I am a student of the Market. I am studying EW Indicator. So You know that I am not a pro trader. I like to publish my IDEA about BANKNIFTY . It is a possibility of a Down move in BANKNIFTY or Maybe not...!!? Let's See what happens.....
Since last two weeks the bank nifty has been consolidated about 5%. with the immediate supports at 43850 and 43600 and resistance @ 44450 this week expiry will be deciding the banks movement on consolidation or breaking the trend. On any break of the immediate levels there could be huge upward or downward movement of 800 points.
Banknifty also made a decent recovery after the 482pts ~ 1.09% fall in the opening 20mts. It retraced 433pts by 15.00. And then fell a little to close out with only 0.2% losses @ 44090. Even though the recovery was good, it was not as dramatic as Nifty50. And we are back at an important support/resistance level of 44068. So bank nifty has retested its old SR...
BankNifty important Intraday levels to watch are as follows Expectations: Trending Day #Support: 44120 Sell below:44120 only on 15 minute candle closure below the level. Target 1: 44020 Target 2: 44890 #Resistance: 44265 Buy Above: 44330- 44265 only on 15 minute candle closure Above the level aggressive buy above supply zone. No fresh positions to be...
"Good morning! As of August 14th, the global market sentiment is neutral to slightly negative (based on the Dow Jones alone), There is no significant difference from the last session. While the market trend is bearish. Therefore, there might be a start with a minor gap-down. After that, if the market takes a pullback around the immediate support zone, we can...
Banknnifty can see correction of 1800 points after correction. Which means if on monday 14th 2023. If banknifty remains in red. It would be a game changer. Global clues and RBI's recent unchanged repo rate may have seen negative reaction in the market. I'll take a bearish spread position in options.
As you can see here that bollinger bands are in squeeze mode, and price after rejection from median line (Orange), taking support at standard deviation two (Red), if price goes below standard deviation two , you may see a burst in bollinger bands and price will go much lower side achieving all targets given by me. 44624 is a strong resistance if price trying to...
Banknifty has started trading below the previous swing low and closed below it. Volume are getting low on the weekly charts and it is near to the 20 EMA, there are chance of market testing the moving average. On the daily charts, banknifty has formed a bearish candle and after retesting 50% levels it has started trading below the swing. There is a bearish trend...
Sell BankNifty below 44100 for the marked targets on the chart. To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
Two pattern coincidences on daily chart :- First one head & shoulder breakdown, but I will wait for one more day for confirmation. ( This will happen after retest confirmation at 44520-44500 level). Second pattern Cup & Handle pattern which is yet to breakdown & retest again at 44200 level. Both pattern above gives target of 42650 level. But yes I will wait for...
Flag & Pole pattern breakout on Hourly Chart. SL & Tgt is marked on Chart. Tgt is expected in 7-10 days.
Banks were just continuing the trend from yesterday. The first candle saw a swing of 247pts ~ 0.56%. From there they were holding it steady till 12.40. Something interesting happened at the 13.00 candle which was a strong green of 128pts. HDFCBK, ICICI, SBIN, AXIS all were shooting up. What happened right after that was a super spike in RELIANCE (up 1.38%...
BankNifty important Intraday levels to watch are as follows Expectations: Trending Day #Support: 44420 Sell below: 44420 only on 15 minute candle closure below the level. Target 1: 44230 Target 2: 44050 #Resistance: 44605 Buy Above: 44605 only on 15 minute candle closure Above the level agressive buy above supply zone. Target 1: 44820 Target 2:...
Banknifty Idea #Current Price- 44544 #Resistance- 44603 #Support- 44490 #Target 44727, 44830 And 44922 we can expect after a break of Resistance #Target 44410 And 44315 we can expect after a break of Support #Execution only after break and close above or below from resistance or support 15-minute candle. #Stop Loss above or below from resistance or support...
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...
"Good morning! As of August 11th, the global market sentiment is neutral to slightly negative (based on the Dow Jones alone), while the market trend is moderately bearish. Therefore, there might be a start with a minor gap-down. After that, if the market takes a pullback around the immediate support zone, we can expect a minimum 38% pullback. or if it breaks...
Banknifty from the first hour was looking weak and whole day traded lower than nifty. It has given a red candle and closed 340 points lower forming a doji. Still banknifty respected the previous swing but has started closing below previous day closing range. This week till now has given more of losses as there is no clear trend in the market. In the second...
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...