BankNifty Analysis - Stance Bullish ⬆️
Banknifty was looking strong right from the start. Unlike Nifty, BN did not have a huge gap up, but the rising trend was clear and strong. The reason it was strong was because the moves were not wild swings but slow & steady.
If you look at the 63mts candlesticks, you can notice the body becoming smaller. Usually, it is a...
Utilizing 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...
Banknifty also has the same structural sentiment; it has closed at the Fibonacci level of 23%. If the market opens with a gap-up and sustains it, then we can expect the rally to continue with minor consolidations. In that case, we can expect a minimum range of 49,021 to 49,183.
Alternatively, if the gap-up doesn't sustain, we can expect the Fibonacci level of 38%...
NSE:BANKNIFTY
Bank Nifty, we have seen Almost 3200 points One way rally.
Without any major pullback.
From 45800 To 49000
Now I am expecting a Pullback till 48100 level and then sideways market For 2-3 days.
After this range Formation in Market, We might see fresh breakout and then move for next all time high level again.
Good to keep on the radar
Always...
Utilizing 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...
Banknifty didn't match the performance compared to the nifty. However, it also has some bullish sentiment, so if the gap-up sustains, we can expect a rally continuation with minor consolidation. The reversal will be considered only if it breaks the Fibonacci level 38%, while if it rejects the major resistance level.
An alternate view indicates if the gap-up...
BNF tried to move past 46753, it failed and made a double top before testing 46546.
This is a level that had previously pushed price to around 47000, however, with recent movement, it had been respecting a parallel channel formed in 15MTF. If level 46699 is not broken, we can expect a movement down, this will also fill the gap before moving to 46360.
Note:...
Market touched new milestones at the start of the week
Nifty Bank index also made fresh ATH of 48,716
But profit booking at higher levels erased some of the gains
After sharp upside rally from past few sessions,
Pullback is also pending
Track for Bullish Pattern at Dips
*For Education Purpose
Practice and Learn price action setups
Utilizing 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...
There is a possibility of Triple zigzag correction OR Ending Diagonal pattern in Bank Nifty which suggest sharp fall as drown in chart...Kindly understand detail analysis and logic behind this conclusion and Trade safely with Risk management.
Banknifty has a solid bullish structure, so if the gap-up sustains, we can expect a minimum of 48796. It's a major resistance, so if the market reaches this level solidly, then the market may break this level with minor rejection. On the other hand, if it reaches this level with a minor pullback, then the market may retrace a minimum of 23 to 38%.
Alternatively,...
Disclaimer: This analysis is for educational purposes only, and I'm not a SEBI registered analyst.
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🔍 More Analysis & Trade Setups...
Utilizing 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...
Banknifty, as usual, has followed the same sentiment of Nifty. If the market finds support around the minor demand zone, then we can expect a range market. On the other hand, if it breaks or consolidates around the demand zone, it may continue the correction.
BankNifty Analysis - Stance Bullish ⬆️
The beauty of BankNifty today was that its fall did not go below yesterday’s close. Yes, the fall was intense, but the recovery was more elegant - a steady rise showing immense Bull strength.
And if you read today’s report along with what we wrote yesterday, you might have become a true fan of the Bulls. A true jump above...
Utilizing 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...
Banknifty maintains the range market structure, so if the gap-up sustains and breaks the fib level 78% on the upside, then we can expect the rally to continue. That may reach the supply zone. After that, if it consolidates or breaks that level(SZ) then we can expect further rally continuation. However, if it sharply rejects(around the SZ), then it may retrace a...
