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Bankniftyview

Banknifty is at a key support level—will it rebound? In recent months, the bank index has been on a remarkable upward trajectory, consistently achieving higher highs and higher lows. After reaching an all-time peak close to 53,350 (specifically at 50,358), the bank index experienced a correction. At present, the index is hovering around a significant support level of 49,750, which also aligns with the trendline support visible on the chart. There is a strong expectation that the bank index will bounce back from this point and resume its upward trend. However, if this support is broken, the next level to watch will be around 46,000 to 46,300. To regain its bullish momentum, the index must overcome the immediate resistance located between 53,000 and 53,350.
NSE:BANKNIFTY
by GoodluckCapital
BankNifty levels - Aug 07, 2024Utilizing 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 levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
BankNifty Intraday Support & Resistance Levels for 06.08.2024On Monday, BankNifty dropped to 49719 (day low) and entered the Weekly Demand/Support Zone mentioned in the last post. Weekly zones are considered strong, and if the low is not broken, we might see a bounce from the Weekly Demand Zone. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) has now turned negative. Support Levels: Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (75m): 51367 - 51609
NSE:BANKNIFTY
by PriteshPal
#Banknifty directions and levels for the August 2nd week.Bank Nifty: Current View: Structurally, it's a range market, because whenever the market enters into double and triple corrections, it forms huge ups and downs within the range. It's very difficult to predict the proper direction. However, my expectation is the same as for Nifty. Let's look at that. - If Monday's market opens negatively, it could find support around the 51020 level or the 78% Fibonacci retracement. - If this happens, we can expect a 23% to 38% pullback in the minor swing. It's a minor pullback only. - after that, if it is rejected there(23 or 38% in the minor swing), then the correction will continue if it breaks the previous low again. This is our first variation. Alternate View: - If the initial bounce breaks the Fibonacci level of 38% in the minor swing, it could reach the next target of 61% and 78%. These are usual range market targets. - After that it faces rejection there (around 61% or 78%), then the range market will likely continue. - However, we could use the same reversal confirmations here as well(.EMA 20 and the Fibonacci level of 38% breakout) - Alternatively, if it sustains or breaks the level of 78% on the upside, then the pullback will likely continue to the level of 52526 and 52694.
NSE:BANKNIFTY
by Manickamtraders
BankNifty levels - Aug 06, 2024Utilizing 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 levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
#Banknifty directions and levels for August 5th.If the gap-down sustains (consolidates) or breaks the immediate support level with a solid candle, then the correction will likely continue further. This is our basic structure. Why Do I Mention the Pullback Levels of 23% and 38%? In this scenario, if the market takes a solid pullback in the initial phase, it could reach those levels. Usually, the trending market could take a maximum 23% to 38% pullback of the minor swing. but it won't sustain. If it rejects there, then the trend will continue once it breaks the previous bottom. That's why I mention those levels. What Should We Do If It Breaks the 38% Fibonacci Level? Whenever the trending market takes a pullback of more than 38%, the momentum will reduce a little bit. If this happens, we can expect some consolidation into a range market. and The range market targets are expected to be a minimum of 50%, 61%, and 78%. If you are an options buyer, the premium might not increase in this sentiment, so trade carefully.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 05.08.2024On Friday, BankNifty opened gap down, made a low of 51087.85, and bounced 500 points from the bottom before closing at 51350.15 (213 points negative). The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 51023 - 51082 Near Demand/Support Zone (30m): 50851 - 50951 Near Demand/Support Zone (75m) for weekly trade: 50707 - 50960 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (30m): 52103 - 52340 Far Supply/Resistance Zone (30m): 52559 - 52783 Major Supply/Resistance Zone (75m): 52880 - 53188
NSE:BANKNIFTY
by PriteshPal
BankNifty levels - Aug 05, 2024Utilizing 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 levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
BankNifty levels - Aug 02, 2024Utilizing 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 levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
#Banknifty directions and levels for August 1stBankNifty BankNifty is still within a range. Both current and alternate views indicate a range market structure. Here’s the breakdown: Current view: If the gap-up sustains, we can expect a move to the 51825 level. If it breaks or consolidates, the pullback will likely continue to the swing high or channel top. If it doesn’t break the 51825 level, it will continue to range. Alternate view: If the market rejects or the gap-up doesn’t sustain, it will continue to range between 51825 (upside) and 51275 (downside). If it breaks the range in either direction, we can follow that trend.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 01.08.2024On Wednesday, BankNifty remained within the previous day's range, not crossing the high or low of Tuesday, and closed at 51553.40. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is sideways. The support and resistance levels remain the same as mentioned in the last post: Support Levels: Near Demand/Support Zone (15m): 51023 - 51082 Near Demand/Support Zone (30m): 50851 - 51951 Near Demand/Support Zone (75m) for weekly trade: 50707 - 59960 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (30m): 51793 - 51923 Small Supply/Resistance Zone (5m): 52238 - 52315 Major Supply/Resistance Zone (75m): 52880 - 53188
NSE:BANKNIFTY
by PriteshPal
BankNifty levels - Aug 01, 2024Utilizing 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 levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
#Banknifty directions and levels for July 31st.BankNifty: Current View: BankNifty's current view also indicates a range market. Usually, range market trading seems easy, but practically it's very difficult. If you want to enter a long position, you should wait for a breakout at the level of 51607. If it breaks, we can expect 51836 to the Fibonacci level of 78%, meaning the market will continue the channel pattern. Alternate View: The alternate view suggests that if the market breaks the channel bottom, we can expect a correction to the level of 51087. Structurally, this is a minor support. If it consolidates around there, we can expect the correction to continue if it breaks. On the other hand, if it rejects sharply, we can expect a 38% to 61% pullback in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 31.07.2024On Tuesday, BankNifty remained within the range of the previous day, not crossing the high or low of Monday, and closed at 51499.30. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is sideways. The support and resistance levels remain the same as mentioned in the last post: Support Levels: Near Demand/Support Zone (15m): 51023 - 51082 Near Demand/Support Zone (30m): 50851 - 51951 Near Demand/Support Zone (75m) for weekly trade: 50707 - 59960 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Small Supply/Resistance Zone (5m): 52238 - 52315 Near Supply/Resistance Zone (15m): 51317 - 51462 Major Supply/Resistance Zone (Daily): 51874 - 52587
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY Intraday Trade Setup For 31 Jul 2024BANKNIFTY Intraday Trade Setup For 31 Jul 2024 Bullish-Above 52000 Invalid-Below 51890 T- 52511 Bearish-Below 51130 Invalid-Above 51240 T- 50380 BANKNIFTY has closed almost on a flat note with slight gain of 0.18% today. Yesterday a pullback scenario was discussed for a short position as said we are going into sell on rise mode. Sell triggered as per trade setup @ 51900-50 and fell till 51400 which was our target. It has formed an inside candle in daily TF which is a potential compression in coming sessions. 52k and 51130 are intraday levels for tomorrow. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 52k then we will long for the target of 52511. For selling we need a 15 Min candle close below 51130. T- 50380. 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 levels - Jul 31, 2024Utilizing 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 levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located at the bottom right. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe