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 has undergone significant changes. If the market opens with a gap down, we can initially expect a range market. However, if the initial market takes a sharp correction, it will reach fib levels between 38% to 50%. the rally will continue only if it breaks the supply zone."
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 has the same sentiment structurally; we can expect a range market today. The movement will occur only if it breaks either up or downside with a solid structure."
Hello 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:...
Today 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...
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...
As 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...
I 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...
As 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. ...
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 For BankNifty, there seems to be a similar sentiment where it's in the 5th wave of a diagonal structure. If it rejects around the immediate resistance level (78), there's an expectation of a correction, with a minimum retracement of 23 to 38%. However, if the gap-up sustains or breaks the immediate resistance, then the rally is likely to continue.
Today BankNifty opened with a gap-up around 46100 and opening price was a morning high. We saw almost 500 points fall in morning but BankNifty took support at 45590 and gave a rebound towards 46300 levels. For tomorrow, BankNifty has to sustain above 46350 for further upside which can take BankNifty towards 46470 and upper marked levels. Keep an eye on 46500...
BankNifty Analysis - Stance Neutral ➡️ BankNifty also does not get a stance revision today, but the progress it has made in the bullish direction is commendable. The first thing it did today was to defend the descending trendline (see encircled region). And from there it almost followed a steady 45-degree climb - showing strength. Except for the first 45 minutes,...
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...
Bank Nifty is a little different from Nifty. The current pullback is violating the wave rule, so it might be in a leading diagonal. If it's a leading diagonal, then it won't take a sharp rally. If it opens with a gap-up, then it may reject around 78%, and then we can expect a minimum correction of 38%. If it breaks 38%, then we take a breakout short position and...
Yesterday market went bullish, I was biased on bearish view but it went bullish. This is why market is unpredictable, However, market respected my support and resistance levels which helped me to take trade entry. Similarly, Today also I'm sharing my support and resistance levels for today 15 Feb 2024. I'm expecting a sideways or rangebound market today, be...
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...