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BankNifty levels - Mar 28, 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 March 27th.Bank Nifty also has the same sentiment. If the gap-down sustains and breaks the Fibonacci level of 50%, then we can expect a minimum of 61 to 78% correctional wave. After that, if it finds support there, it may undergo a minor pullback wave of the Fibonacci level of 38%. On the other hand, if it breaks or consolidates around the Fibonacci level of 78%, then the correction will likely continue. Alternatively, if the gap-down doesn't sustain and if the initial market experiences a sharp pullback, it might enter a range market between the previous high.
NSE:BANKNIFTY
by Manickamtraders
26 Mar ’24 — BankNifty appears more bearish than neutralBankNifty Analysis - Stance Neutral ➡️ BankNifty started the day weak and continued to stay weak. The rebound from the opening low was not as dramatic as N50, we broke the low at 10.03 indicating further weakness. Technically BN only closed 0.56% lower vs Nifty which closed -0.42%, but the visual impact shows more negativity on BN than N50. Firstly because the recovery was almost not there and secondly because we kept on losing the lows. 4mts chart The chart pattern on BN is not bullish anyway. Even though the numbers look flat & neutral, the chart is screaming bearish. But you know we cannot go bearish until the support is broken or a new lower low is formed - so we might have to be contended with what we have. NiftyIT has made a decent reversal from the interim top, if BN also keeps falling then no way can N50 stay at these levels. Sector rotations do work for a limited period but if we have the financials and IT putting its weight on one side, all the other sectors combined cannot pull N50 back. 63mts chart – Algo Trading Our algo trades ended today with a gain of 27404. Exited the trades @ 10.54 and did not want to test my luck after that.
NSE:BANKNIFTY
by viswaram
Bank Nifty 27-03-2024 AnalysisHello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - Above Side-ways-zone Sell - Below Side-ways-zone See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 ______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. ______________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
NSE:BANKNIFTY
by SriTrader5121
BankNifty levels - Mar 27, 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 March 26th.Banknifty also has the same sentiment. If the market opens with a gap-down, then the 38% to 50% zone will act as support. If it finds support there, we can expect a range-bound market. However, if it consolidates or breaks that level, then the correction will continue further. Alternatively, if the market opens with a gap-up and breaks the previous day's high, then first we should watch the breakout structure. If it has a solid structure, then we can expect sharp moves. If it breaks with less volume, then it may form a diagonal pattern, because if it breaks the previous high, then the 5th wave may continue. The 5th wave is a distribution wave.
NSE:BANKNIFTY
by Manickamtraders
BankNifty levels - Mar 26, 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 prediction for today 22 Mar 24Hello Traders, as we have been discussing the resistance line and bears and bull zone in Banknifty, it has broken the resistance line and entered the bull zone, where I expect the market to be bullish. if we look at the chart now: The market broke to the upside yesterday. It opened at +500 and ended up sideways. That means the market is not consolidating at this level now. The market is going to be sideways in the range of 46630-46950. If we look at the OI data: PCR = 0.91 shows the bullish market indication. There is good support at the 46500 level and Resistance at 47000. Intermediate levels have been written equally by both parties. I am expecting the market to be Bullish for this expiry session. All important levels have been marked on the chart. Support: 46627, 46277, 45907 Resistance: 47437, 46900 Verdict: Bullish Plan of action: Sell 46650 PE (Hedge it with 20/- premium )
NSE:BANKNIFTYLong
by finnova_
21 Mar ’24 — BankNifty was never bearish, today is proof.BankNifty Analysis - Stance Neutral ➡️ BankNifty gaps up 422pts ~ 0.91% but doesn't go anywhere. We are neither bullish nor bullish again. One thing was quite clear today, the downside was quite absent today. In fact, our lows of 46651 were protected pretty well. The gaps were because of the outperformance by SPX, NDQ yesterday. Yesterday, the US FED decided to keep the rates flat and also indicated there could be up to 3 interest rate cuts this year. Even though it could be an election gimmick, the markets reacted positively and this spillover effect ensured we are also outperforming. But what it really did was abort the bearish flow. BankNifty was never bearish, but Nifty was and that flow got interrupted. 4mts chart On the higher time frame, the bearish setup did not really start but the patterns look promising. What we need to see if we are getting followthrough on the bullish side tomorrow or not. Next week the trading is cut short by 2 days due to Holi & Good Friday, so I am guessing the decision might be taken tomorrow itself. We would prefer to start the day tomorrow with the neutral stance and then take it from there. 63mts chart - Algo Trading Our algo trades ended today with a gain of Rs19360 mostly because BN maintained a small range today.
NSE:BANKNIFTY
by viswaram
Bank Nifty 22-03-2024 AnalysisHello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - Above Side-ways-zone Sell - Below Side-ways-zone See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 ______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. ______________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
NSE:BANKNIFTY
by SriTrader5121
BankNifty levels - Mar 22, 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 - Mar 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
19 Mar ’24 — BankNifty has another 300pts to go Bearish 🐻🐻🐻BankNifty Analysis - Stance Neutral ➡️ The level of reluctance BankNifty shows to crack is really intense. Usually, Banks react badly to any situation. We now have a peculiar case wherein Nifty has been downward facing for the last 3 consecutive sessions whereas BankNifty has stayed neutral. BankNifty has been losing points steadily, eg: it lost 191pts today but the bearish intent is not there. And you know pretty well we cannot change the status to bearish unless the “Bears” actually push down the index with momentum. We would need a breach of support or a re-entry to the bearish channel for that. 4mts chart Even though BN lost a few points today, it was nothing comparable to Nifty (-1.08%) and NiftyIT (-2.9%). None of the Nifty subsectors were in Green today. The main sector fighting for the bulls was the Financials. My eyes were totally glued on ICICI Bank and HDFC Bank today, despite N50 falling both these banks held their ground pretty strongly. In many instances, both were trading against the current. On the higher time frame, BN has less than 300pts to enter the bearish channel. Tomorrow being the weekly expiry, we are pinning the hopes for a classic bear attack. We would prefer to start the day neutral and go short only if the conditions are met. A rising VIX would be the 2nd clue we might be watching for. 63mts chart – Algo Trading Our algo trades ended today with a gain of Rs27216. I wound up the trades at 12.48 as almost 95% of the target was done and did not want to lose out to a possible directional trend.
NSE:BANKNIFTY
by viswaram
Bank Nifty 20-03-2024 AnalysisHello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - Above Side-ways-zone Sell - Below Side-ways-zone See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 ______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. ______________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
NSE:BANKNIFTY
by SriTrader5121
BankNifty levels - Mar 20, 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
Bank Nifty 19-03-2024 AnalysisHello Traders, Welcome to SriTrader5121 _______________________________________ Overall view for the day. Buy - Above Side-ways-zone Sell - Below Side-ways-zone See the price action at our zones, take the trade according to your Risk - Reward. Happy Learning and Trading – SriTrader5121 ______________________________________ Rules to fallow... 1) Wait for conformation. 2) See the price action at our zones. 3) Trade with Strict Stop Loss. 4) Trade with Small Quantity. 5) Take entries based on Support & Resistance Zones. ______________________________________________ Please take the trade according to the zones marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries based on your own analysis and risk. This is for education purpose and a helping hand to learn trading in live market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels / Zones. So one can book profit / loss based on your risk-reward or considering price action at respective zone how it works near that zone. I hope you all like my analysis. Follow me to get regular updates. Please do share your thoughts in comment section. Please Hit a LIKE, it motivates me to do analysis and do share with your trading friends.
NSE:BANKNIFTY
by SriTrader5121
18 Mar ’24 — BankNifty tests its feet below the bearish channelBankNifty Analysis - Stance Neutral ➡️ BankNifty had to fall 400pts to enter the bearish channel. Well, it did not happen today but we had an interesting candle at 11.15, for a brief period BN dips into the bearish channel and then pulls out. Much like testing how deep the water is before taking the jump. The shorts were strong then and the recovery would have prompted the short covering that took BN up 488pts ~ 1.06% above the high of the 11.15 candle. 4mts chart BN is still neutral as the momentum is missing on the bearish side. Just take a look at the 10.18 (-248pts) and 11.21 (+405pts) 63mts candle. Something tells me the momentum should favor the bulls if we have some consensus. As the CALL shorters are weak, we would need the big boys to enter to really move the needle. FII selling is not really helping. Agreed that NiftyIT tanked today, but the fear factor is still missing on the large caps. If you watch the Nifty sub-sectors you can see how quickly the market breadth changes from GREEN to RED and then back to GREEN. Markets are really on the edge and all it requires is a small push. 63mts chart – Algo Trading Our algo trades ended today with a loss of Rs3430. The charges and the transaction costs were more than the losses as the Algos did quite a lot of adjustments today.
NSE:BANKNIFTY
by viswaram