local market shows a moderately bearish trend. It might open with a slight gap-up or a neutral start, considering the GiftNifty value at +10.
Subsequently, if the market experiences a pullback, we shouldn't anticipate a significant move unless it breaks the immediate resistance.
Simultaneously, if it faces rejection around the immediate resistance, the market will likely continue within a range.
Conversely, if the gap-up isn't sustained or if it opens with a gap-down, we can anticipate a similar range-bound market sentiment. Correction may occur if the market breaches the immediate support zone."
23rd Nov ’23 - BankNifty takes out a resistance today 🐂 soonBankNifty Analysis
BankNifty made some interesting strides today. After opening inline, it went to the resistance level of 43566 really quickly. By 10.00 we had a close above this level on the 5mts TF. I did update on the trading view minds that, I changed my stance from bearish to neutral because of this.
5mts chart link - click here
Even though we did not go much higher, BankNifty was able to retain the lead and hold the ground. The Final close was also above this level opening up opportunities for further up moves. Fundamentally I still don't know if the banks have priced in the CAR and risk weight increment news perfectly, but from a technical chart perspective - it seems like the bearishness is almost over.
1hr chart link - click here
BankNifty has a lot of ground to cover to get back at the bullish trend line. The first target would be to take out the 44063 resistance level and give some food for the bulls to charge. Over the last few sessions, I had a bearish view on the 17th & 20th, a neutral view on the 21st, and then a bearish view on the 22nd. Today I have changed the stance to neutral again. At present Nifty and BankNifty are in a neutral stance. Logically the directional bias has to be in sync for both Nifty and BankNifty, that's when the real magic happens. I am quite sure if BankNifty goes bullish tomorrow, Nifty will also get its stance changed.
22nd Nov ’23 BankNifty PostMortem - stance changed to bearish 🐻BankNifty Analysis
BankNifty was a total support and resistance play today. Unline Nifty, BankNifty did not retest yesterday’s swing high instead it started falling right from the open. We were at the 43566 support level till 10.20 after which it got broken. By 11.45 we broke the next support level at 43404 & that is when I changed my stance from neutral to bearish. I did update via the TradingView Minds on my stance change. TradingView minds is an excellent tool to inform everyone, if you are following me - you get an email instantly.
5mts chart link - click here
The best way to go short today was to sell the calls as it was expiry day. The only way your calls retain value is if BankNifty moved up. After BankNifty broke the 43404 support it went to the next support of 43253 and was rejected. The rejection took BN back above the 43404 level. Reiterating that there is no way Nifty can go up with BankNifty looking bearish.
1hr chart link - click here
BN is right at the 50% retracement from the recent run-up from 42105 to 44400. The 38.2% retracement level is at 43566 🙂, 61.8% retracement is at 43012. It is not quite usual that I get my support and resistance levels exactly in line with the Fibonacci retracement lines. My stance is currently bearish with the first target of 43012 and then 42576. In case we reverse course and go up, it has to take out 44063 before any bullish activity has to resume.
BANKNIFTY prediction for 22 Nov As we discussed yesterday Banknifty was sideways it has been forming ascending trangle if it breaks to downside it will be touching the 43430 level. on upside it has the 200 EMA resistance and price action resistance level at 43770.
Reasons:
PCR = 0.65, its expiry today mostly its sideways. but OI shows as Bearish.
200 EMA resistance to upside. (Bearish)
RSI 40-60 mostly Sideways. (sideways)
Price < 200 EMA (Bearish)
Very nice price action support (4H-tf) downside. (Bullish level)
43450 has huge PE Calling. (Bullish)
Verdict:
If breaks downside it will give nice Bearish target.
Plan of action:
Sell 43700 CE if breaks to downside buy 43600 PE
