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AU BANK - This Range is No Joke !Please pay attention to the range 695 to 755 If there is reakout or breakdown then consider trading that side, also keep boosting or liking this so that I am reminded to trade the same too ! Honestly, In my opinion there is a great accumulation or distribution happening (I cant figure out between the two) but I surely know that this is the preparation for a trending move 100%. Keep watching this script and believe me, I've seen these a lot of times.
NSE:AUBANK
by piyushbafna000
SURYODAY SMALL FIN BANK BY KRS ChartsDate:23rd Aug 2024 Time: 9:26 AM WHY SURYODAY❓❓ 1. All overview, Stock was in Consolidation for long time since listed and in Jun 22 it made lowest low , after that it is in continues HH HL pattern. 2. Wave Count is visible perfectly and it is in 3rd leg of 5th wave as we can see in above chart. 3. 100 Ema is right underneath in Hourly and Daily TFs 4. Today it has broken the resistance of Flag pattern and likely to sustain above it. 5. In bigger picture, Suryoday is making Upside channeling
NSE:SURYODAYLong
by KRSCharts
Bank Nifty Levels and Technical Analysis- Bank Nifty is currently trading at 53,043 as of today and is down by 1.5% - Bank nifty took out buy-side liquidity and trapped many buyers but at the same time the market structure looks intact and bullish - Bank has a huge displacement around 52,000-54,000 - Bank Nifty might move after filling the Bullish Fair Value gap which is lying around 52,300-52,600 - Bank Nifty can make another higher high post that so be cautious and wait for the price delivery to purge your point of interest
NSE:BANKNIFTYLong
by VKtradesimbalance
ICICI Prudential Life Insurance Company Limited (ICICIPRULI) Overview ICICI Prudential Life Insurance Company Limited (NSE: ICICIPRULI) is currently navigating through an ascending channel, as shown in the 3-hour chart. It’s like watching a circus performer carefully walk a tightrope – thrilling, but you never know which way it will go! Technical Pattern: Ascending Channel The price action of ICICIPRULI has been steadily climbing within the confines of an ascending channel. This pattern is characterized by higher highs and higher lows, creating a channel where the price is currently dancing near the upper boundary. Channel Resistance: The upper boundary, currently acting as resistance, is approximately near ₹770-₹775. Channel Support: The lower boundary, providing support, is hovering around ₹735-₹740. Current Price: ₹768.00 (as of the last candle close) Volume: 97.709K – indicating moderate trading activity, almost like the audience holding their breath as they watch the performer’s next move. Price Action Analysis ICICIPRULI’s price has recently tested the upper boundary of the ascending channel, but couldn’t muster the strength to break out. This is like trying to reach the top shelf without a stool – so close, yet so far! The price has pulled back slightly, hinting at a potential consolidation before the next big move. What to Watch For Breakout or Breakdown?: The key question is whether ICICIPRULI will break above the channel's resistance or succumb to the support line. A breakout could lead to a bullish run, while a breakdown might see the stock tumble towards lower levels. Volume Confirmation: Watch the volume closely. A breakout with strong volume could confirm the move. On the other hand, if the price breaks down with increased volume, it could signal a bearish shift. RSI and Other Indicators: Keep an eye on RSI and other momentum indicators to gauge the strength of the current trend. Possible Scenarios Bullish Scenario: If ICICIPRULI breaks above the channel resistance with significant volume, it could head towards the next resistance levels around ₹800-₹810. Bearish Scenario: If the stock fails to hold the channel support and breaks down, we could see a pullback towards ₹735 or even lower. Conclusion ICICI Prudential Life Insurance Company Limited is at a critical juncture, much like that tightrope walker deciding whether to step forward or retreat. While the ascending channel provides a structured path, the real question is – will the stock perform a grand finale with a breakout, or take a cautious step back? Stay tuned, and remember to enjoy the show while keeping an eye on those risk management strategies!
NSE:ICICIPRULI
by TRADING-NASA
Banknifty weekly expiry analysis for 07/02/24.Banknifty is consolidating in a range for last two trading session and chances are of a trending market on the expiry. Vix is trading around 15, if it increases there will be another sideways market, else there can be a trend market if the Vix cools off. Still, it is taking rejection from the 20 ema on the hourly charts, even the closing is below it. In case of a gap down opening, bearish trend can be capture upto the support zone. If there is a gap up opening, there will be confusion in the market and the expiry may remain silent. Major bearish targets :- 45300, 4500 Enter the bearish move only when the market sustains below 45560 and shows some negative price action. It has been respecting a trend line and taking rejection from it. Bullish entries should be avoided until markets start trading above 46500 level. Resistance :- 46040, 46550 Wait for the price action near the levels before entering the market.
NSE:BANKNIFTY
by Mambotrade
J&KBANK - Reverse Head and Shoulders PatternJammu and Kashmir Bank (J&K Bank) is a Scheduled Commercial Bank and one of the oldest private sector Bank in India, incorporated in 1938. The Jammu & Kashmir Bank Limited offers a range of products and services such as loans, insurance, tax products/planning, savings and deposits, cards, mutual funds and non-resident banking. Financials: TTM EPS: 13.10 TTM PE: 5.16 P/B: 1.01 Face Value: 1 Mkt Cap (Rs. Cr.): 6,977 Sector PE: 24.03 Book Value Per Share: 66.86 Positives: Company with high TTM EPS Growth Strong Annual EPS Growth Good quarterly growth in the recent results Efficient in managing Assets to generate Profits - ROA improving since last 2 year Growth in Quarterly Net Profit with increasing Profit Margin (YoY) Company with Low Debt Increasing Revenue every Quarter for the past 4 Quarters Annual Net Profits improving for last 2 years Company with Zero Promoter Pledge Negatives: Red Flag: High Interest Payments Compared to Earnings Decline in Net Profit with falling Profit Margin (QoQ) My Opinion: Just like my conviction in PSU Banks, I believe J&K Bank will also give good returns in the coming years. NOT A RECOMMENDATION. JUST FOR EDUCATION. Thanks.
NSE:J_KBANKLong
by babutaaniket
08 Jan ’24 — BankNifty breaks the 47539 support - stance bearishBankNifty Analysis - Stance Bearish ⬇️ The chart of BankNifty was more dramatic and powerful. The total swing range was 765pts ~ 1.59%. The support of 47539 was broken only at 14.31 and there was not much time left for the next leg of fall today. 4mts chart link What BankNifty and Nifty have done in January was to take out the stop loss twice. Last week we saw some strong fight back and they managed to get the stance changed from bearish to neutral. And today the tables have turned and the chart looks bearish. BankNifty has walked ahead of Nifty because it has already broken the ascending channel - so the break of support today should give it some more thrust. 63mts chart link The support is only broken on the lower TF, we ran out of time for further action today. This means that the forenoon session will be quite critical tomorrow. If the bears can hold the banks below the 47539 levels - we could see some action picking up. The options flow also indicated an immense short buildup for the CALLS - which may be indicating tiredness in the uptrend. Our stance for tomorrow is bearish.
NSE:BANKNIFTYShort
by viswaram
02 Jan ’24 — BankNifty below the channel, Bears taking control?BankNifty Analysis - Stance Bearish All checkboxes ticked for a bearish trend reversal. Firstly, we got confirmation when we breached the ascending channel bottom line. Secondly, there was no attempt to retrace once we started falling. The low of the day was hit towards the end of session. 4mts chart link - click here BankNifty has been the torchbearer for the trend reversals. Of late we were worried that the baton may be passed on to NiftyIT. The leader earlier and now is still BankNifty - today’s move was quite indicative of that. If it goes as per the script, we should be seeing further followthrough by Nifty & FinNifty tomorrow. 63mts chart link - click here The last time we tried to breach the channel bottom line was on 21st Dec. It ended up as a trap for the bears. This time around, we have 6 candles created below the bottom line, and 5 of them in RED. Hope is not a keyword, but the bears have to cling to something to create momentum. We have anyway revised the stance to bearish with the first target being 47462 followed by 46939.
NSE:BANKNIFTYShort
by viswaram
21st Dec ’23 - BankNifty leads from the front, stance is NEUTRALBankNifty Analysis I initially thought the wolf in the sheep’s costume was NiftyIT today spoiling the fun of the Bears. The real culprit was BankNifty - the way it defended its turf today was more than amazing. Even though we had a lower opening, HDFCBANK was staying strong at one end. You know pretty well that HDFCBK alone can drive up/down the index as its weight on the index is manipulatively sizeable. 4mts chart link - click here Just like a Tug-of-War, HDFCBK was at the rear end acting as the anchor. It bolted itself to the ground and ensured BN was not slipping. Somehow it worked. The first thing BN did was to retest the lower end of the ascending channel i.e. between 10.07 to 10.55. Once it broke out - it retested the same line from a support perspective i.e. b/w 13.55 to 14.11. The 2nd test was rejected which gave it massive momentum to break free (upside). The next stop was right at the top end of the channel i.e. b/w 14.47 to 15.19. You might have to see the encircled portion in the chart to know what I am referring to. 63mts chart link - click here Can you believe - All the candles today were GREEN. We started at the lower end of the channel and ended at the top boundary stopped only by the bell. Today’s price action almost nullified yesterday’s move and seeing the way BN fought back, I wish to change my stance to neutral for tomorrow. Will go bearish once 47400 gives away and will go bullish if the ATM is taken out. The options premium did not have any excesses today indicating that a big move may not be expected - will update you via TV minds if I see something interesting tomorrow.
NSE:BANKNIFTY
by viswaram
26th Oct ’23 - BankNifty retests the levels seen on 11 Nov 2022BankNifty Weekly Expiry Analysis BankNifty had 1 extra in this week as the last expiry was on Wednesday. But the extra day was cut short as we had a scheduled holiday (Dussehra) in between. BankNifty did not fall as much as Nifty, it fell only 3.64% ~ 1597pts compared to 3.9% on Nifty. The premiums on the option strikes were not good enough except today. But I am quite sure BankNifty has already done its part by leading this trend reversal well ahead. BankNifty Today Analysis There were 2 interesting patterns in the chart today. Firstly we did not open as badly as Nifty, we were only 0.31% ~ 131pts gap-down. Secondly, the percentage fall on BankNifty was well below Nifty50 for most of the duration today. After the gap-down open we fell another 599pts ~ 1.40% before gaining support and then retracing 262pts ~ 0.62%. Only between 11.10 to 11.45 the percent fall was much greater than Nifty50. What that means is BankNifty was showing reluctance to fall and even when it did - it managed to crawl back up. I am not suggesting a bottom is in place - but the bears are not as strong on BN as they are on N50. A look at the daily chart will help you solve that confusion. The next marked support in my chart is 41624 which is 656pts below today’s closing. We might need a strong red candle to get there - this may help push the momentum for the bears. According to me the cuts in BankNifty has to exceed the cuts in Nifty more than the weightage it exerts - only then a strong downward trend will materialize. If you look at the levels today, we have retouched the zones of 17 Apr 2023, 25 Jan 2023, 22 Dec 2022, 11 Nov 2022. When 42280 was first hit on 11/11/2022 - it was a new all-time high that day. I would like to maintain my bearish stance and expect BN to trade between 42576 and 41624 for tomorrow.
NSE:BANKNIFTYShort
by viswaram