BankNifty has shown a solid breakout after the triangle structure. According to wave analysis, the triangle could be the 4th wave, and the breakout pullback could be the 5th wave, which is also a distribution wave. However, there are two subwaves pending, so if the market sustains the gap-up, we can expect a pullback rally with minor consolidation around the...
As we discussed, BANKNIFTY could not break the zone to the downside; instead, after a heavy bearish candle, it ended strong bullish with huge volatility. If we look at the chart now: The market took support at 50 EMA and gave a great bullish momentum. The market seems bullish right now. The market is moving in an uptrending channel right now. One can make...
The Bank Nifty structure looks like an ascending triangle, meaning the 4th correctional wave. If the market breaks the previous high, then we can expect the 5th impulse (rally). The minimum we can expect is 50347. If the market breaks or consolidates, then the rally will likely continue. Alternatively, if the market doesn’t sustain the gap-up or if it rejects...
🚀 Nifty Bank Index Update 🚀 Current Price: 50,479.30 Key Highlights: Price broke above key resistance level 📈 Trading well above the 20 EMA (50,326.89), maintaining a bullish trend 📊 MACD confirms bullish momentum 💹 Next target: 50,953.75 📌 Stay tuned for more updates! 🔍 #NiftyBank #StockMarket #Trading #Investing #MarketUpdate
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of s1 Sell - with the rejection of s1 Major Support - Around 497## Major Resistance - Around 502## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – ...
For the second consecutive day, BankNifty closed above the psychological level of 50,000. The weekly trend (50 SMA) is positive, and the daily trend is sideways. Intraday Support Levels: Near Support/Demand Zone (15m): 50,339 - 50,403 Far Small Support/Demand Zone (15m): 50,186 - 50,266 Far Support/Demand Zone (15m): 49,693 - 49,779 Intraday Resistance...
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
BankNifty closed at the psychological level of 50,000 after testing the near-demand zone mentioned in the previous post. The weekly trend (50 SMA) is positive, while the daily trend is sideways. Support Levels: Near Support/Demand Zone (15m): 49,693 - 49,778 Far Small Support/Demand Zone (15m): 49,225 - 49,451 Far Support Zone (15m): 48,801 - 49,055 (tested...
As we discussed in the morning, BANKNIFTY ended up sideways. If we look at the chart now: The market is indecisive, as neither bulls nor bears are able to move the market in a direction. The market is taking support at 50 EMA(15 min TF). If it breaks to the downside, we might get a good bearish fall til 200 EMA. Support levels: 49929, 49704, and...
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
Nifty & Bank Nifty have been trading in a sideways to consolidation mode for the past few sessions Bank Nifty chart indicates theat it may get support arund 49500 zone. On the upside key resistance is placed at 50300 & 50500 level Wait for price to break the Range & track for opportunities in that direction
As we discussed yesterday, BankNifty spent on an up-trending channel and ended sideways. If we look at the chart now: The market is in the channel right now. If it breaks down to the downside, it will give a nice bearish momentum. Support levels: 49778, 49255, and 49052 resistance levels: 50102 and 50202 If we look at the OI data: PCR = 0.74, which...
BankNifty opened with a gap-up at 50,179 yesterday, landing inside the 15m supply zone (50,129 - 50,227) mentioned previously. This caused selling pressure, leading to a close at almost the day's low of 49,846.70. The weekly trend (50 SMA) remains positive, while the daily trend is sideways. Support Levels: Near Support/Demand Zone (15m Tested): 49,728 - 49,860...
BankNifty Stance Bullish ⬆️ The stance of banknifty is still bullish, but the pattern is not like Nifty50. Banks are a bit weaker than Nifty. If you notice today, Nifty50 hits its intraday low around 11.20 whereas BN hit it around 15.00. Till 11.20 both N50 and BN were moving alike after which BN did not recover but kept melting down slowly. Still, we ended the...
Hello Traders, Welcome to SriTrader5121 ______________________________________ Overall view for the day Buy - with the support of PDL Sell - with the rejection of PDL Major Support - Around 495## Major Resistance - Around 525## See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – ...
Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction...
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