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#banknifty directions and levels for FEB 23Banknifty also has the same sentiment, but there is no solid pullback. However, if the gap-up sustains and breaks the Fibonacci level of 78% (47160), then we can expect further continuation. The alternate view is the same as with Nifty. If it rejects sharply around the 78% or if the gap-up doesn't sustain, then initially, we can expect a 23 to 38% Fibonacci correction. After that, if it finds support there, it may form a range for pullback continuation. However, if it breaks the Fibonacci level of 38%, then the correction may continue, and we can expect the Fibonacci level of 78% to the swing low."
NSE:BANKNIFTY
by Manickamtraders
22 Feb ’24 — BankNifty is bullish even though we had a RED DayBankNifty Analysis - Stance Bullish ⬆️ BankNifty did not have as much of a wild swing as Nifty50 had today, interestingly the SR trendline (blue sloping line in the below chart) was in action. We fell below this support at 09.59 and stood there till 14.59. Only in the last 30mts we managed to go above this level. If you notice in detail it is when BN crossed this resistance that N50 surged past its 22051 SR. Let us not steal the credit as it was all NiftyIT that helped N50 do its magic. BankNifty even though ended with a loss of 0.21% - we are still bullish on it. 4mts chart In fact, we had one 63mts candle below the blue trend line today and ideally, we should have changed the status from bullish to neutral. Had BN stayed lower and not reclaimed its lost ground, we would have 100% gone with a neutral stance for tomorrow. As it stands the next resistance is at 47465 and it is a tough level. If the euphoria from the US markets is spilling to ours tomorrow (SPX +1.96%, NDQ +2.87% as of writing) - then we might even have an outlier GREEN session tomorrow. 63mts chart
NSE:BANKNIFTYLong
by viswaram
Banknifty analysis for tomorrow 23 FebAs we have been discussing, Banknifty has had a double-bottom structure for the past week. It has been consolidating at the neckline. Now, if we look at the chart data: The market is trading at the resistance area. Where the 4h-TF trendline is providing resistance. Also, 47323 is our price action resistance. 46426 is our recent price action support, which is also confirmed support by 200 EMA. If we look at OI data: PCR = 0.99, which indicates bullish market sentiments. FII data shows indecisiveness. 47000 is acting as MAXPAIN. On the above side, 47500 will be nice resistance, whereas 46500 will provide a good support zone in upcoming sessions. I expect the market to be sideways in the range of 46500-47350. above 47350, the market will be bullish. Reasons: Price > EMAs, which indicates bullish market sentiments. RSI ~ 55. If it crosses 60 to the upside, It will be bullish. In a range of 40-60, the market will be sideways. Volume analysis for today's activity shows a neutral behavior. Pcr = 0.99 shows the market is bullish. FII and DII data are mostly indecisive. Verdict: Sideways or Bullish Plan of action: Case 1: Range selling in the range 46500-47350. Case 2: go bullish above 47350.
NSE:BANKNIFTYLong
by finnova_
FASP levels for Bank Nifty 23/02/2024The FASP for BankNifty is listed for 23-02-2024. 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.
NSE:BANKNIFTY
by SathishChandrasekaran
1
BankNifty levels - Feb 23, 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 level for FEB 22Banknifty structurally differs a little from Nifty, but here also, we can expect a ranging market initially if the gap-up sustains. We can expect a rally continuation only if it breaks the previous high. On the other hand, if the gap-up doesn't sustain, then we can expect a minor correction here also. After that, if it finds support around the demand zone, the ranging market might continue. However, if it consolidates or breaks the demand zone solidly, then the correction will continue further.
NSE:BANKNIFTY
by Manickamtraders
BankNifty levels - Feb 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 prediction for tomorrow 21 Feb 24As we have been discussing, Banknifty double bottom pattern nature in a couple of days. Today, it has broken successfully to the upside. Now, if we look at the chart data: The market has broken the double bottom neckline to the upside. There is a higher chance for the market to go upside down. The market path for now is clear till 47500. There is a resistance trendline at 47500, which might hold the market for a bit. If we look at OI data: PCR = 1.55 indicates the market's super bullishness. There is only a little CE writing at higher levels till 47500. The market is now in bulls control. 47000 is MAXPAIN. Once the market momentum starts, it will go directly to 47500. I expect the market to go bullish till the resistance trendline. Reasons: Price> EMAs show the market is having bullish sentiments. RSI > 60 shows the market is in a bullish region. Price> VWAP shows the market is bullish and has a balanced Price with volume. OI data PCR = 1.55 shows the market is in full bull's control right now. Also, 47500 will be providing the next resistance in the market, which is also the resistance trendline. Verdict: Bullish Plan of action: Sell 47100 PE (hedge it with a 30 rs premium)
NSE:BANKNIFTYLong
by finnova_
BankNifty levels - Feb 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
BankNifty levels - Feb 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 - 19/02/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 19/02/2024 - Levels IMPORTENT ZONE FOR THE DAY: 46300 – 46330 Important Support and Resistance for the Day... Support - Resistance - Support-1: 46260 Resistance-1: 46500 Support-2: 46090 Resistance-2: 46630 Support-3: 45930 Resistance-3: 46690 Support-4: 45700 Resistance-4: 46800 ____________________________________________ Happy Learning and Trading – TST5121 Rules to fallow... 1) Trade with Strict Stop Loss. 2) Trade with Small Quantity. 3) Take entries based on Support & Resistance Levels. Please take the trade according to the levels marked, with Risk-Reward. This is not a Buy or Sell recommendation to anyone. Take entries after your own analysis. This is for education purpose and a helping hand to learn trading in market. NOTE: Trade with Strict Stop Loss. It may or may not hit all levels. So one can book profit / loss at respective level considering how price action works near that level. 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. SHORT FORM &FULL FORM 20 -> 20 EMA in Day Red Zones... -> Resistance-Zones Green Zones... -> Support-Zones IMP -> Important PDH -> Previous Day High PDL -> Previous Day Low PDC -> Previous Day Close PDO -> Previous Day Open PWH -> Previous Week High PWO -> Previous Week Open PWC -> Previous Week Close PWL -> Previous Week Low D_S -> Day Support D_R -> Day Resistance W_S -> Week Support W_R -> Week Resistance W_O -> Week Open W_C -> Week Close LW_O -> Last Week Open LW_C -> Last Week Close MS -> Major Support SH -> Swing-High SL -> Swing-Low DT -> Double Top DB -> Double Bottom TT -> Triple Top TB -> Triple Bottom TF -> Time Frame BO -> Break-Out RR -> Risk-Reward SL -> Stop-Loss GAP -> The area b/w Previous Day Close and Today Open (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121
BankNifty Intraday Trade Setup | 19th FebToday BankNifty opened with a gap-up around 46500 which was also a major resistance zone as we mentioned and we saw morning selling towards 46260 odd levels where BankNifty took support and gave a bounce back but overall it was a range-bound day. For tomorrow, BankNifty has to sustain above 46550 for further upside which can take BankNifty towards 46670 and upper marked levels. On the other side, if BankNifty breaks 46200 on downside, we expect to see 46080 and below marked levels on the chart. Expectations: Volatile day. Intraday Levels: Buy Above - 46550 Sell Below - 46200 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
1
16 Feb ’24 — BankNifty will have to support N50 next week for ⬆️BankNifty Analysis - Stance Neutral ➡️ The move BankNifty made did not correlate with Nifty50 today. BN’s gap-up was sold into and then we recovered once the gap was closed. Yes, there was no selling pressure which was common to both. The straddles on BN were progressing better than expected when we had a quick surge and an equivalent fall between 13.31 and 14.11. We assume it may be connected with a news/event that broke about Paytm & selection of any of the banks for its payment settlements. 4mts chart On the higher timeframe, you can notice how BN is making progress to its next resistance level of 47465. Since it is inside a descending (but not parallel) channel, it need not even break the resistance for a stance revision to bullish. All it has to do is take out the 47016 levels soon and break the upper end of the channel. Since Nifty50 has made its intention clear to go long, BankNifty willingly or not would have to support that cause. We wish to maintain a neutral stance till then and go bullish as and when the conditions specified are fulfilled. 63mts chart Algo Trading Our BankNifty algo trades ended today with a gain of 3835 points.
NSE:BANKNIFTY
by viswaram
Banknifty prediction for tomorrow 19 Feb 24As we have been discussing, Banknifty has a bullish nature for a couple of analyses. Now it's reaching near the resistance zone @46970. Now, if we look at the chart: The market has broken to the upside; also, the market is making a double bottom if we look at the 4H frame. 46300 was good resistance, which broke to the upside. Now, I am expecting it to provide good support. If we look at the OI data: Pcr = 1.10, which shows the market is bullish. However, the above side 46970 will provide good resistance, which is also confirmed by OI heavy CE writing at the 47000 level. MaxPain, for now, is 46500. Once it's broken to the upside, the path to 46970 will be clear. I expect the market to be volatile in this zone, as per the historical data. Right now, at a double bottom neckline. I am expecting volatility in 46300-46970. Reasons: The last two times, the market fell sharply from this level. Price > EMA indicates bullishness in the market. RSI is showing bearish divergence. Some consolidation is required at this point. OI data Pcr = 1.10 shows bullishness. 46500 is MaxPain, and 47000 shows heavy CE writing. VWAP ≥ price, which indicates bullishness in upcoming sessions. Verdict: Bullish till 46970 level. Plan of action: Be aware of opening high; if the market gap-up, there is a high chance of range bound in 46500-46970. Go with an Iron Condor in the range 46500-46970.
NSE:BANKNIFTY
by finnova_
6
Banknifty prediction for today live 15th FebI have been busy for the last two days. If you have been following my analysis, we marked a resistance line, which got a breakout yesterday, and after that, it gave a very nice bullish momentum. Now, if we look at the chart: The market is already in the breakout phase, but right now, it is sitting at the resistance zone that has been tested multiple times. There is a high probability that Banknifty will be continuing the bullish momentum. But 46100 will be providing good resistance once its broken bull's path is clear to 47000. If we look at OI data: PcR = 1.10, which shows the market is very bullish. 46000 has good CE writing, which might provide good resistance, which is also confirmed by Price action. As it's 1st day of the week, OI will not matter much. FII and DII show bearish on Options, which might lead to some sideways days because, in the future, FII is bullish. I am expecting the market to get sideways in the range of 45600-46100(color as Cyan). If it breaks 46100 to the upside, I am expecting more bullishness. Reasons: Price > EMAs, which shows the market is strong. RSI > 60 shows good strength in the bulls. OI data Pcr = 1.10 shows the bullish sign. which is also confirmed by the Price action breakout. Price> VWAP, which shows the market is having strength. Verdict: sideways in the range 45600-46100 Bullish; if breaks 46100 to upside Plan of action: Case 1: Range selling in 45600-46100 Case 2: go bullish if it breaks 46100 to the upside.
NSE:BANKNIFTYLong
by finnova_
Banknifty analysis prediction for tomorrow 12 Feb 24As we discussed in our last analysis, it's bearish behavior, but it took support at 45000 and turned bullish. Now if we look at chart data: the market is trading at a resistance trendline. Which has rejected the Price twice. It might reject it again. Also, the Price is at 200 EMA, which can provide a good resistance at this level of confluence. Looking at the OI data: Pcr = 0.86 shows the bullish nature of the market. 46000 shows Huge CE writing, which means it has heavy resistance. The lower side, 45000, is showing good PE writing, which means we are going to provide nice support at this level. We can also see in charts 4550045500-46000 is to be a sideways volatility range. All possible scenarios have been marked on the chart according to their probability of occurrence. I expect bullishness . Reasons: Price > EMA(13); also trading at 200 EMA. (indecisive.) Price is trading at a resistance level; either side will decide the direction of the market at that moment. RSI > 60 shows good strength in the bulls. OI data Pcr = 0.86 shows the bullish sign. which is confirmed by FII and DII data. Price> VWAP, which shows the market is having strength. Verdict: Bullish Plan of action: observe the 15-minute candle and then go in as situations marked on the chart.
NSE:BANKNIFTY
by finnova_
2