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Bankniftytrend

#Banknifty directions and levels for September 6th. Current view: BankNifty shares the same sentiment due to its range-bound structure. If the market opens with a gap-down, we can expect an immediate target of 51303. After reaching this level, if it consolidates or breaks solidly, the correction may continue toward lower levels, with a minimum target of 51206, extending down to the 78% Fibonacci level. That means we can expect the correction or next move only if it breaks the immediate support level. This is our first scenario. Alternate view: Alternatively, if the initial market pullback is strong, or if it rejects around the immediate support level, the range-bound market may continue. If this happens, we can expect a bounce back of 61% to 78% in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 06.09.2024On Thursday, BankNifty opened with a gap up, reaching a high of 51636.75 and staying range-bound throughout the session, eventually closing with a 72-point gain at 51473.05. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near minor Demand/Support Zone (15m): 50984 - 51073 Far Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Resistance Levels: Near Supply/Resistance Zone (15m): 51665 - 51732 Far Supply/Resistance Zone (30m): 52103 - 52340 Far Supply/Resistance Zone (125m) for weekly trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY MATHEMATICAL LEVELSThese Levels are based on purely mathematical calculations. Validity of levels are upto expiry of current week. How to use these levels :- * Mark these levels on your chart. * Safe players Can use 15 min Time Frame * Risky Traders Can use 5 min. Time Frame * When Candle give Breakout / Breakdown to any level we have to enter with High/Low of that breaking candle. * Targets will be another level marked on chart * Stop Loss will be Low/High of that Breaking Candle. * Trail your SL with every candle. * Avoid Big Candles as SL will be high then. * This is one of the Best Risk Reward Setup. For Educational purpose only
NSE:BANKNIFTY
by YASHSINCE1995
BankNifty Intraday Support & Resistance Levels for 05.09.2024On Wednesday, BankNifty opened with a gap down, landing inside the 75m demand zone. It made a low of 51259.90 but managed a slight recovery by the end of the day, closing at 51400.25 (still within the 75m demand zone). The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains sideways. Currently, GIFT NIFTY is trading 90 points higher, suggesting a potential gap-up opening today. Support Levels: Near Demand/Support Zone (75m): 51240 - 51433 (current price inside the zone) Near Minor Demand/Support Zone (15m): 50984 - 51073 Far Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Resistance Levels: Near Supply/Resistance Zone (15m): 51665 - 51732 Far Supply/Resistance Zone (30m): 52103 - 52340 Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BankNifty Intraday Support & Resistance Levels for 04.09.2024On Tuesday, BankNifty opened flat, dipped to a low of 51240 but quickly recovered, closing near the day's high at 51750.10. I clearly mentioned in the previous posts that, "if BankNifty sustains above 51316, we might see a rally to 51750 and beyond," which is exactly what happened. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. With GIFT NIFTY trading 200 points lower, a gap-down opening is possible today. Support Levels: Near Demand/Support Zone (75m): 51240 - 51433 Near Minor Demand/Support Zone (15m): 50984 - 51073 Far Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Resistance Levels: Near Supply/Resistance Zone (30m): 52103 - 52340 Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
Banknifty weekly expiry analysis for 04/09/2024.Banknifty has been lagging behind and is still 1500-1700 points lower from its all time high. The market in the final hour has given a nice upside rally and closed above the round number levels and the resistance zone. An engulfing candle is formed on the daily charts and tomorrow is weekly expiry in the index. If there is a gap up opening there are chances of it giving a nice upside rally. In case of a flat to slight gap down opening, a slaggishness can be seen as the makret is behaving now a days. Major support levels :- 51550, 51310 Resistance zone :- 51880, 52000, 52150 Banknifty has taken a good support from the Hourly 20 ema and given good upside move. If the move continues a trade can be initiated above the resistance zones. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
BankNifty Intraday Support & Resistance Levels for 03.09.2024On Monday, BankNifty opened with a gap up, reaching an open-high of 51579.50 before closing at 51439.55. BankNifty is now above the 51316 level, which is the 61.8% FIBO retracement. If it sustains above this level, we might see a rally towards 51750 and beyond. The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains sideways. Support Levels: Near Minor Demand/Support Zone (15m): 50984 - 51073 Near Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Resistance Levels: Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Current price inside the zone) Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 3 Sep 2024BANKNIFTY Intraday Trade Setup For 3 Sep 2024 Bullish-Above 51600 Invalid-Below 51490 T- 52000+ Bearish-Below 51250 Invalid-Above 51360 T- 50735 BANKNIFTY has closed on a flat note once again with slight gain of 0.17% gain today. Index is just sideways with spikes. Till now index has not gained momentum. It is just momentum less. VIX needs to rise above 15 or else it will become hell for directional traders. 51600 and 51250 are intraday levels for tomorrow. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 51600 then we will long for the target of 52k+. For selling we need a 15 Min candle close below 51250. T- 50735. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BankNifty Intraday Support & Resistance Levels for 02.09.2024On Friday, BankNifty opened with a gap up, reaching a high of 51466.55 before closing at 51351. With BankNifty now above the 51316 level (61.8% FIBO retracement), sustained trading above this level could trigger a rally towards 51750 and beyond. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Minor Demand/Support Zone (15m): 50984 - 51073 Near Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Resistance Levels: Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Current price inside the zone) Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 2 Sep 2024BANKNIFTY Intraday Trade Setup For 2 Sep 2024 Bullish-Above 51470 Invalid-Below 51360 T- 51850 Bearish-Below 51250 Invalid-Above 51360 T- 50770 BANKNIFTY has closed on a slight bullish note with 0.82% gain today. After breakout of 50800 on 22 Aug , it was discussed that index is approaching 52k in the coming days. We have reached 51466 and rest can be gained this week. Overall index is volatile and sideways. Directional move with momentum is still void. 51470 and 51250 are intra levels for tomorrow. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 51470 then we will long for the target of 51850. For selling we need a 15 Min candle close below 51250. T- 50770. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
Nifty & Bank Nifty Analysis: Mixed Signals in the Final MinutesIn the last 30 minutes of yesterday's trading session, we saw a significant volume spurt in both NSE:NIFTY and NSE:BANKNIFTY , yet prices remained within a tight range. While NSE:NIFTY was trying to hold its ground with buyers stepping in, NSE:BANKNIFTY faced notable selling pressure. This divergence could be key in predicting tomorrow’s market movement. NSE:NIFTY managed to stay steady despite the volatility, suggesting that investors are cautiously optimistic about its prospects. The increase in volume without a substantial price change indicates a tug-of-war between bulls and bears. If NSE:NIFTY manages to break above its immediate resistance, we could see a bullish move. However, if it fails to maintain its support, a pullback could be on the cards. NSE:BANKNIFTY , however, showed visible selling in the final minutes, highlighting a lack of confidence in the banking sector. This selling pressure, coupled with the tight range, suggests that traders are uncertain about the near-term outlook. If NSE:BANKNIFTY breaks below its current support level, it could signal further downside risk. On the other hand, a recovery above resistance could reignite buying interest. What to Watch Tomorrow: With both indices ending the day in a tight range but showing different momentum, tomorrow's session could be pivotal. Watch for a breakout in NSE:NIFTY to confirm a bullish bias or a breakdown in NSE:BANKNIFTY to signal potential weakness. Global cues and overnight economic data will also play a crucial role in shaping market sentiment. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Market conditions are subject to change, and past performance is not indicative of future results. Always conduct your own research or consult with a professional before making any trading decisions.
NSE:BANKNIFTY
by Stable_Logic
Weekly Market Forecast: Nifty & Bank Nifty Set for Major Moves!Nifty and Bank Nifty are poised for a strong upside move if they break their respective resistance. Nifty Resistance : 25300 - 25500 , Above this should open doors for 25800-26200 levels soon!! If Nifty does not clear 25500 then it will be considered as double top pattern. Currently Nifty is also showing negative divergence in daily chart. Bank Nifty has given a trendline breakout, looking for a strong movement above its resistance zone 51400 -51700, above this it will try and test previous ATH levels. if fails then should see 50990-50500 levels again.
NSE:BANKNIFTYLong
by Nimble_Pesos
BankNifty Intraday Support & Resistance Levels for 30.08.2024On Thursday, BankNifty attempted for the third time this week to break above the 51316 level (61.8% FIBO Retracement). It reached a high of 51368.95 but failed to sustain and closed at 51152.75. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Resistance Levels: Near Resistance Level: 51316 (61.8% FIBO Retracement level) Near Supply/Resistance Zone (15m): 51303 - 51369 Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Already Tested) Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal