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Bank Nifty - 19/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 19/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 45755 – 45775 Important Support and Resistance for the Day... Support - Resistance - Support-1: 45430 Resistance-1: 45900 Support-2: 45247 Resistance-2: 46185 Support-3: 45105 Resistance-3: 46406 Support-4: 44960 Resistance-4: 46570 ____________________________________________ 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 0.5 -> 0.5% Swing 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 IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones 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 Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals)
NSE:BANKNIFTY
by SriTrader5121
Huge selling in Banknifty. Analysis for 18/01/24.Single day fall of 2k points in banknifty is showing a bearish sentiments. A break out of the consolidaiton box is confirmed. Now the market is standing at 46050 and a clear support of 46k can be seen. If 46k levels is gone another day of selling may be there. Major support :- 46000, 45650 Market closing below the 20 ema and near to day low. Watch market price action for 1 hour as after a huge selling overnight positions will be initiated and in the first 15 minutes there will be profit booking, in case of gap down opening. Avoid bullish trades for tomorrow. The banking sector is down because of the HDFC bank single handed fell 8%, almost 150 points lower. Gap up will create confusion. In this case avoid trading. Wait and watch price action.
NSE:BANKNIFTYShort
by Mambotrade
4
BankNifty levels - Jan 19, 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
SOUTHBANK -Seizing MomentumChart Analysis: The banking stock in focus has been on a solid uptrend, showcasing consistent strength in recent sessions. After a healthy retracement, the stock has now initiated a new momentum move, providing an enticing entry point for traders seeking short-term opportunities. Technical Indicators: Uptrend Confirmation: The stock's established uptrend is a positive signal, indicating strong investor confidence and potential for further upside. Retracement Pattern: The recent retracement allowed the stock to cool off, providing a healthier foundation for the next leg up. Today's Momentum: The initiation of today's momentum is a key indicator, suggesting a potential continuation of the uptrend. Note: Always conduct your own research and due diligence before making any trading decisions. Short-term trading involves risks, and it's important to have a clear strategy in place.
NSE:SOUTHBANKLong
by TTS007
#Banknifty directions and levels for JAN 18th"Good morning, friends! Here are the directions for January 18th: The global market sentiment is moderately bearish, supported by the Dow Jones, while our local market sentiment shows a bearish trend. It might open with a gap-down start, as indicated by Giftnifty showing a -160. HDFC Bank's results' impact is still ongoing. Structurally, we can expect a pullback around the major support level. If it rejects, then we can anticipate a minimum of 38% to 61% pullback. On the other hand, if it breaks or consolidates around the major support level, the correction is likely to continue."
NSE:BANKNIFTY
by Manickamtraders
Bank Nifty on Thursday 18/01/2024Bank Nifty shows big fall as per price action, I said before market was pumped for a big fall, Now market have no more liquidity at this place, so market will show again up side momentum for next few days to accumulate liquidity... but still one more big fall is remaining as per price action.. market will not go down until it breaks 45979 (major support) Here is the levels (Marked Red) for day basis, Resistance: 47113 46949 46641 46466 46389 46238 Support: 45979 (This is major support on 5 min,15 min,1 hr., 4 hr. time frame) Note : Market may show false brake down This is my personal view only for educational purpose
NSE:BANKNIFTY
by bornforseain1984
17 Jan ’24 — BankNifty & Nifty are both bearish now - Consensus BankNifty Weekly Analysis Between the last expiry and today, BankNifty has fallen 1274 points ~ -2.69%. It may not look so dangerous, but keep in mind we had a swing range of 2328pts ~ 4.82% between the high to the low of the week. Of these 2328pts, 2060pts ~ 88.4% came just today. 16mts chart BankNifty Analysis - Stance Bearish ⬇️ We opened 1423pts ~ -2.96% gap down today. The first 2 candles were green showing some fightback to reclaim the 47465 S/R which we just broke. BankNifty’s support break was the major highlight anyway - It was right below the bullish trend line and above the bearish trend line yesterday. The breakdown from there was the real impact. 4mts chart The option prices were absolutely crazy, especially on the CALL side. The premiums remained elevated right till 15.00. The PUT options on the other hand (far OTM) had given up the premiums even though it had some unusual surge in the opening minutes. Most of the traders would not have capitalized on the premium spike as by the time they punched the orders, the premium would have evaporated. 63mts chart The price action today paves the way for further downward action. Primarily both Nifty and BankNifty are in the same stance (bearish) and secondly, N50 has just violated the ascending channel whereas BN steered clear on 1st Jan. The biggest issue is that the next support comes at 45399 followed by 44542 and both indicate steep cuts.
NSE:BANKNIFTYShort
by viswaram
BANKNIFTY prediction for tomorrow 18 JAN 2024As we have been discussing BankNifty in the last few days, it's going to be bearish. Today, it gave a massive bearish momentum with 2000 points to the downside, which is registered as the biggest fall of BN after Corona. If we look at the chart data now, it was in the range of 47000 se 48250, which has been broken to the downside successfully. Now, the next levels of support are 45693 and 44938, which I45693 is achievable easily if it gains momentum. Also, the BN target of range breakdown is still not completed (target 45680). If we look into OI data PCR = 0.65 (weekly), 1.1 (next expiry). Looking at the levels, 46000 has huge PE writing. If it breaks to the downside, there is not much obstacle. We can easily achieve the target marked on the charts. I expect the market to fall tomorrow. It will provide a very nice target if you are able to short the market at a high point after a retracement. Reasons: Price < EMAs, which indicates the weakness of bulls or bearishness. RSI < 40, oversold zone shows bulls are weak at this point. So some retracement and then again fall is expected. Price < VWAP that shows bearishness in the market. OI data shows PCR = 0.65 which is bearish. 46000 still has nice PE writing left, but once it breaks, it will fall smoothly. (Bearish) 46680 and 45000 are potential support zones for now if they behave nicely in Price Action. EMA(50,200) bearish death crossover, which indicates a trend reversal. (Bearish) Verdict: Bearish if breaks 46000 will provide a nice target. Plan of Action: Sell 46000 CE + BUY ~25rs CE (for hedge protection) after a retracement.
NSE:BANKNIFTYShort
by finnova_
3
BankNifty levels - Jan 18, 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 Jan ’24 — BankNifty is < bullish & > bearish trendline ➡️BankNifty Analysis - Stance Neutral ➡️ BankNifty was sailing smoothly till 12.59 today when it fell below a weak trend line. Till then it was holding its end of the bargain when the sectors around it were falling, most noticeably NiftyIT. Yesterday we changed the stance of BN from neutral to bullish - but we did not get the required pump-up today, hence we are reverting back to the neutral stance. 4mts chart BN fell close to 302pts ~ 0.63% between 12.03 and 13.35 - it was during this phase that it breached the shallow trend line. Even though that trend line is insignificant in the grand scheme of things, it may be more than enough to discourage the weak bulls. Surprisingly, BN did not fall below the 47996 zone which would have meant pure bearishness. 63mts chart The chart may look complex with many lines crisscrossing, but it is simple to understand. The line connecting 47010 to 48265 is the shallow trend line formed due to the bullish move from the 10th of Jan. The flatter downward-sloping line from the ATH & connecting the peaks is a bearish trend line. Right now BN is below the bullish line and above the bearish line, if it falls further we go into the bearish zone. If the chart felt too complicated - drop in a comment & we will be happy to help.
NSE:BANKNIFTY
by viswaram
Bank Nifty - 17/01/2024 - LevelsHello Traders, Welcome to SriTrader5121 -------------------------------------------------- Bank Nifty - 17/01/2024 - Levels IMPORTENT ZONE FOR THE DAY: 48160 – 48180 Important Support and Resistance for the Day... Support - Resistance - Support-1: 48050 Resistance-1: 48165 Support-2: 47867 Resistance-2: 48250 Support-3: 47826 Resistance-3: 48305 Support-4: 47755 Resistance-4: 48380 ____________________________________________ 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 0.5 -> 0.5% Swing 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 IMP -> Important R@1, R@2, R@3... -> Resistance-Zones S@1, S@2, S@3... -> Support-Zones 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 Blue Color Text (S@*, R@*) -> Act as Major Support or Resistance-Zones (Be Alert, Chances to Market take Reversals) If market open as a FLAT and moves to UP - SIDE then BUY with the Support of R-1 and SELL with the Rejection of R-1. (Or) If market open as a FLAT and moves to DOWN - Side then BUY with the Support of S-1 and SELL with the Rejection of PDL. Possibility 2: GAP-UP If market open as a GAP - UP and moves to UP - Side then BUY with the Support of PDH and SELL with the Rejection of PDH. (Or) If market open as a GAP - UP and moves to DOWN - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. Possibility 3: GAP-DOWN If market open as a GAP - DOWN and moves to UP - Side then BUY with the Support of IMP and SELL with the Rejection of IMP. (Or) If market open as a GAP - DOWN and moves to DOWN - Side then BUY with the Support of W-R and SELL with the Rejection of W-R.
NSE:BANKNIFTY
by SriTrader5121
BankNifty levels - Jan 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
PITTIENG Resilient Rally:Strong Uptrend with Potential Breakout.Technical Analysis: Uptrend Formation: The consistent higher highs and higher lows demonstrate a well-defined uptrend, indicating strong bullish sentiment. SMA Support: The recent price movements have shown significant support around the Simple Moving Averages (SMA), particularly the 50 SMA. This adds an extra layer of confidence to the overall bullish bias. Breakout Potential: The current price is flirting with a breakout above a key resistance level. A decisive move beyond this point could trigger a strong bullish momentum.
NSE:PITTIENGLong
by TTS007
BANKNIFTY prediction for tomorrow 16 th JAN 24As we discussed, BANKNIFTY yesterday, "If breaks will go bullish", it broke the pattern to the upside, and then it made a good bullish move, but it had quite high volatility. Now, it has broken to the upside; I am expecting it to go HH till 48500. Suppose we see OI data PCR = 1.25, which is bullish. Also, at higher levels, 48200 has minor resistance. If it breaks to the upside, then the direct target will be 48500. I am expecting it to go bullish till level 48500. Reasons: Price ~ EMA(13) means its balanced bullish. It has already given a breakout to the upside target marked on the chart. (Bullish) RSI 68, which is perfect for a bull run. (Bullish) The market already took support at 200 EMA. After that, it showed a bull market run and also broke the pattern with power. According to OI data, PCR = 1.25, which is bullish, with only minor resistance at 48200, but looking at bullish power, it will break easily. (Bullish) Price already took support at VWAP and became bullish. It will now continue till levels of 48500. Verdict: Bullish Plan of action: If the Market opens sideways, go bullish with CE buying. If the Market opens high, let it retrace, then enter.
NSE:BANKNIFTYLong
by finnova_
Banknifty weekly analysis for 15/01/24.Banknifty on the weekly close has given a hammer candle and has retraced from 61.8% levels. It has given a slow progress after testing the ATH and is lagging the other index. There are chances of it giving a nice move this week, if it starts trading above fibonacci level. There is a parallel channel consolidation and if it clears the resistance zone around 48k levels there will be a good move to capture 200-250 points on the spot chart. Major resistance levels :- 47860-900, 48180 Higher targets in a bullish trade can be captured by trailing the SL. Price action and setup should be checked before entering any trade. Support zone :- 47610-650, 47450, 47250 The zone between 47600-47900 is a no trading zone for tomorrow. If there is a flat to slight gap up/down opening and market consolidate in the first half and move on the higher side in the second half, good targets can be captured in the index.
NSE:BANKNIFTY
by Mambotrade
BankNifty levels - Jan 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 - Intraday levels & Prediction for 15 Jan 2024Banknifty Prediction for Tomorrow Banknifty is weak when comparing to nifty, when it trades below 47600 we can expect 46K and below will be tested. BULLISH only if sustains above 47890/48000 Sideways or BEARISH move is expected tomorrow. Look for Buy/Sell at Demand and Supply zone for profitable trades. Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support. Refer the chart for detailed Intraday Support and Resistance levels. Happy Trading!!
NSE:BANKNIFTYShort
by ViVenTraders
1
BANKNIFTY prediction for tomorrow 15 Jan 24 💰 💸 As we discussed, BANKNIFTY yesterday is "Bearish if it breaks to downside AND sideways in the RANGE." it could not break to the downside. It stayed in the range, resulting in a little bullish but inside the range. There was a minor trendline inside the range, which got a breakout, and then the upper range of the region touched, and some bearishness was seen from there. On the other hand, NIFTY gave a breakout and rallied. Now, if we see OI data, PCR is 1.0, which is bullish. But if we compare it to the NIFTY. Nifty has more bullishness than BANKNIFTY. As of right now, Banknifty is also at the surge of breakout. It broke to the upside, and it will be giving a very nice target till 48500. If it opens Gap-up, wait for it to retrace to EMA 13, and after the candle color changes, you can make a bullish entry. If we see OI data, 48000 is showing very good resistance, but if it clears, then we will have a clean target till 48500. Now, tomorrow, I am expecting it to go bullish if it breaks the descending triangle pattern to the upside. Reasons: Price > EMA(13,50,200) shows bullishness in the market. As it is forming a descending triangle pattern, If it breaks to the upside, it can give a very nice bullish momentum till the 48500 levels. RSI = 54 shows bullish once it crosses 60 to the upside; you can easily go bullish; if it breaks the descending triangle pattern, it will obviously cross 60 to the upside. PCR = 1.0, which is Bullish. Only 48000 is showing significant resistance. If it gets cleared, it will give me a chance to go to HH. 200 EMA will be providing nice support at this point. VWAP ~ Price, which shows market price is volume balanced. If it gives a break to the upside, there are higher chances that it will give nice bullish momentum. Verdict: Bullish if it breaks the descending triangle to the upside. Plan of action: check the 15-minute candle; if it breaks to the upside, you can go bullish as follows. SELL 47900 PE and BUY 46600 PE (for Margin Benefits)
NSE:BANKNIFTYLong
by finnova_
BankNifty levels - Jan 15, 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 JAN 12.#Banknifty Banknifty has also progressed in sub-wave 4th (expanding diagonal). So, if it opens with a gap-up, there might be an undergo a 5th sub-wave. It may reach a minimum of 47,741 to the fib level 50%; after that, if it rejects sharply around there, then we can complete sub-wave 5th and anticipate the correctional (ABC) wave. This is the basic structure; however, if the market sustains or consolidates around there, then the 5th might extend. Bearish aspect: If the gap-up doesn't sustain or if it opens with a gap-down, it may take a range market structure. Alternatively, if it breaks the previous low, then we can expect correction continuation.
NSE:BANKNIFTY
by Manickamtraders