Quarterly Analysis of BankNifty — 31 Mar 2023 to 28 Jun 2023
Banknify gained an impressive 4412pts ~ 11.05% in Q1 FY2023–24. During this process it took out 11 crucial resistance points to finish at the ATH. The upmove was quite strong till 15th May after which BN started trading sideways. Status quo changed on 27th when it broke through the final resistance point...
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 June 28th, the global market is showing a positive start with bullish market sentiment. It might open with a gap-up. After that, if it rejects the immediate resistance zone, we can expect a minor correction for rally continuation. Alternatively, if the correction breaks the Fib level of 38%, it might turn the range market into a correction."
Today will be gap up opening in BANKNIFTY . After opening if banknifty sustain above 44050 level then possible upside rally of 400-500 points upto 44450 Level. And this rally can extend for another 400 points if it gives breakout of 44550 level. Any Major downside only expected in case banknifty starts trading below 43950 level.
BN opened at 43804 and then had a flattish price move till 13.00 after which it propelled forward like a rocket. Interestingly Finnifty's chart (which we will discuss shortly) had more thrust compared to BN & N50.
The 470 pts rally we had from 13.05 to close was nothing short of remarkable. Initially the momentum was slow, but as soon as the short covering...
Observe where the day opens tomorrow. Price action should be watched, and a decision taken accordingly.
Will try and give some live market updates.
Keep following to understand the significance of these lines drawn and how and why these lines are very important.
Please go through the previous charts and check the price action and how these lines responded vis a...
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...
Chart show trapping for sellers
It is creating confusion to hunt stop losses.
If you just watch closely, you will notice a sharp move will hunt the SL's above the trend line if price has to fall it will not fall easily, it will trap sellers too.
direction is still dicey, small scalp trade set up would be a wise thing to do
Do not sell near Trendline, it most...
"Good morning! As of June 27th, The global market is showing a neutral to a slightly positive start with a moderately bearish market sentiment. There is a possibility of a slight gap-up opening. If the market experiences a pullback afterward, we can expect a minor pullback to reach the immediate resistance zone. If the market turns around there, we can anticipate...
Let's see how the day opens tomorrow. Price action should be watched, and a decision taken accordingly.
Will try and give some live market updates.
Keep following to understand the significance of these lines drawn and how and why these lines are very important.
Please go through the previous charts and check the price action and how these lines responded vis a...
Let's see how the day opens tomorrow. Price action should be watched, and a decision taken accordingly.
Will try and give some live market updates.
Keep following to understand the significance of these lines drawn and how and why these lines are very important.
Please go through the previous charts and check the price action and how these lines responded vis a...
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 is creating trap & it looks side ways to bullish as yet
Considering current price action,it will create a trap for sellers most likely & hunt stop losses
With calculated risk we can get a target of next resistance,
Now do not simple enter at support unless you see price showing any kind of reversal or consolidation and then breakout on upside
It would be very interesting to observe what happens when
1. Price opens within the range marked of Red, Blue and Green Lines.
2. Price opens below / above the range but within the range of the previous day
3. When there is a Gap up and Gap down opening.
If You are studying the charts in lower Time frames and observing price action, Let me know in comments your...
It would be very interesting to observe what happens when
1. Price opens within the range marked of Red, Blue and Green Lines.
2. Price opens below / above the range but within the range of the previous day
3. When there is a Gap up and Gap down opening.
If You are studying the charts in lower Time frames and observing price action, Let me know in comments your...
Aready three times rejected from 44000 levels , as you can see a big pattern support
downside, if banknifty breaks down this support then it may easily 43300.
upside trend is still pretty much at distance , if price goes above 43779 , then it may face
powerful resisdtance , follow C2C asap asnd trail SL, do not leave open position without SL to upside trades.,
Banknifty Prediction for Tomorrow:
BULLISH Reversal
BNF likely to open small gap down, and further bearish move can be expected until 43400-43300 level. 43300 is where might expect strong BULLISH reversal towards 44000 & 44500 this week.
Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become...
Banknifty making 4 different pattern at same time
1. Flag pattern
2. Rectangle pattern
3. Parallel channel
4. NR7 (narrow range)
Everyone is waiting for breakout or breakdown in banknifty. Now wait & watch in banknifty for big & fast move upper level - 44511 lower Level - 45322. Trade with stop loss thanks
![BANKNIFTY: [INTRADAY] #BANKNIFTY PE & CE Levels(28/06/2023)](https://s3.tradingview.com/7/7RlRY2Sj_mid.png "[INTRADAY] #BANKNIFTY PE & CE Levels(28/06/2023)")
