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BankNifty levels - Dec 6, 2023Utilizing 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 direction and levels for DEC 5th"Good morning, friends🌺! As of December 5th, the global market sentiment is moderately bullish, supported by the Dow Jones. However, our local market sentiment shows an extremely bullish trend. It might open with a neutral to slightly gap-down, considering the GiftNifty value at -20. Regarding yesterday's structure, despite a significant increase during the last session, the RSI displayed divergence. This signals a slightly negative aspect for the bullish bias. Therefore, if it opens with a gap-down, we might anticipate a 23 to 38% fib correction. If it finds support around that level, the market could shift into a ranging phase before resuming the rally. Structurally, there isn't a major correction anticipated, but sometimes, there might be a time correction. Conversely, if the initial market stages a sharp pullback and breaches the immediate resistance, then we can expect the rally to continue."
NSE:BANKNIFTY
by Manickamtraders
Banknifty prediction for 5th Dec 23As we have discussed, Banknifty breakout of inverted HNS. It has completed the target of the HNS pattern. Now, it must take some consolidation or a shortfall to the downside to balance the Demand and supply. Also, this is a resistance level; it's likely to take resistance according to the historical data. Reasons: Price >> EMA(13,50,200) need some consolidation or fall to downside. PCR: 1.77 (Huge Bullish) 46500 has some CE writing. But compared to the Bulls, it's negligible. huge PE writing on lower levels shows a strong bullish signal. RSI = 90 already strached. verdict: Bullish for now but soon a fall might be seen. Plan of action: Round off all your bull position, and wait for some consolidation and pattern to form. Then, make a good position.
NSE:BANKNIFTY
by finnova_
BankNifty levels - Dec 5, 2023Utilizing 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
1st Dec ’23 - BankNifty's next move will help Nifty to breakoutBankNifty Analysis Nifty had the gap-up today, whereas BankNifty opened inline but just above the resistance level. 44542 quickly became support and was bid goodbye with the consecutive green candles till 09.50. After that the momentum on BankNifty stalled and we had a flat trade for the remainder of the day. 5mts chart link - click here BankNifty gained points during trading hours i.e. active trading vs Nifty’s Gap-up. This shows real courage among the BN bulls. 1D chart link - click here BankNifty has another 1555pts ~ 3.4% to reach the ATH. From the chart above - you can see we dropped 9% after hitting the double top (M pattern). Nifty’s next action is hugely dependent on BankNifty’s attempt to regain the ATH. I would still like to continue with my bullish stance until proven wrong by taking out the supports. Will trade the morning hours of Monday with a bit of caution as the election results may play spoilsport.
NSE:BANKNIFTYLong
by viswaram
BankNifty levels - Dec 4, 2023Utilizing 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 weekly prediction for 6th Dec Expiryas we have already discussed Banknifty has given breakout. and yesterday it also had a consolidation i will not say it was a healthy one. but I was monthly expiry and rounded well for bulls. Now I am expecting it to move bullish whole this week. Target 1 will be 45561, then some consolidation and it will move to all time high 46250. Reasons: Price has already broken out 2 month breakout with Inverted HNS. (Bullish) RSI is in bullish zone crossing 60 to upside. (Bullish) Bullish Golden crossover successful. (Bullish) Inverted HNS breakout and successful retesting of neck-line. (Bullish) According to OI, PCR: 1.24 (Bullish) with max pain = 44900 or 45000. Bears is not having much of positions that bulls have to worried right now. Verdict: Strong Bullish Plan of action: Sell 44900 PE and Buy 43700 PE
NSE:BANKNIFTYLong
by finnova_
#Banknifty directions and levels for DEC 1st"Good morning, friends🌺! As of December 1st, the global market sentiment remains bullish, supported by the Dow Jones. However, our local market sentiment shows a moderately bullish trend. It might open with a gap-up, considering the GiftNifty value at +70. After that, if the market sustains the gap up or consolidates, then we can expect a rally continuation. On the other hand, if it doesn't sustain or if it rejects around the immediate resistance level, we can expect a correction of at least 38 to 78% in the minor swing."
NSE:BANKNIFTY
by Manickamtraders
Banknifty view for 30 Novemeber 2023Today's market had a clear direction in the first hour, but now the market is a little bit risky. Those who made money in the morning should opt out of trading entirely. However, the market might be sideways to bearish until 2 PM. Since today is the monthly expiry, its better to sell OTMs on a spike (44200 and 44700 with proper risk to reward). There can be a gamma burst at 44270 and 44450, which can be an excellent scalping opportunity. However, I will refrain from buying calls until 2 PM - we might get a short covering rally. I will be a spectator today selling far-away otms! Will only enter in case of a scalping opportunity.
NSE:BANKNIFTY
by pr0p
BankNifty levels - Dec 1, 2023Utilizing 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 NOV 30"Good morning, friends🌺! As of November 30th, the global market sentiment remains bullish, supported by the Dow Jones. However, our local market exhibits a significantly bullish trend. It might open with a neutral to a slight gap-down, considering the GiftNifty value at -10. Structurally, it appears to be a range-bound market. Even if it opens with a gap-up or gap-down, a minor correction of 23 to 38% can be expected. The rally will persist only if the market solidly breaks the immediate resistance level. This same sentiment applies to a bearish structure, indicating that a correction will occur only if it breaks the 38% Fibonacci level. Until then, we can anticipate the market remaining within a range."
NSE:BANKNIFTY
by Manickamtraders
29th Nov ’23 - BankNifty Outperforms & is now bullish 🐂🐂🐂BankNifty Analysis Recap from yesterday: “BankNifty has picked up decent momentum from 22nd Nov when it bounced from the 43253 support level. The next level to watch is 44063 and till that is not taken out, I wish to maintain my neutral stance. Once BankNifty also goes bullish, it will be a treat to watch as Nifty is already long.” 5mts chart link - click here The gap-up was right at the SR zone of 44063 and it helped BankNifty change its sentiment. For the initial 30mts, BN was a little hesitant to make its move but as it held out the support level - it may have gained the confidence of the bulls. Hope you got my tradingview minds update as I went long today. And yes, it was definitely a treat to watch as both BankNifty and Nifty were on the long side today. Even the NiftyIT also supported today which meant there was no stopping. BankNifty went on to gain another 569pts ~ 1.29% once it defended its support. The total gains today were 685pts ~ 1.56%. Between 14.45 to 15.10, it took out another resistance level at 44542, this came as a surprise to me as I thought the resistance may hold. Since tomorrow is the expiry day for both Nifty and BankNifty we may some action in 2nd half. 1hr chart link - click here See the encircled region on the 1hr TF, 15th & 16th November when we were still in that ascending channel. The news that broke ensured BankNifty fell, but see what happened - the rebound was much more powerful. Today’s 14.15 candle alone grabbed 268pts ~ 0.61% and most importantly helped BN close above this encircled region. My stance is bullish on BN with 44763 as the first target. Keep in mind, a strong resistance is coming up at 45399.
NSE:BANKNIFTYLong
by viswaram
FASP levels for Bank Nifty 30/11/2023The FASP for BankNifty is listed for 30-11-2023. 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
BankNifty levels - Nov 30, 2023Utilizing 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 NOV 29th"Good morning, friends🌺! As of November 29th, the global market sentiment remains bullish, as indicated by the Dow Jones. However, our local market shows a moderately bullish trend. It might open with a slight gap-up start, considering the GiftNifty value at +60. If the gap-up sustains, then we can expect a rally continuation with minor consolidation. On the other hand, if the gap-up doesn't sustain or if it sharply rejects around the immediate resistance level, then we can expect a correction, which may involve a minimum 23% to 38% Fibonacci correction. However, a proper reversal will only occur if it breaks the 38% level."
NSE:BANKNIFTY
by Manickamtraders
BankNifty Breakout prediction for today 29 Nov 23As we discussed yesterday, Banknifty moved to upside and took a retrace and again continue the bullish momentum. By looking the chart and OI data Banknifty is highly likely to move in the up direction. Reasons: BANKNIFTY break the range by making inverted HNS pattern. (Bullish) RSI has broken to upside and retraced. (Bullish) Price > EMAs (Bullish) EMAs golden crossover. (Bullish) PCR = 1.12 (Bullish) Verdict: Bullish Plan of action: Sell 43900 PE and Buy 44000 CE
NSE:BANKNIFTYLong
by finnova_