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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 PriteshPalan
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 PriteshPalan
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
#Banknifty Direction's and levels for July 30th.Bank Nifty: > As per the weekly analysis, we expect the rally to sustain at the 78% Fibonacci level, and if it does, the rally could continue further. However, yesterday the market sharply rejected the 78% level, indicating an alternate view. > According to this alternate view, we can initially expect a range market if today's market finds support around the immediate support level. If this happens, we can expect a minor pullback of 38% to 50%. This is our first variation. > The alternate variation indicates that if the correction shows aggression, we can expect the correction to continue with some minor consolidations.
NSE:BANKNIFTY
by Manickamtraders
4
BankNifty Intraday Support & Resistance Levels for 30.07.2024On Monday, BankNifty opened gap up and entered the major daily supply/resistance zone mentioned in the last post. It then fell almost 1200 points from the top due to selling pressure from the daily supply zone, closing at 51406.25 with just a 110-point gain. 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: Small Supply/Resistance Zone (5m): 52238 - 52315 Near Supply/Resistance Zone (15m): 51317 - 51462 Major Supply/Resistance Zone (Daily): 51874 - 52587
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Intraday Trade Setup For 30 Jul 2024BANKNIFTY Intraday Trade Setup For 30 Jul 2024 Sell_1- From 51905 Invalid-Above 52015 T- 51400 Sell_2-Below 51130 Invalid-Above 51240 T- 50380 BANKNIFTY has closed with a slight gain of 0.22% today. Closing sentiment is bearish as it closed near day low and formed a shooting star candle in daily TF. Sell off was brutal as in just 15-20 Min it was tanked 1100 points. So tomorrow we will maintain a bearish stance or sell on rise approach overall. 51900-51950 can be an intra resistance. Below 51130 index can slip 51600 zone. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes below 51130 then we will short for the target of 50380. 2nd sell positioned can be done from 51900-50 zone. T- 51400. 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
1
BankNifty levels - Jul 30, 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 29th.Bank Nifty: Bank Nifty also saw a strong pullback in the last trading session. If the gap-up sustains, then the pullback will likely continue. My expectation is that, as per the structure, we can't expect much of a retrace even if it rejects either of the resistance levels. This means that if the gap-up sustains, it will continue the rally with some little consolidation. This is our first variation. Alternatively, if the gap-up doesn't sustain or if it rejects either of the resistances sharply, we can expect a 61 to 78% correction in the minor swing, but it should break the 38% Fibonacci level. If it doesn't break it, then it will maintain the bullish bias.
NSE:BANKNIFTY
by Manickamtraders
6
BankNifty Intraday Support & Resistance Levels for 29.07.2024On Friday, BankNifty opened gap down but recovered over 950 points from the bottom, closing near the 15m supply zone mentioned in the last post at 51295.95. 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 Major Demand/Support Zone (Weekly): 49530 - 50253 Resistance Levels: Near Supply/Resistance Zone (15m): 51317 - 51462 (already tested on Friday) Major Supply/Resistance Zone (Daily): 51874 - 52587
NSE:BANKNIFTY
by PriteshPalan
#Banknifty August 1st week directions and levels.Bank Nifty Bank Nifty's structure is a bit different from Nifty. It hasn’t pulled back as much, but the trend is still positive. Bank Nifty is currently in the 5th wave, indicating a bullish move. However, since the 5th wave is usually slower, we expect a less aggressive rally, possibly at a 40 to 50-degree angle. We’re targeting 52,674 for this rally. This is our main view. Alternatively, if the market faces resistance at the 50 or 61% levels, it may correct further. Initially, the market might move within a range, and a break of this range could lead to more correction.
NSE:BANKNIFTY
by Manickamtraders
7
BankNifty levels - Jul 29, 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