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Bnf

BANKNIFTY LONG SETUP ON 15 MINS CHARTWe posted about short setup but we also wanted to post about our long setup on BNF. If the wedge pattern fails and breakout happen above 200 EMA we can see some upside move for coming days. Price range of A and the distance between the Fibonacci 38.2% level on hourly charts from breakout of pattern is exactly same so we believe that could be the first target and if BNF sustains near the level we can set Fibonacci 50% on Hourly chart as our second target as mentioned in the chart. Trade at your own risk. Trade safe.
NSE:BANKNIFTYLong
by Trademint08
1
BankNifty - 15 April Expiry Trade setup BNF before the budget retraced up from 0.786 lvls of the last swing the next rally saw a retracement from 0.886 lvls of the last swing the fall to 0.886 lvls has been interesting - from a vertical rise after budget BNF was following a falling wedge pattern and did a break down from that and started following a descending triangle pattern. it broke down from that as well yesterday it tested back descending triangle pattern bottom Both the patterns lead to bullish set-ups but both failed ... It should give wild moves from here.. upside or downside is not known but wild strong moves could be seen this expiry NASDAQ is nearing its all-time high and US bond yields are cooling off - will this trigger wild bullish moves? or would increasing coronavirus cases act as a dampener The opening of BNF would tell about the day movement - if huge GAP UP - expect a bullish trending day if huge GAP DOWN - expect a bearish expiry if small GAP or GAP DOWN - expect a range-bound day Have marked some targets on charts - it's an expiry trade where premium decay would happen very fast. play with SL as per your risk appetite Happy Trading MSK
NSE:BANKNIFTY
by msk_analysis
Banknifty long setup on 15 mins chartBNF is under pressure due to lockdown and increase in COVID news. After a huge gap up, most of traders were long on trade under intention of recovery but BNF has hit all the stoploss. Before ending mondays session we can see some increase in size of green candles indicating that either there has been a profit booking session and we can see some later effect tomorrow. Using Fibonacci we can observe that BNF after a sharp fall is sustaining near 0.38% level. We expect that BNF can test 50% & 61.8% level in order to continue a healthy retracement. The gap diff between levels is still under a price of 250-350 points. Our first target will be 31100 at 59% level and 31250 near 61.8% level. Trade safe.
NSE:BANKNIFTYLong
by Trademint08
3
BANKNIFTY ON 15 MINS CHARTWe posted about bearish setup but what if market actually follow Other market sentiments and shows a bull run. Probably this would be our setup because price is sustaining at 38.2% level. Exactly the same situation that happened today at NIFTY50. After a good fall NIFTY50 had a correction till Fibonacci 50% but BNF is still sustaining near 38.2% level. If there some positive opening we can see BNF trading atleast near FIBONACCI 50% level & later 61.8% level. Plan your trade accordingly. Trade safe.
NSE:BANKNIFTYLong
by Trademint08
BANKNIFTY ON 15 MINS CHARTBNF SHORT SETUP Due to MONATARIUM news and lockdown news Indian stock market saw negative sentiments with high volatility. Banks were bleeding out & there was a panic selling at same time SL’s getting hit. Looking at the USA market(It affect our market) there has been a positive sentiment because of good job reports & fundings rounds. But that won’t really affect our market because it’s their job report. Now looking at some data available with FII selling we are bearish. CHART ANALYSIS BNF has been trading below 200 ma, indicating major trend as bearish. It has also formed a Bearish flag n pole pattern & also a bearish wedge pattern with retest. We believe BNF can be under bears control for upcoming days, plan your trade accordingly & trad safe.
NSE:BANKNIFTYShort
by Trademint08
1
BANKNIFTY ANALYSIS ON 15 MIN CHART.BNF has been trading in downward range market and it’s making LH LL pattern with price squeezing at the end if the range market. We also observed that every time BNF was making LH LL pattern the retracement on minor trend was from 50%, both the times (marked in red circle) so we believe BNF might gap down and sustain above the Demand zone, give us a reversal , retrace from 50% again in minor trend and end the day in range. If it breaks below the provided zone trade safe because that the area where we had really bullish movement because of BUDGET DAY WEEK.
NSE:BANKNIFTY
by Trademint08
4
BNF - next moves (cont.)It felt fulfilling to pick BNF moves in the last two ideas in this series. please refer to the related ideas part for the same after testing the unfilled GAP zone what are the possibilities? BNF may fill the GAP as it doesn't make sense to come so close to an unfilled GAP and don't fill it. once it fills the GAP, then it would be very near to 0.618 retracement from the top and last swing low. So it makes sense that it would test that as well. The big question would be - would it reverse from there or keep going down? I don't know my trade would be to play for that it will test 32750-32800 in the coming days Even if it shows some bullish moves today or indecisive behaviour, i would still stick to the above plan although with smaller positions. Everything is usually a hypothesis till certain conditions are met. If BNF breaks yesterday's high before falling to 32750-32800 zone, this hypothesis can be taken wrong and would be exiting positions How to trade for positional traders - selling future could be a better option, or selling 33700 CE can be an option. for day traders - sell on rise can be an option Happy Trading MSK
NSE:BANKNIFTY
by msk_analysis
Bank Nifty - Next MoveBNF is in a zone that is really hard to day trade. Tomorrow is Wednesday so premium decay would be a factor to consider if you are playing with option buying There can be two possibilities BNF makes a trending move downside towards 50 DMA. DMA are like magnetic lines that attract price towards it when they are near. Usually, it is also seen that patterns repeat for a given script. Last time when 20 DMA was broken and the price was nearing 50 DMA it formed an inside bar. Today also it formed an inside bar. so possibility is high it may break 50 DMA. Possible ways to trade - If trading in future sell on rise and 35250(Future price) as SL. The target can be 50 DMA . If trading in options - selling 35100 CE with SL as 35250 (future price). If buying options risky one - you may want to go for 34500 PE as 50 DMA is 34230, so if the hypothesis proves right this OTM option will become ITM and may fetch you max returns Another possibility - based on the below factors FIIs has bought heavily in the cash market.DII matched with selling. Fed meeting would be concluded after Indian trading hours. So it may happen that BNF remains range-bound. In that scenario, today's high and yesterday low may be taken as a range. Possible ways to trade- Selling strangle at BNF open price may be an option and keeping 25% as SL. Happy Trading MSK
NSE:BANKNIFTYShort
by msk_analysis
1
BNF - Flag formation in progress ? Expiry Trade setupBNF looks like trying to form a flag pattern. will it break out or break-down from there or will it consolidate - I don't know But - if its a flag formation higher time frame - inside a bar in the daily time frame, on the lower side in a channel . one thing can be safely concluded. play for long with channel break as a stop loss with US DOW futures showed some strength yesterday, it seems a GAP UP opening but I won't be surprised if this GAP UP gets bought into. My trade plan for this expiry would buy CE when BNF spot trading near support zone and SL exit them if it breaks support zone . The CE that I would buy will keep it till expiry or channel touch on the upper side There can be many more option strategies here but keeping it simple Thanks Happy Trading MSK
NSE:BANKNIFTYLong
by msk_analysis
1
Multiple Harmonic Pattern in Gold - Bullish There are multiple harmonic patterns in Gold, bullish ones SL and Target mentioned in the chart For ones who trade in gold may be a good opportunity For Traders who trade in the Indian index Nifty / Bank Nifty, they may take a cue from this as Gold and the Indian index are usually inversely proportional.i.e., if gold increases nifty decreases and vice versa Every analysis is a hypothesis based on certain conditions. If SL condition triggers - hypothesis would be deemed wrong Happy Trading MSK
TVC:GOLDLong
by msk_analysis