BankNifty Analysis — Stance Bearish⬇️ “The power of a strong support/resistance zone will help you in your technical analysis” — Anonymous. See what happened today, BN started strong and was keeping its head above the 47465 support for a long time. Between 10.19 to 10.31, there was an attempt to break this SR, but it failed. BN reclaimed the 47700 levels and...
Good to buy CANBK @306-310 Stop Loss : 290 Targets : 320/340/360/400max+++ CANBK is taking good support from the trendline. Good breakout of Bearish trend in longer Timeframe. Thanks. Disclaimer: This idea is only for the Educational purpose. Trade at your own risk. If you like the idea kindly support.
Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “We are maintaining our bullish stance for tomorrow as well, but we are not expecting 22600 to be broken tomorrow.” 4mts chart It was another perfect day for the option sellers, mostly the short straddlers. Nifty struck a narrow range today and had no special adventures. Looking at how Nifty50 traded...
BankNifty Analysis - Stance Neutral ➡️ BankNifty is still stuck at the 47465 resistance level and this according to me was the primary reason why even Nifty could not find the upward thrust. There were 4 specific instances when BN tried to break the resistance and move up but all of them got rejected. This does not really mean that the Bulls are tired or out of...
BankNifty Analysis - Stance Neutral ➡️ BankNifty also gets a stance change today i.e. from bearish to neutral. All that is pending is to take out the 47465 resistance to go bullish. Most likely that should happen tomorrow and we are eagerly waiting to trade on another Saturday. BN closed the day with a gain of 1166 points ~ 2.53%. But unlike Nifty, BN is not near...
BankNifty Analysis - Stance Bearish ⬇️ There is no doubt that the stance on Banknifty is anything but bearish. Even though we started quite okay, we quickly gave up the gains. After 10.23 the intensity of selling was quite strong. And once we came back to the bearish channel the depth of the RED candles kept on increasing. Banks were the first to react to the bad...
BankNifty Analysis - Stance Bullish ⬆️ Although BankNifty created a double top (M pattern) on the 4 mts time frame today, the stance is still bullish. The reason we did not change the stance for BN even though we downgraded N50 was that BN did not even test the support level today. Despite the selling pressure on all other counters, the Banks did not attempt to...
Good Bullish Breakout with High Volume And Retest the Breakout Area Formed the N pattern Enter at 260-265 Can expect 15-20 percent return
BankNifty Analysis - Stance Neutral ➡️ Is BankNifty bearish? - absolutely not. Is it bullish? It's too early to say. One thing is sure - there is some weakness impacting the banks. Are the unsecured loans haunting them? None of the balance sheets from the quarterly results are bleeding - but something is still bothering them. Today was a fine day for the banks to...
No recommendation for buy and sell Chart have breakout Volume building giving confidence to get upside move
BankNifty Analysis - Stance Neutral ➡️ Strange-looking 1st and 2nd candles and then a flat price action all through the day. It is quite commendable that Nifty’s bearish ghosts did not haunt BankNifty today. Even though we closed just below the SR zone of 45399 - the price action did not give a clear clue if it was bearish or bullish. 4mts chart Maybe...
BankNifty Analysis - Stance Bearish ⬇️ The unusualness of the last 30mts was more obvious in the Banks - HDFC, ICICI, AXIS and Kotak. Seems a news/event is brewing and we may get some clarity in the coming days. The good thing is that it broke out pretty late in the day, which meant the expiry was not totally screwed. 4mts chart How many Analysts you know are...
BankNifty Analysis - Stance Bearish ⬇️ The stance for BankNifty was bearish yesterday and it is still bearish today. The highs and lows of today were more or less matching with the levels of yesterday. Visually the price action is more negative than yesterday, the reason being the highs hit today were due to gap-up whereas yesterday’s high was via fighting it out...
BankNifty Analysis - Stance Bearish ⬇️ What happened with BankNifty today was more or less as per the script. The opening 4mts gave us some idea of what to expect, the reason being the bounce from 45399 support. Even though the opening was gap-down, adequate selling pressure was not there to take out the support level. Ideally, it had to be taken out via the gap...
BankNifty Weekly Analysis Between the last expiry and today, BankNifty has fallen 1274 points ~ -2.69%. It may not look so dangerous, but keep in mind we had a swing range of 2328pts ~ 4.82% between the high to the low of the week. Of these 2328pts, 2060pts ~ 88.4% came just today. 16mts chart BankNifty Analysis - Stance Bearish ⬇️ We opened 1423pts ~ -2.96%...
BankNifty Weekly Expiry Analysis Between the last expiry and today, BN fell 383pts and most importantly breached a support level (47539). Even though the start of the week was good, the bulls gave away the control to the bears by Friday. 16mts chart link BankNifty Today Analysis - Stance Bearish ⬇️ Unlike Nifty50, BankNifty did not have a strong pullback...
BankNifty Analysis - Stance Bearish ⬇️ BankNifty was more sensible today. Firstly the gap-up was not so huge to scare away the bears - so they hung around. Secondly, there was no breakaway momentum, by 11.07 things were getting pretty clear that the upmove ran out of steam. 4mts chart link And when the selling came, it was ferocious. Bears also had to make...
The Stock has given a beautiful breakout and is about to retest it levels and give a good confirmation to enter in this stock, targets are huge as per my analysis. Targets are 100,124,145 respectively Only for Educational Purpose Do your own research