Banknifty Live Intraday updates for 3-11-2023 !BankNifty important levels to watch are as follows
#Support: 43210
Sell below: 43210 only on 15 minute candle closure below the level.
Target 1: 43000
Target 2: 42860
#Resistance: 43350
Buy Above: 43350 only on 15 minute candle closure Above the level.
Target 1: 43450
Target 2: 43600-43615
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
Bankniftytrend
#Banknifty direction and levels for NOV 3"Good morning, friends! As of November 3, the global market sentiment is bullish, as indicated by the Dow Jones. Our local market is also showing a moderate bullish trend. It may open with a long gap-down start because the gift nifty indicates 100+. If it opens with a long gap-up, we can expect a rally continuation when it sustains. On the other hand, if it doesn't sustain after the gap-up and undergoes a minimum 38% Fibonacci correction, we should consider this as a corrective change."
Bank Nifty Simple Analysis- Looks like buyers are coming in bulls above 43300 - 43350
- As per trend it shows downward move has been denied by buyers and todays gap up opening comirms buyers trying to pull back up.
- May be a gap up opening can be there which may triggers buyers
- Sellers below 42800 till 42600 but beware of traps here
- Support also at 42600 and resistance at 43230
Note : Do your own analysis before making in trade or invesments
2nd Nov ’23 - BankNifty had a falling window @ 11.40 5mts candleBankNifty Analysis
BankNifty had a unique day today, firstly a gap up open and a total swing of +536pts ~ 1.25% with respect to yesterday’s close. We were not able to take out the 43253 resistance and its rejection resulted in a deep fall of 475pts ~ 1.1%. Cant believe we even had a falling window candle stick pattern between 11.40 & 11.45.
Seeing the fall, I was quite confident that the gap would be closed and soon we would take out the support level of 42576. Another day has gone worthless for the PUT options. I am still not sure how BankNifty stopped falling right at 11.50. For me, the red candle at 11.40 came right at the support level of 43012 and the break should have resulted in further momentum.
In any case, BankNifty climbed back to the SR level and closed just above 43012 to give the illusion of bullishness to the market participants. I am still not convinced entirely, but seeing the global markets overflowing with euphoria - seems like we will take out 2 resistances tomorrow.
The levels to watch out for are 43253 and 43404 on the upside and 43012 and 42576 on the downside.
Banknifty Live Intraday Updates 02-11-2023 !Banknifty important levels to watch are as follows
#Support: 42990
Sell below: 42990 only on 15 minute candle closure below the level.
Target 1: 42850
Target 2: 42670
#Resistance: 43200
Buy Above: 43200 only on 15 minute candle closure Above the level.
Target 1: 43325
Target 2: 43450
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
#Banknifty direction and levels for NOV 2"Good morning, friends! As of November 2, the global market sentiment is bullish, as indicated by the Dow Jones. Our local market is also showing a moderate bearish trend. It may open with a long gap-down start because the Giftnifty indicates 150+. If it opens with a long gap-up, we can expect a rally continuation when it sustains (it should break the minor 78%). On the other hand, after the gap-up, if the market rejects around the minor levels of 61 or 78%, then we can expect a range market correction."
BANK NIFTY FUT | 02 NOV 23AS WE CAN SEE THAT BANKNIFTY IS COMPLETELY RANGE BOUND TODAY,
REMEMBER ONE SHOULD FOLLOW THE TREND BUT SHOULDN'T GET BIAS WITH THE DIRECTION.
ADDING MY ANALYSIS LEVELS FOR 2 NOV,23 BELOW FOR NIFTY FUTURES:
LONG PLAN >>>>> 🐂
- 43044 (I WILL WAIT FOR THE 5 MIN CANDLE TO CLOSE ABOVE THIS LEVEL)
- R1: 43144
- R2: 43244
- R3: 43366
SHORT PLAN >>>>> 🐻
- 42855 (I WILL WAIT FOR THE 5 MIN CANDLE TO CLOSE BELOW THIS LEVEL)
- S1: 42733
- S2: 42633
- S3: 42511
PLEASE FOLLOW FOR MORE REGULAR UPDATES.
QUOTE FOR THE DAY :
“The market is a device for transferring money from the impatient to the patient”
– Warren Buffett
📌📌📌📌📌
Disclaimer -
I am not SEBI Registered Research Analyst or Investment Advisor.
All Information provided above are just for Education purpose only .
They are not buy/Sell Recommendations .
Please consult your financial Advisor before taking any trade or investments.
1st Nov ’23 Perfect day for 9:20 straddlers BankNifty PostMortemBankNifty Weekly Expiry Analysis
Between the last expiry and today, BankNifty has managed to climb 432pts ~ 1.02%. It has also managed to trade above the support/resistance of 42576. This retracement could be seen as a lower-high formation for continued selling pressure. For proof, we would need to see the 42576 getting knocked out in the upcoming sessions.
BankNifty Today Analysis
Unexpected, but Banknifty had a perfectly neutral price action today. Most of the trades were carried out between 42770 & 42643 today i.e. a swing range of 127pts. I can say with 70% confidence that the major reason Nifty50 did not take out its support was due to lack of participation from BankNifty today.
BN only fell 0.34% today vs Nifty which fell 0.47%. BankNifty had a gap down open and its close was almost at the same level. There were 2 attempts to fall, the best one was between 12.30 to 13.15 - but the support of 42576 was respected.
Being the expiry today - a flattish BankNifty would have filled the pocket of the straddlers. It is not that common to get textbook-like straddle conditions. My personal trades in BankNifty did not last long as the premiums were dropping pretty quickly. I switched back to Nifty50 when its OTM had juice left. Also, remember - when the index is perfectly flat with no volatility - the OTM premiums will be pretty low.
I have highlighted the support/resistance points that are crowded around the spot in blue color. Till 42576 is not broken, I cannot go bearish. Not just that, it has to take out the swing low of 42105 on the same day 42576 is taken out - just to ensure that the momentum is good enough.
Nifty weekly expiry for 02/11/23.Nifty has formed a red candle on the daily charts and is trading between both the moving averages.
It is showing a bearish trend on smaller time frame, also forming a fall wedge pattern. If the market starts trading below 18900, there will be a huge sell off as the low will be cleared and support will be around 18720.
On the hourly charts, the market has been trading below the moving averages which signify some negativity.
Support :- 18870, 18720
Resistance :- 19250, 19400
Tomorrow is weekly expiry for nifty and today it has fall 90 points on day to day close.
Watch if the market open flat to negative and starts trading above the resistance of wedge. The pattern will work in the bullish side more effectively.
Wait for the price action near the levels before entering the market.
Banknifty Live Intraday updates for 1-11-23 !BankNifty important levels to watch are as follows
#Support: 42670
Sell below: 42670 only on 15 minute candle closure below the level.
Target 1: 42510
Target 2: 42300
#Resistance: 42815
Buy Above: 42815 only on 15 minute candle closure Above the level.
Target 1: 42920
Target 2: 43020
=> # Remember each level will act as a support and resistance individually so there is a probability of reversal and a pullback on either side so its better to make an habit to book profits at each targets and re-enter again after a breakout from the same with a proper stoploss as per your own risk appetite.
=> # Please do your own research before initiating any trade. Always use stoploss in order to protect your capital.
=> #If you are Unable to trade properly and dissatisfied with your manual trading results due to psychological disadvantages or busy schedule or "Fear & Greed" emotions, then Algorithmic trading can be the most useful solution to overcome such problems. Kindly follow us and join us using details mentioned below the idea.
=> # Please refer our swing based support and resistance indicator if you find it useful give it a like.
=> # Follow us for more such information and educational ideas and Indicators. Give it a like if you appreciate the idea. Queries will be answered in comment section.
#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.
Expiry Special Bank Nifty Analysis || Hero & Zero Trade DayGood Morning Guy's..
Guy's Bank nifty have formed a long bearish belt hold candlestick pattern on the daily scale as it failed to hold on to the 43000 levels and corrected 193 points to end at 42846. Bank nifty lost more than 300 points from the day's high. Bank nifty has experienced a trading session where it opened and hit it's high at the same level, signalling a strong bearish presence in the market. The confirmed upside resistance for the index is now at 43500, and until there is a closing breakthrough beyond this level, the overall trend remains negative. On the downside the index has support zone at 42400 and a breach below this level may intensify more selling pressure, potentially driving the index towards the 41500-41000 range.
Important Levels for Bank Nifty:-
Intraday support zone 42400
Intraday resistance zone 43000
Strong Support Zone 42000
Strong Resistance Zone 43500
Buy above 43038, if levels sustains at least for 30 Mints.
Targets will be in upside 43276/43497
keep stop loss at 42695
Sale below 42695, if leves sustains at least for 30 Mints.
Targets will be in downside 42405/42130
Keep stop loss at 43038
Note:- Hero Zero Trade will be in 2nd half somewhere 1:15pm. So, we will update in afternoon according to price action, so stick with us and follow us to get notity at right time. Till then enjoy but don't overtrade and Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
#Banknifty direction and levels for NOV 1st"Good morning, friends! As of November 1st, there is no significant difference between the last session, and the global market sentiment is moderately bullish, as indicated by the Dow Jones. Our local market is also showing a moderate bullish trend. It may open with a neutral to slightly gap-down start. There is a 5th correctional wave, so if the gap-down sustains, we can expect correction continuation. On the other hand, if a pullback occurs followed by a gap-down, we can anticipate a range market between yesterday's high and the Fibonacci level of 61%."
FASP levels for Bank Nifty 01/11/2023The FASP for BankNifty is listed for 01-11-2023. 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.
31st Oct ’23 - BankNifty stuck between support & resistanceBankNifty Analysis
Further clues for Nifty50’s movement might be hidden in BankNifty’s price action. Unlike Nifty, BankNifty has crowded support & resistance lines nearby that may impact the trend movement. The only way out is to come up with a big RED or GREEN candle break the support/resistance and ensure the momentum picks up.
The open (43264) was around the resistance level of 43253. We had a rejection in the opening candle itself. The first pause was at the support level of 43012 which was hit by 09.30. From 09.30 to 11.35, Banknifty was stuck in this zone.
At 11.40, I thought the 2nd leg of the down move may be building up - but it was a false flag. BankNifty managed to crawl back to the resistance of 43012 by 13.05. It spent the next 1hr 45mts in this SR zone.
Interestingly the price action from 14.50 to 15.00 (3 candles) was very interesting. I still think the clue for the next big move is hidden in this. Why do you think we had that move otherwise?
We are exactly at the same level as of 27th October. For the last 3 days, I have maintained the neutral call and somehow the markets are kind of obliging. If 42576 gets broken tomorrow, I will be highly excited to look for shorting opportunities. Since it is the weekly expiry tomorrow, I hope we can get some deep price movements.
Banknifty analysis for Ist Novemeber 2023 for educational purposBanknifty analysis for Ist Novemeber 2023 for educational purpose
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor. It is advisable to take the advice of SEBI registered advisor.
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#Banknifty directions and levels for oct31"Good morning, friends! As of October 31st, the global market sentiment is moderately bullish, as indicated by the Dow Jones. Our local market is also showing a moderate bullish trend. It may open with a neutral to slightly gap-down start. After that, if a pullback occurs, we can anticipate a continuation of the pullback. On the other hand, there is a sub-wave 4th in progress, so if it undergoes a correction, we can complete it and expect a 5th correction. However, it should break the Fibonacci level of 38%. If it does break the 38% level, we can consider this as the 5th correction (5th in a 5-sub-wave structure)."