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Nifty & Bank Nifty Analysis: Mixed Signals in the Final MinutesIn the last 30 minutes of yesterday's trading session, we saw a significant volume spurt in both NSE:NIFTY and NSE:BANKNIFTY , yet prices remained within a tight range. While NSE:NIFTY was trying to hold its ground with buyers stepping in, NSE:BANKNIFTY faced notable selling pressure. This divergence could be key in predicting tomorrow’s market movement. NSE:NIFTY managed to stay steady despite the volatility, suggesting that investors are cautiously optimistic about its prospects. The increase in volume without a substantial price change indicates a tug-of-war between bulls and bears. If NSE:NIFTY manages to break above its immediate resistance, we could see a bullish move. However, if it fails to maintain its support, a pullback could be on the cards. NSE:BANKNIFTY , however, showed visible selling in the final minutes, highlighting a lack of confidence in the banking sector. This selling pressure, coupled with the tight range, suggests that traders are uncertain about the near-term outlook. If NSE:BANKNIFTY breaks below its current support level, it could signal further downside risk. On the other hand, a recovery above resistance could reignite buying interest. What to Watch Tomorrow: With both indices ending the day in a tight range but showing different momentum, tomorrow's session could be pivotal. Watch for a breakout in NSE:NIFTY to confirm a bullish bias or a breakdown in NSE:BANKNIFTY to signal potential weakness. Global cues and overnight economic data will also play a crucial role in shaping market sentiment. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Market conditions are subject to change, and past performance is not indicative of future results. Always conduct your own research or consult with a professional before making any trading decisions.
NSE:BANKNIFTY
by Stable_Logic
Weekly Market Forecast: Nifty & Bank Nifty Set for Major Moves!Nifty and Bank Nifty are poised for a strong upside move if they break their respective resistance. Nifty Resistance : 25300 - 25500 , Above this should open doors for 25800-26200 levels soon!! If Nifty does not clear 25500 then it will be considered as double top pattern. Currently Nifty is also showing negative divergence in daily chart. Bank Nifty has given a trendline breakout, looking for a strong movement above its resistance zone 51400 -51700, above this it will try and test previous ATH levels. if fails then should see 50990-50500 levels again.
NSE:BANKNIFTYLong
by Nimble_Pesos
BankNifty levels - Sep 02, 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 August 30th.Banknifty Current View: There is currently a range-bound market. Structurally, the market will take its next direction when it breaks either to the upside or downside. > In this scenario, if the market breaks to the upside solidly or with potential volume, the rally will likely continue with some minor consolidation around the level of 51,519 to 51,563. On the other hand, if it breaks the range gradually, it might not go much further and could potentially re-enter the range once again. Alternate variation In the alternate scenario, if the market initially declines, the range-bound behavior is likely to persist. A more significant correction would only occur if the market aggressively breaks the previous low. However, if the bottom is breached gradually, the market may find support around the demand zone and re-enter the range, maintaining its current pattern.
NSE:BANKNIFTY
by Manickamtraders
BankNifty levels - Aug 30, 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 - Aug 29, 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 Support & Resistance Levels for 28.08.2024On Tuesday, BankNifty opened with a gap up, dipped to a low of 50938.10, touching the 15-minute demand zone mentioned in the previous post, and then bounced back to a high of 51404.70. However, due to selling pressure in the last trading hour, it closed at 51278.75. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Far Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Resistance Levels: Near Resistance Level: 51316 (61.8% FIBO Retracement level) Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Already Tested) Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BankNifty levels - Aug 28, 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 - Aug 27, 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 August 26th.Bank Nifty > In the previous session, Bank Nifty also closed with a consolidation structure. > SO, If the gap-up sustains and breaks the consolidation, it could reach a minimum of 51,214 or the 61% Fibonacci level. > The structure is also important here; if it breaks the consolidation with a solid candle, the rally will likely continue with some consolidation. On the other hand, if it moves gradually, it may not have a long rally. > An alternative scenario is similar to Nifty: if the gap-up doesn't sustain or if the market declines initially, then the 38% Fibonacci level will act as support. In this case, after the decline, if it finds support at the 38% level, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 50% level or swing low on the downside.
NSE:BANKNIFTY
by Manickamtraders
#Banknifty Directions and Levels for August Last Week.Bank Nifty Bank Nifty had a significant swing, but it looks like a range-bound market. My expectation for this week is a sharp and long rally. that's If the market sustains around the 61% Fibonacci level, then it could reach a minimum of 51,563 and potentially up to the 78% level. This is our primary scenario. Alternate Variation: The alternate scenario is similar to Nifty because of the range-bound structure. so, If the market breaks below the 38% Fibonacci level on the downside, then the range-bound market will likely continue. However, if it doesn’t break below the 38% level, we can expect consolidation between the previous high and the downside 38% level.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 26.08.2024On Friday, BankNifty reached a high of 51117.85 but retraced to close at 50933.45. Despite breaking above the 75m supply zone, BankNifty closed inside the zone. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. The demand and supply zones are unchanged from the previous post. Support Levels: Near Demand/Support Zone (30m): 50393 - 50507 Near Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797 Far Support Level: 49660 (Double bottom on the daily chart) Resistance Levels: Near Small Supply/Resistance Zone (75m): 50915 - 51018 (current price is inside the zone) Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
NSE:BANKNIFTY
by PriteshPal
BankNifty levels - Aug 26, 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 August 23.Bank Nifty > In the previous session, Bank Nifty closed around the previous high. Structurally, it looks like a range-bound market, > so my expectation is that if the market pulls back initially, it could reach a minimum of 51,116 (supply zone). After that, if the market sustains or breaks this level, then the rally will likely continue to the level of 51,214 to 51,316. > On the other hand, if it rejects sharply around the supply zone, then the range-bound market will likely continue, meaning the market may travel within the channel. > An alternative scenario is similar to Nifty. If the market declines initially, then the 38% Fibonacci level will act as support. In this case, after the decline, if it finds support at the 38% level, the bullish bias is likely to continue. However, if it breaks the 38% level, it may fall further to the 50% to 78% level on the downside.
NSE:BANKNIFTY
by Manickamtraders
BankNifty levels - Aug 23, 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 level for August 22nd.Bank Nifty Bank Nifty has a range-bound structure, so structurally, the probability is that the range will continue. that's, If the gap-up doesn't sustain, we can expect a correction of 38% to 78%. after that, If it finds support at the 78% level, it may bounce back. On the other hand, if it consolidates or breaks the 78% level, we can expect the next target to be the swing low at 50145. The alternate scenario is similar to Nifty. that's, If the gap-up sustains and breaks the level of 50877, the rally will likely continue, and we can expect the next target to be at least the swing high of 51116.
NSE:BANKNIFTY
by Manickamtraders
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