Breakout in UNIONBANKClear Inverted HnS breakout in UnionBank is visible. The stock is also bouncing off the 50 SMa so that gives more confidence in the trade.
Bankniftyview
#Banknifty directions and levels for March 5thBanknifty is following a 5th ending diagonal pattern. So if the market breaks yesterday's high, it will reach the fib level 78% with minor consolidation. After that, if it rejects there, we can expect a minimum of a 23 to 38% correctional wave. However, if it sustains there (consolidates), then it might turn into an extension variation. On the other hand, if the initial market declines, then we can consider that as an expanding flat variation, meaning the 4th wave continuation. If it finds support around the demand zone, then we can expect consolidation for the 5th impulse wave. However, if it breaks the demand zone, then the correction will continue.
FASP levels for Bank Nifty 05/03/2024The FASP for BankNifty is listed for 05-03-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
BANKNIFTY prediction for tomorrow 5th MAR 24As we discussed BANKNIFTY yesterday, Banknifty resulted sideways. Bulls guarded the support level tightly.
If we look at the chart data now:
The market has been taking support at the 47300 level. We were expecting some consolidation in the market today, which happened today. Now we have to wait for it to break the range (47200-47500) to the upside.
If we look at the OI data:
Pcr = 1.22 (Bullish), which has fallen from 1.44 because of the market's sideways momentum.
47500 is MAXPAIN. Once it's broken to the upside, we can say the market is good to go till 48000. there is not much CE writing on higher levels.
I am expecting the market to consolidate for 1 or 2 days and then a good bullish move till the 48600 levels ass target.
Reasons:
Price > EMAs(13,50,200) shows markets is having bullish sentiment. (Bullish)
RSI > 60 having bearish divergence. The market needs some more consolidation to correct the value of RSI.
PCR = 1.22 shows good strength of bulls; there is not much CE writing at higher levels.
RSI is reaching 77, which was working as resistance previously. (sideways)
Verdict:
Bullish
Plan of action:
Case 1: Sell 47500 PE (Hedge it with 20 rs PE)
Case 2: wait for the market to take support to get bullish.
BankNifty levels - Mar 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!
BankNifty Intraday Trade Setup | 4th MarSaturday was a special trading session and BankNifty opened with a gap-up around 47430 and that was the high of a small trading session.
For tomorrow, BankNifty has to sustain above 47520 for further upside which can take BankNifty towards 47650 and upper marked levels.
On the other side, if BankNifty breaks 47180 on downside, we expect to see 47050 and below marked levels on the chart.
Expectations: Volatile day.
Intraday Levels:
Buy Above - 47520
Sell Below - 47180
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
BANKNIFTY prediction for tomorrow 4th Mar 24As we have discussed, Banknifty's bullish behavior in our last session gave a really nice momentum with 2.4%.
If we look at the chart:
The Banknifty has broken above the trendline, which indicates that the market is currently showing extremely excellent bullish momentum. After this breakout, the market can continue to the level of 48600. The market has been in the consolidation phase for the past 3 months. As it has given a breakout now, I am expecting at least of48600(ATH) to touch again.
If we look at the OI data:
PCR = 1.44 shows huge bullishness in the market. 47000 & 46500 is having huge PE writing at lower levels. Higher levels have CE writing at 47500 & 48000, which is significantly less compared to bulls.
If we look at the FII & DII data, FII is medium bearish because of the resistance zone at 47250, whereas clients are Strongly bullish because of the breakout.
I am expecting the market to go Higher High(HH) till the level of 48500.
Reasons:
Price > EMAs(13,50,200) shows markets is having bullish sentiment. (Bullish)
RSI > 60 shows the market is in control of bulls right now. (Bullish)
PCR = 1.44 shows good strength of bulls at lower levels.
Price > VWAP indicates the market has a bullish nature and tends to move higher in the upcoming session.
47500 seems to be maxPain. If it breaks to the upside, it would be easier for bulls to drag the market to 48500 easily.
RSI is reaching 77 which is working as resistance previously. (sideways)
Verdict:
Bullish
Plan of action:
Case 1: Sell 47500 PE (Hedge it with 20 rs PE)
Case 2: wait for the market to take support to get bullish.
BankNifty levels - Mar 04, 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!
Banknifty Chart & Levels for tomorrow This Banknifty chart analysis is only for educational purposes. Just observe these levels
BankNifty levels - Mar 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!
#Banknifty directions and levels for March 1st.Banknifty closed +150 points with a range-bound structure in the last session. Giftnifty indicates a gap-up start. If the gap-up breaks or sustains around 46448, then we can expect further rally continuation. However, if the market rejects there (46448) or if the initial market declines sharply, then structurally the range market will continue. we could wait for the 38% Fib level breakout for confirmation. If it breaks the 38%, then we can expect a 61 to 78% correction."
BANKNIFTY MATHEMATICAL LEVELS FOR CURRENT EXPIRYThese Levels are based on purely mathematical calculations.
Validity of levels are upto expiry of current week.
How to use these levels :-
* Mark these levels on your chart.
* Safe players Can use 15 min Time Frame
* Risky Traders Can use 5 min. Time Frame
* When Candle give Breakout / Breakdown to any level we have to enter with High/Low of that breaking candle.
* Targets will be another level marked on chart
* Stop Loss will be Low/High of that Breaking Candle.
* Trail your SL with every candle.
* Avoid Big Candles as SL will be high then.
* This is one of the Best Risk Reward Setup.
For Educational purpose only
Banknifty prediction for tomorrow 1 March 24As we discussed yesterday, bank nifty took support at 45600 and then moved back to the bullish side with huge volatility.
If we look at the chart data:
The market is trading below the 200 EMA-(30-min TF). which may provide a good resistance at this point. 45700 has proven to be a good support zone. RSI still needs more strength to get a good bullish momentum.
If we look at the OI data:
PCR = 0.82, which shows the market's bullish sentiments. 46000 is going to be MAXPAIN. There is good resistance to CE shorting at each upper level. However, there is not much OI build-up on the lower side.
I am expecting the market to take a bearish momentum till 45700, and then it will take support and pull back stronger.
Reasons:
200 EMA > Price > EMA(13), which shows the market has bullish sentiment but not enough strength to make a good bullish move. (sideways)
200 EMA is going to provide good resistance at this level for now. (sideways)
RSI is in the range of 40-60, which is mostly sideways. (sideways)
The last two candles show a heavy fight between bulls and bearish. (sideways)
Price >= VWAP, which shows that price is balanced with volume. (Bullish)
PCR = 0.82, which shows the market's bullish sentiments
Verdict:
Sideways
Plan of action:
Make a bull position once the market takes support at 45700.
29 Feb ’24 BankNifty still looks bearish until the resistance...BankNifty Analysis - Stance Bearish ⬇️
BankNifty ended the day in GREEN, up 157pts, but we are still bearish as the resistance line was not taken out (bearish trend line). Also, we are in the bearish channel, the longer we stay in it - the stronger the BEARS grows. 3 candles between 09.59 to 10.07 gave away 498pts ~ 1.08%. And we really thought, it could be the beginning of a longer bear attack. Well, our short call for today did not work out as planned - we were able to cover up some losses as the expiry trades gave outsized premiums due to a spike in IV. The last 30 minutes added 394pts ~ 0.86pts.
4mts chart
A part of the spike in volume could be attributed to the monthly rebalancing. That also means a portion of the price action could be manipulated as well. We will get to know in detail during the opening hours tomorrow. We wish to maintain the bearish stance as long as the sloping blue resistance is not taken out. To go bullish, BN has to rally all the way up above the double-top pattern.
63mts chart
Algo Trading
Due to the monthly expiry, I did not have spare funds to deploy for Algo trades, instead, I put them on the forward test mode. It showed a profit of 19858
I am a registered financial advisor & would be happy to be of assistance to you. DM me for more details.
BankNifty levels - Mar 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!
#Banknifty directions and levels for FEB 29thBank Nifty also has the same sentiment. Structurally, it could fall a little bit, so if the gap-up doesn't sustain, then we can expect a correction that will reach the Fibonacci level of 61% (45675). After that, if it finds support around there, we can expect a minimum of a 23 to 38% pullback wave. However, if it breaks it, then the correction will likely continue.
Alternatively, if the gap-up sustains, then we could expect a range market initially. After that, if it breaks the supply zone, then the rally might continue. On the other hand, if it breaks the previous low, then the correction will continue further
Banknifty prediction for tomorrow 29 Feb 24Let's discuss the BANKNIFTY prediction for tomorrow, as today was expiry, and it gave a nice fall.
If we look at the chart data:
The market is making a flag and pole pattern. Right now, it's in the Flag process, taking support at the lower trendline. 45600 seems to be the next good support point.
If we look at the OI data:
PCR = 0.60 shows the bearish market structure. Where 46000 is MAXPAIN. There are multiple resistances to the upside. But there is very little support on the lower side except 45500.
All important levels have been marked at chart.
If we look at the FII & DII data, it directly indicates a bearish market structure where pros have heavily shorted options.
Now, there are two cases at this point.
Case 1: The market can take support at this support line. And move to the bull side.
Case 2: If the market is broken to the downside, the next support point is at 45573.
Reasons:
Price < EMAs, which shows bearish market structure.
RSI < 40 shows weak bulls strength.
OI data PCR = 0.60 shows heavy bearish.
Making flag and pole pattern, which might lead to bullish momentum from the point at the trendline.
Verdict:
Bearish
Plan of Action:
Case 1: If the market takes support at the trendline. --> SELL 46000 PE (Hedge it with 20 rs PE)
Case 2: If the market breaks the downside --> Wait for it to make price action at 45573.
If there is any doubt pls comment I will be happy to clearify.
BankNifty levels - Feb 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!
Bank Nifty analysis for 28th feb 2024if bank nifty breaks out the level marked in the chart, it may go upside.
Disclaimer: All information provided here is for educational purposes and not a recommendation. Analysis Posted here is just our view/personal study method on the stock. Do your own analysis or consult your financial advisor before making any investment decision.
FASP levels for Bank Nifty 28/02/2024The FASP for BankNifty is listed for 28-02-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities.
What is Fibolysis Anchor SupRes Points(FASP)?
It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds.
Validity of the levels: 1 Day
How to use these levels?
The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options.
Color Coding: Green is regular support and buying area, Red is strong exit area
Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.
#Banknifty directions and levels for FEB 28Banknifty is still a little different from Nifty. If the gap-up sustains and breaks the immediate resistance (50%), then we can expect further continuation. However, if it rejects around the immediate resistance (50%) or if the initial market takes sharp declines, then we can expect a range market. The correction will occur only if it breaks the previous swing low.
27 Feb ’24 — Banks are still neutral, but in the Bearish ChannelBankNifty Analysis - Stance Neutral ➡️
BankNifty is still managing to stay below the bearish trend top line and that means we are in the bearish channel as of now. You might wonder if we are in the bearish channel - why is our stance still neutral? The answer is that, even though we have entered the bearish channel, BN has not shown any signs of breakdown. We are still knocking the resistance level and trying to keep up with Nift50’s direction.
4mts chart
Over the last 2 months, most of my directional bets have gone awkwardly wrong. On investigation, I came to know that it is because of NiftyIT. The level of uncertainty and the swing range of IT stocks are really taking a toll on the stability of Nifty50. Either we need to have FnO enabled on NiftyIT so that we can hedge and tide over the problems it is causing or the Banks have to take charge and cast them out.
63mts chart
On the higher timeframe, BN is still following the double-top pattern with the trades being conducted in the bearish channel. To go bullish, BN has to reclaim the 47465 resistance whereas to go bearish all it has to do is just fall another 650 to 700 points. We wish to look out of neutral trades till the directional clues emerge.
Algo Trading
Our algo trades ended today with a gain of 17460. We closed the trades prematurely as 85% of the day’s target was hit within 11.29 and did not want to risk the lead.
