Strong Levels for Bank Nifty Spot to Trade on 02 May 2022
We can see noticeable RSI divergence on a higher timeframe 1 HR, Momentum is picking up but Banknifty is going down, this can be a good long trade, Good bullish RSI divergence is seen on charts, And Banknifty is at a good support level and also at a previous breakout level as well, and Banking stocks if we see and analyze then banking stocks haven't really...
BN has good open interest buildup hence targets of 37680 / 37700 possible intraday. Please note these are spot levels.
A Head and Shoulders pattern is used in technical analysis which occurs when a massive reversal in the ongoing trend in the market happens occurs. The chart pattern of Head and Shoulders is marked by three successive peaks: Original Trend of BNF - bullish The Left Peak or the left shoulder The Centre Peak or the head The Right peak or the right...
BNF formed equal Highs and above which we have a GAP need to be filled, hence we an expect price to fill the gap first then downfall or price just retrace little bit and continue to go up. Look for LTF BOS before taking any trades
If Nifty opens above purple line NIFTY can buy when it touch purple line 16420 with target of 1:2 ratio, SL is when 1hour candle closes below purple line. if Nifty opens below purple line 16420 Then go for PE with target of 1:2, SL -1hr candle should close above purple line.
BNF trading in range, any side break out / breakdown will lead move upto the height of this box further
today bank nifty touched 61.8 fib level and closed we may expect bearish opening and start bullish again after mitigating breaker block.. It may go ranging also considering SMS in both sides..i have given several options here but all are probablities anything can happen.... Look for LTF BOS before taking any trades
Exactly as planned in previous bnf analysis After the completion of W fall of market as expected
Like you can see the chart sbi break its day high and now retesting on its fib retrecemnt level so we can expext 1st target on1.2 retracement level,second at 1.14 retracement level and third at 1.618 level prefer to book profit and of you want to ride bnf rally you should puut your sl ctc and trail. we can play in options NOT SEBI REGISTERED
Expecting good gap up in BNF as ICICIBANK has given wonderful results. If BNF sustains above 37960/38000, we can see more upside in Intraday If support level of 37480 breaks we can see good downfall in BNF Future, supports are mentioned in the chart
Market Closed with semi formation for H&S / Quasimodo in H1, we can expect the GAP down opening considering H&S in H1. to add, bnf broken the daily swing high recently we yet to have proper retracement , so my expectation is price will either tap the H1 BB or H1 Demand level then shoots up.. Disclaimer : this is the one side of viewing market based on past price...
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Banknifty has been trading in ascending channel on hourly chart. If we look at the major trend, banknifty is still in bearish trend. We also checked the retracement levels using Fibonacci retracement as mentioned on chart with dotted lines. 3 scenarios can be happening tomorrow either GAP UP, GAP DOWN or Same as next days closing. If we open gap up we will surely...
Price just broken the daily resistance level, we could expect some pull backs, from there we can buy till price reach the H1 bearish OB inside the Daily BB, or price can open Gap up by breaking 50% fib level from there it can directly reverse by mitigating H1 bearish OB.. My long term bias for the bank nifty is still bearish as price about to reach the daily premium level
even though my HTF bias is sells, i'm looking for retracement buys in bank nifty, at least till Daily supply level around Fib 50% level..Let see, look for LTF BOS before taking any trades
HTF bias for Bank nifty is still bearish, hence i expect once again bear run tomorrow... if we have Gap up opening - then we can expect price to react at H1 Supply from there we can look for SELLS - if price broke H1 Supply we can look for counter trend buys from H1 block though its a risky one (as price will be in...
Today bank nifty created the inside bar candle and didn't break the previous day low, although we had bear run, price showed some rejection at H1 BB. we might have either side way bull market or some bull run until it reach the Daily FVG/ GAP.