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BankNifty levels - Sep 10, 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 the 2nd Week of September#Bank Nifty Current View If the week starts negatively, we can expect a correctional target of at least 49894 to 49697 on the downside. In the meantime, consolidation may occur around the 50262 level (78%). In this case, the levels of 49894 (MDZ) and 49697 will act as key support zones. After the market reaches these levels, we could see a bounce of 23% to 28% in the current swing. This is our first scenario. Alternate Scenario If the correction finds rejection around the immediate support and breaks the 38% Fibonacci level in the minor swing, it could become a range-bound market, targeting between 50% and 78% in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
06 Sep 2024 BankNifty has fallen only 694pts, calling the bearsBankNifty Stance Neutral ➡️ BankNifty has lost only 694pts ~ 1.35% over the last week and interestingly 896pts drop came on Friday, 6th Sep. Our stance has been neutral for quite some time now and prefer to stay neutral until 49728 is not getting taken out. The daily candle of BN is quite different than Nifty. BN did not even retrace the top that it made on 4th July, whereas Nifty had gone past that level. Honestly, there is something that is bothering the banks. The news that the deposit growth is slowing could be one reason. My opinion is that our deposit rates are much higher and were raised much lower proportionately than in the US. At 6.5%, the repo rate is no longer attractive and is seducing the depositors to withdraw and park in riskier asset classes like Mutual funds. Then there is the news from what is happening in SEBI. The employees are protesting demanding better working conditions and obviously, the highlight is the corruption allegations of the SEBI Chief. The problem is that such allegations even if not true will impact the credibility of the Indian equity ecosystem, especially from a foreign investor point of view. If the allegations are true, then many companies will face the heat and among that, the biggest losers will be banks. Any company that has pledged its shares with the banks and if it is taken down, will drag the banks along with it. With dropping prices, the companies may face margin calls and banks will bear the heat. The main reason banks are reluctant to go up could be due to this reason. The first main support comes at 48947 and I hope we do not go there this week itself.
NSE:BANKNIFTY
by viswaram
BankNifty levels - Sep 09, 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 September 6th. Current view: BankNifty shares the same sentiment due to its range-bound structure. If the market opens with a gap-down, we can expect an immediate target of 51303. After reaching this level, if it consolidates or breaks solidly, the correction may continue toward lower levels, with a minimum target of 51206, extending down to the 78% Fibonacci level. That means we can expect the correction or next move only if it breaks the immediate support level. This is our first scenario. Alternate view: Alternatively, if the initial market pullback is strong, or if it rejects around the immediate support level, the range-bound market may continue. If this happens, we can expect a bounce back of 61% to 78% in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
BankNifty levels - Sep 06, 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 - Sep 05, 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 September 4th.Bank Nifty Current View: The sentiment is similar to Nifty; however, for Bank Nifty, it’s uncertain where it will open exactly, so I’m making an assumption. If the market opens with a long gap-down, it may find support around the 61% to 78% Fibonacci level. If this happens, we can expect a 23% to 38% minor bounce back. This bounce back could be part of a sub-wave 4, which is a consolidation wave. Once this consolidation breaks to the downside, we can expect the 5th correctional wave. This is our basic structure. Alternate View: The alternate view suggests that the market is currently in a range-bound phase, so it may try to maintain its range even if it opens with a long gap-down. If the market takes a solid pullback and breaks the 38% Fibonacci level in the minor swing, it will likely continue in the range-bound structure. This is our alternate variation.
NSE:BANKNIFTY
by Manickamtraders
3
Banknifty weekly expiry analysis for 04/09/2024.Banknifty has been lagging behind and is still 1500-1700 points lower from its all time high. The market in the final hour has given a nice upside rally and closed above the round number levels and the resistance zone. An engulfing candle is formed on the daily charts and tomorrow is weekly expiry in the index. If there is a gap up opening there are chances of it giving a nice upside rally. In case of a flat to slight gap down opening, a slaggishness can be seen as the makret is behaving now a days. Major support levels :- 51550, 51310 Resistance zone :- 51880, 52000, 52150 Banknifty has taken a good support from the Hourly 20 ema and given good upside move. If the move continues a trade can be initiated above the resistance zones. Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
BankNifty levels - Sep 04, 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 Trade Setup For 3 Sep 2024BANKNIFTY Intraday Trade Setup For 3 Sep 2024 Bullish-Above 51600 Invalid-Below 51490 T- 52000+ Bearish-Below 51250 Invalid-Above 51360 T- 50735 BANKNIFTY has closed on a flat note once again with slight gain of 0.17% gain today. Index is just sideways with spikes. Till now index has not gained momentum. It is just momentum less. VIX needs to rise above 15 or else it will become hell for directional traders. 51600 and 51250 are intraday levels for tomorrow. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 51600 then we will long for the target of 52k+. For selling we need a 15 Min candle close below 51250. T- 50735. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BankNifty levels - Sep 03, 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 Trade Setup For 2 Sep 2024BANKNIFTY Intraday Trade Setup For 2 Sep 2024 Bullish-Above 51470 Invalid-Below 51360 T- 51850 Bearish-Below 51250 Invalid-Above 51360 T- 50770 BANKNIFTY has closed on a slight bullish note with 0.82% gain today. After breakout of 50800 on 22 Aug , it was discussed that index is approaching 52k in the coming days. We have reached 51466 and rest can be gained this week. Overall index is volatile and sideways. Directional move with momentum is still void. 51470 and 51250 are intra levels for tomorrow. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 51470 then we will long for the target of 51850. For selling we need a 15 Min candle close below 51250. T- 50770. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
#Banknifty directions and level for September first week.Bank Nifty: Structurally, Bank Nifty differs from Nifty. However, if this week starts positively, we can expect it to reach at least the 78% Fibonacci level on the upside. in this case, > If the market takes time to reach that level, it may undergo a correction of 23% to 38% in the minor swing. This means if it reaches the 78% level gradually, it may lead to a minor correction. >On the other hand, if the market reaches that level solidly (78%), the rally will likely continue to the next supply zone (52,035). Alternate View: The alternate view suggests that if this week starts with a negative candle, then structurally, we can expect a range-bound market, which means a flat correction. In this case, if the market breaks the demand zone aggressively, it may reach a minimum of the 78% Fibonacci level down to the swing low in the minor swing.
NSE:BANKNIFTY
by Manickamtraders