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Bankniftytrendanalysis

BANKNIFTY READY FOR TREND REVERSAL AGAIN..??We’ve been achieving 100 percent accuracy in the analysis as of now! From the last analysis done in BANKNIFTY and NIFTY both I’ve warned you guys about the trend reversal and the same happened BANKNIFTY fell from 35800 till 34600 levels! Over 1000++ points fell from the given levels NOW BANKNIFTY IS TRADING AT REAL CRUCIAL LEVELS AS IT IS TRADING IS PREVIOUSLY SUPPORT WHICH HAS NOW BECOME A RESISTANCE which 35200-35000! One must keep watch of this resistance ! We can see again 1000++ points rally ahead If all parameters meet ✅
NSE:BANKNIFTY
by Wealthcam
#BANKNIFTY - Complete 5 - 3 Elliot WaveWhat is Elliott Wave ? Elliott Wave theory is one of the most acknowledged and widely used forms of technical analysis. RN Elliott developed the theory after analyzing nearly 75 years of stock data, and Robert Prechter later popularized it. According to the Wave theory, the market trades in repetitive cycles, which Elliot primarily attributed to the emotions of investors (or the psychology of the masses at the time) as well as outside influences. Why it is appealing? The Elliot Wave theory proves that the upward and downward price swings caused by the collective psychology always reflect the same repetitive patterns. Elliot observed that all financial markets move in a zigzag formation, which he termed Wave cycles. With this theory, Elliot was able to analyze markets in greater depth by identifying the specific characteristics of wave patterns and was able to make detailed market predictions based on these patterns. This is what makes the Elliott Wave theory so appealing to traders as it provides them with a method to spot precise price points where the market is likely to reverse. In simpler words, Elliott came up with a system that enables traders to catch tops and bottoms. Basic Principals of the Theory The Elliott Wave theory states that the market is fractal in nature i.e. it forms the same patterns that are observed on larger degree charts on smaller timeframe as well, and that it can be used to predict future price movement. The theory states that it does not depend on the timeframe one analyzes as a similar price pattern is observed across all time frames. The theory claims that that market action among the participants produces wave patterns and trends, defined by Elliott as the physical sign of mass psychology. The complete cycle of the Elliot Wave development consists of eight waves that make up two phases: An impulse wave sub-divided into five waves and, A corrective wave sub-divided into three waves Price movement According to the theory, price movement in the direction of the main trend is defined as the impulse or motive phase, which unfolds in five waves. Three of those waves (1, 3, and 5) move in the direction of the underlying trend, while the two intervening waves (2 and 4) act as counter-trends or minor retracements within the phase. Wave 5’s up move is followed by a correction 3, which traders usually label as A, B, and C. The 5-3 wave pattern can be seen across all timeframes. The corrective phase consists of two waves (A and C) that move in the opposite direction of the motive phase, and an intervening retracement wave (B) that moves in the same direction of the motive phase. The 5-3 wave pattern establishes a complete Elliot wave cycle. The theory tends to get more complicated as more degrees of waves get added. The key to using the Elliot wave successfully lies in counting the waves correctly and identifying the wave in which the market is currently trading in. Rules of Elliot Wave Theory There are three main rules to the Elliot Wave theory that analysts must know. These rules apply only to the impulse phase First rule: Wave 2 cannot retrace more than 100% of Wave 1 i.e Low of wave 2 must not touch or break wave 1's Low. Second rule: Wave 3 cannot be the shortest among waves 1, 3, and 5 Third rule: Waves 1 and Wave 4 must not overlap i.e Wave 4's bottom must not break the high of wave 1. Guidelines There are numerous guidelines to this theory, but we will take a look at the most prominent ones. Unlike the three cardinal rules, these guidelines can be broken. They are: Guideline 1: When Wave 3 is the longest impulse wave, Wave 5 will approximately equal Wave 1 as shown in the figure above by highlighting about 8000pts. Guideline 2: The forms for Wave 2 and Wave 4 will alternate. If Wave 2 is a sharp correction, then Wave 4 will be a flat correction . If Wave 2 is flat, then Wave 4 will be sharp . Guideline 3: Sometimes, Wave 5 does not move beyond the end of Wave 3. This is known as truncation. Guideline 4: After a 5-wave impulse advance, corrections (a-b-c) usually end in the area of prior Wave 4 low i.e may be near 30000 Guideline 5: Wave 3 tends to be very long, sharp , and extended. Guideline 6: Waves 2 and 4 frequently bounce off Fibonacci retracement levels.
NSE:BANKNIFTY
by kiranrshinde
21
BANKNIFTY IN RISING WEDGE PATTERN ( CAUTION )BANKNIFTY at real crucial levels, though the trend is bullish as of now , it has been forming RISING WEDGE pattern which is also known as REVERSAL pattern to some extent but don’t worry! We’ll wait for its confirmation before we take any action☑️ Till now market specifically is bullish and also formed an inverted head and shoulders pattern being 35730 as its NECKLINE, break of that very level with proper candle close may take BANKNIFTY to 36000 in no time Also RBI MONETARY POLICY HEARING tomorrow can add fuel to the fire ! Expecting huge moves tomrrow But also keep note of the following pattern ✅
NSE:BANKNIFTY
by Wealthcam
BanNifty Analysis Intraday Levels 4 JuneHello Traders, Hope you all are fit and fine ... Stay Safe and Trade safe...! As predicted yesterday, BnkNifty Opened Gap Down ... Today...😎 Resistance Level : 1. Strongest Resistance exists at 35700. 2. Next Strong Resistance at 35800. 3. Stronger Resistance at 36000. 4. Good Resistance has been developing at levels from 35700 to 35800. Support Level : 1. 35600 has become Strong Support Level . 2. Strong Support at 35500 Level. 3. Good Support Zone from 35300 and 35400. SideWays Possibility : More Chances of Sideways market between the Range 35500 to 35800 / No Trade Zone TrendLine : Buy above Green Trend Line and above 35800 levels This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market. I hope you all like my analysis. Please do share your thoughts into comment section. Please hit the Follow button to get the regular analysis. Please give a like, it motivates me to do analysis and do share with your friends as well.
NSE:BANKNIFTY
by kiranrshinde
1
BANKNIFTY CHART ANALYSED ( expiry special ) Do not short unless it breaks 35000 mark which is both a psychological anda logical level! As you can see in the last hour it did broke above as you can see the trendline break and also a consolidation breakout that means bear are very active at current levels which could also lead to possible gap up opening tomorrow ✅ No bears would be invited unless it breaches 35000 mark and If it breaches that 35000 mark we can see some Sharp selling So key SUPPORT to look at is 35000 level R1 being 35560-35600 Must watchout these levels before making any new position☑️
NSE:BANKNIFTY
by Wealthcam
BanKNifty Expiry Special IntraDay LevelHello Traders, Hope you all are fit and fine ... Stay Safe and Trade safe...! As predicted yesterday, BnkNifty Opened Gap Down ... Today...😎 Resistance Level : 1. Strongest Resistance exists at 35500. 2. Next Strong Resistance at 35800. 3. Stronger Resistance at 36000. 4. Good Resistance has developing at levels from 35500 to 35800. Support Level : 1. 35000 has become Strong Support Level . 2. Good Support Below is 34500 Level. 3. Good Support Zone between 35100 and 35300. SideWays Possibility : More Chances of Sideways market at for the first half, Between the Range 35500 to 35000. TrendLine : Sell below green trend line and at levels of 35500 when you see reversal from this level. *Note : Try to Trade in Second Half, so that the picture would be more clear ...on buying and selling side. It's an Expiry Day ... trade keeping in mind that Option Premium decays more than usual day. This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market. I hope you all like my analysis. Please do share your thoughts into comment section. Please hit the Follow button to get the regular analysis. Please give a like, it motivates me to do analysis and do share with your friends as well.
NSE:BANKNIFTY
by kiranrshinde
3
nifty bank long bullish (banknifty)nifty bank is ready to shoot up for moving ahead next target which is 36000-36600 (1000-1600) point upmove we can see in next two - three trading session. 1.Nifty bank breaking the resistance of 35000 and immedaiate resistance is 35200 which will break soon. 2. Nifty bank is overall uptrend. 3. Looking the opportunity for long with the sl 34830 entry around 35000-35020. 4. 15min. time frame made bullish engulfing and doji candlestick pattern, which is indicating nifty bank bullish. 5. 1 hr timeframe downtrend channel breakout done. (sharing view not recommandation) Thanks and regards Chazz sen +917000725404
NSE:BANKNIFTYLong
by chazzsen
BankNifty Day View 21/05/2021Hello Everyone, Hope you all are fit and fine ... Stay Safe and Trade safe...! As predicted in Imp section Gap Filling was Done. BankNifty to Open Gap UP .... Tomorrow... 150-200 pts. Resistance Level : 1. 34000 to 34500 is next level of Resistance developing. 2. 34000 is strongest Resistance level . 3. Small resistance exists till 33500 and later at 33800. Support Level : 1. 33200 to 33300 is next Support level . 2. 33300 is Strong Support level . Sideways Possibility : Less chances of sideways market. Trend Line : Buy Above 33550 and above Trend Line Sell below 33000 and below trend line . Will try to post in detail analysis in 15 min chart ..later..if possible. I hope you all like my analysis. Please do share your thoughts into comment section. Please hit the Follow button to get the regular analysis. Please give a like, it motivates me to do analysis and do share with your friends as well.
NSE:BANKNIFTY
by kiranrshinde
Banknifty 10/05/2021Hello Everyone, Hope you all are fit and fine ... Stay Safe and Trade safe...! As per my analysis, BNKNIFTY will Open GAP DOWN with 100-150 pts. Resistance Level : 1. We already have an Existing Resistance level from 32950 to 32900 since start of this week and market has closed below this level, so the chances of Gap-Down Opening are to high. 2. 33000 is next level of Resistance. 3. 33200 to 33300 is next level of Resistance, of which 33200 is another strong level. Support Level : 1. 32700 to 32800 is becoming good/decent support level. In todays trading session you might have seen the reversal from 33800 level. 2. 32500 is next strong Support level. Trend Line : There was a sharp fall on Tuesday, where it took support at around 32250 to 32300 level. Since then BnkNifty is taking Support of this trend line. But today this Support was Broken with high volume, BnkNifty tried to Reverse but could not as it was facing an Existing Resistance Level. So think of buying only if BnkNifty breaks above Trend Line and Resistance Level. More of go on Selling side .. if Decent Support Level is broken then a good Downward Rally is expected. I hope you all like my analysis. Please do share your thoughts into comment section. Please like and share with your friends as well.
NSE:BANKNIFTYShort
by kiranrshinde
BankNifty 7/5/2021Hello Everyone, Hope you all are fine and Safe ..! BnkNifty to open Gap Up 100 pts considering last few min buying. Resistance Level - 32900 and 33000 are strong resistance leve. Since last 2 days BnkNifty is not able to cross this level. So try to avoid first 15 min trade and if you see a reversal from above level you can go for Short till 32750 to 32800. If this level i.e 32700 is broken then next Support level is 32450 and 32500. Below 32400 .. a good downward rally till 32000 can be seen. Support Level - 32750 and 32800 are becoming good support zone. So, if planning to go long/buying side wait for first 15-30 mins, Let the Resistance level of 33000 breake with large volume and Buy above 33050. Above 33050, Upward rally till 33250 and 33400 can be seen. I hope you all like my analysis. Please do share your thoughts into comment section. Please like and share.
NSE:BANKNIFTYShort
by kiranrshinde