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Banknifty Prediction for tomorrow 20 May 24As we discussed Banknifty sideways or Bullish; it ended-up sideways with high volatility on upper side. If we look at the chart: The market is trading at support (Price action + 200 EMA support) right now. the important levels for tomorrow are 200 EMA, 48000, 47400 will be working as very good support. while 48445, and 49125 will be working as nice resistance. If we look at OI data: PCR = 0.98 shows bullish structure. if we notice most of the time today there was only position wind off. 48200 seems to be working as max-pain. while major shpport zone is 48000. on the higher side 48500 is going to provide a heavy resistance. As market is in breakout phase I am expecting market yet to go higher. Reasons: RSI crossing 60 to upside that might be a starting of new bullish trend. Price > EMA (13, 200), which shows the market can take support at 200 EMA and go bullish. PCR = 0.98 shows a bullish sign. Price > VWAP means bulls are getting strength. The market has already given a breakout it was a good accumulation today; soon, it will shoot to the upside soon. unless there is some political news effect. Verdict: Sideways or Bullish Plan of action: Sell 48000 PE and 48400CE (Hedge with 20/- Premium)
NSE:BANKNIFTYLong
by finnova_
BankNifty levels - May 21, 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
16 May 2024 - BankNifty goes bullish, strong intraday rallyBankNifty Analysis — Stance Bullish ⬆️ The stance on BN also revised to bullish not because we took out the resistance, but due to the 707pts ~ 1.5% intraday rally that came right from the support level. Usually, powerful moves like this will have extended legs that could start appearing in days to follow. We only need to know whether the move came out from a news event or not because if it did, then no amount of technical analysis can codify it. BN has also formed a W pattern showing bullishness. On the 63mts TF, the final candle of the day almost fills the gap between the support and resistance. Hoping to see follow through tomorrow. The algos were at a loss today, understandably so because of the wild swings we got today.
NSE:BANKNIFTYLong
by viswaram
Bank Nifty closed near imp 48k level amid high Volatility Bank Nifty remained volatile throughout the session after opening on a positive note today A Small body Bullish candle is formed on daily chart with long lower wick. The imp upside hurdle is placed around 48200/300 whereas downside support is around 47200 zone Track for price to form Price Action Patterns at Imp Levels, However market may show quick swings during the last phase of elections Keep Tracking Charts *For Educational Purpose Learn & Practice Price Action setups
NSE:BANKNIFTYLong
by Himanu_HATradeTalk1
Banknifty Prediction for tomorrow 17 May 24As we discussed Banknifty sideways or Bullish; it ended-up sideways with high volatility. If we look at the chart: The market is trading at resistance (Price action + 200 EMA resistance) right now. the important levels for tomorrow are 47401, 47000 will be working as very good support. while 200 EMA, 47970, and 48332 will be working as nice resistance. If we look at OI data: PCR = 0.88 shows bullish structure. if we notice today after 11 AM they is a very heavy CE winding up in the market. 48000 CE was removed approx 33% that shows big players are winding up CE positions in heavy quantity. which might push the market to upside. FII and DII not yet available. I nam expecting market to go Higher in uppcoming sessions. Reasons: RSI crossing 60 to upside that might be a starting of new bullish trend. Price > EMA (13) but less than 200 EMA(resistance), which shows the market still has to break 200 EMA to go bullish. PCR = 0.88 shows a bullish sign. Price > VWAP means bulls are getting strength. The market has already given a breakout it was a good accumulation today; soon, it will shoot to the upside. Verdict: Sideways or Bullish Plan of action: Sell 48000 CE and 47600 PE (Hedge with 20/- Premium)
NSE:BANKNIFTYLong
by finnova_
BankNifty levels - May 17, 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 May 16th.BankNifty also has the same sentiment. The market may start with a gap-up. After that, if it breaks or consolidates around the immediate resistance zone, then it may continue the rally and could reach a minimum of the minor swing high to 48424. Alternatively, if the market rejects sharply around the immediate resistance zone, initially we can expect a 23 to 38% correction. After that, if it breaks the 38% Fibonacci level, we can expect the correction to continue to the level of 78% to the next 1.27 extension. On the other hand, if it finds support around the minor Fibonacci level of 38%, then the market will maintain the bullish bias.
NSE:BANKNIFTY
by Manickamtraders
7
15 May 2024 - Banknifty in neutral territory, break 47465 for 🐻BankNifty Analysis — Stance Neutral ➡️ BN ended the day with cuts of -172pts ~ -0.36%. We went neutral after the price action on 13th May. After that, we had one up day (14th) and a down day (15th) — the result, we are back in the neutral territory. BN did not even go to the 48115 levels which came as a surprise. Ideally, on 16th there may be an attempt to take out 48115 resistance, only then the Bulls can exert their dominance. If it stays like this, we get another lower low formation and it would mean the Bears will come back much stronger. Only if 47465 is broken, we will change our stance from neutral to bearish. The algos made a super profit of 45596 INR today.
NSE:BANKNIFTY
by viswaram
BANKNIFTY prediction for tomorrow 16 May 2024Banknifty has been Bearish for the last two weeks. Now, Bank Nifty is in the support zone. If we look at the chart now: Banknifty has successfully broken the bearish trend to the upside. It gave a nice V-shape recovery. But big players have not accumulated the quantity, and that's why there was huge volatility yesterday. The market has taken support at Fib 0.38 of the current minor trend. It is in range bound 47578-47935. if it breaks 47935 to the upside, the market can form a higher high till 48432. If we look at the OI data: PCR = 0.86, which shows that next week's market is bullish. That's why big players are accumulating the quantity at lower levels. There is only a significant level of resistance at 48000—other than that, all levels have very normal CE and PE writing. I am expecting the market to go bullish for next week's expiry and sideways for tomorrow's session : Reasons: RSI is 40-60 shows the market is going to be sideways. Price ~= EMA (13) but less than 200 EMA, which shows the market still has to break 200 EMA to go bullish. PCR = 0.86 shows a bullish sign for tomorrow. But as it is the 1st day of the expiry session, it will not make much difference. The market taking support from the Lower channel of Vwap means bulls are getting strength. The market has already given a breakout after little accumulation; soon, it will shoot to the upside. Market has been providing good volume at buying candles shows upcoming bullish market structure. Verdict: Sideways or Bullish Plan of action: Sell 48000 CE and Sell 47600 PE (Hedge with 20/- Premium)
NSE:BANKNIFTYLong
by finnova_
BankNifty levels - May 16, 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 Analysis & Prediction in DTFThis is the analysis of Banknifty in Daily Time Frame. Watch carefully. The chart explains itself. There are some prediction levels. These Levels act as Support and Resistance according to position of price. You have to trade according to level breakout or breakdown. Always maintain your risk management. Book your profit according to your “STOMACH”. Disclaimer: This is not investment advice. I am not a SEBI Registered Analyst. Anything posted here is my own analysis and views. This is created for educational purposes only. Always consult your Financial Advisor before taking any decision or trade. Happy trading.
NSE:BANKNIFTY
by suraranjanganguli
14 May 2024 - BN needs a bit more thrust to go BullishBankNifty Analysis - Stance Neutral ➡️ The definition of a neutral stance was much more suited for BN rather than N50 today. See the short-range in which BN operated today and notice the slow grind. Even then the volatility was very high, take a look at the HDFC Bank price moves today. How does the elephant move like that? BankNifty may not go bullish even if 48115 resistance level is taken out, it may need a bit more thrust for a change in stance. The reason is because the downfall was quite sharp and before changing the stance, we need to make sure that a higher low is not getting formed. Algos ended the day with gains of 8064 INR. Ideally, it should have made more as the chart was stable - but the volatility ensured the premiums were skewed causing unplanned losses earlier in the day.
NSE:BANKNIFTY
by viswaram