Overview: Banknifty gapped up significantly and continued trading above our resistance levels after a breakout of 35520 levels. We saw a very good upside move which propelled the index to 35710 levels. So we can expect some really good moves tomorrow depending on if we sustain above the resistance levels. Banknifty resistance level: 35797/36009 If we open...
Overview: Banknifty gapped up above the triangle pattern tested 35265 levels but was holding onto it when later there was a profit booking seen in both the indices and it took support on lower triangle bar. So as expected it was a volatile day with the market making wild moves and taking support at lower levels. Again the range is the same as yesterday and...
Hello Friends Please find this Banknifty 2 Hours candle view. BNF on 7 times support channel seems its ready to fly!!
12th July 2021 Analysis: Overview: Banknifty trading in a tight zone as of now, new levels have been updated with the current volatility in the market. Either it's a correction or a trend reversal. It's yet to be seen so we can have a view of not going on the long side as long as we are below 35520 levels. Once we are above then only look to buy else don't. ...
Overview: Banknifty gapped down today and we saw a cracking fall below the support levels of 35575 and tested below 35240 levels. Either it's a correction or a trend reversal. It's yet to be seen so we can have a view of shorting in the market as long as we are below 35240 levels. Banknifty resistance level: 35405/35575 If we open flat, we can see the...
Good evening all, This is NOT a copy & paste from yesterday. Well, it is..... In a way that my view hasn't changed and levels haven't been breached. With an ascending triangle forming at 35800, from here, if the market goes up, it will be as follows: Long side view: Buy above 35820 Target 1 - 36050 Target 2 - 36445 Target 3 - 36575 However in my view, it will...
Overview: Banknifty opened above 35575 and went to hit our 1st resistance level of 35710 and after it continued to maintain that level for a long time and consolidated. But we gave closing on the lower side due to profit booking at higher levels and NIFTY missed ATH. The view is bullish and the trend is positive now as long as we are sustaining above 35100...
Good evening all, Like I had mentioned in my weekly view, the target for 35700 was met today. from here, if the market goes up, it will be as follows: Long side view: Buy above 35820 Target 1 - 36050 Target 2 - 36445 Target 3 - 36575 However in my view, it will touch the 36000 range and then probably drop back, and if it does, then; Short Side view: Sell...
Overview: Banknifty gapped up above 35240 levels and as expected we kept moving upward and all our given targets till 35710 have been achieved. But we gave closing on the lower side due to profit booking at higher levels and NIFTY missed ATH. The view is bullish and the trend is positive now as long as we are sustaining above 35100 levels. Banknifty...
Good evening all, We are in July, which historically between 2012 and 2016 has seen a +-0.5% move, but between 2017 and 2019 has been +-5.0% (you read it right and spot the difference) and last year was a different beast. What does it mean for us.... The monthly ATR since March has been ~3500 and effectively means the market could move within a range 1700...
Good evening, For tomorrow, my view is slightly on the neutral side as the level that BNF has reached is a strong PRZ. We may see a reversal from this point. If we do... Short entry is at 35100 Target 1 - 35000 Target 2 - 34900 Target 3 - 34700 to 34650 However, if the market carries today's sentiment and sustains over 35300, then we'll see Long entry is at...
Please do have a look at the earlier analysis as well for the overall picture. This analysis is biased with Fibonacci levels for entries BNF has been underperforming from the last few weeks, so it may play a catch up with Nifty on the way up starting from 30405 lvls, BNF has made bold green candles at the lvls faced rejection .618 lvl of 35802. Even after...
Overview: Banknifty gapped up above 34893 levels and faced ad resistance around 35000 levels and after consolidating it moved up to close around our pivot level of 35240. The view is bullish and the trend is positive now as long as we are sustaining above 35000 levels. Banknifty resistance level: 35240/35405/35575 If we open flat, sustaining and trading...
As per the Open Interest buildup in Bank Nifty, Bank Nifty is ready to make breakouts on upside. There is a Triangle Pattern formation which may lead to huge breakouts on upside.
Good evening all, For tomorrow, I carry my view from the past 2 trading sessions. The index will be in a range between 35200 and 34650, which also is the daily ATR. Since 34900 has offered a strong resistance forming a double top, breaking that barrier is going to be important. Having said that, it also forms the neck line for a potential inverse head &...
Overview: Banknifty opened on a range of support and resistance levels of yesterday and faced support of 34730 levels and bounced to test our level of 34893, It was the same movement as the day before yesterday hence the levels are intact. Again we have range in the market as the movements are not that great either due to illiquidity or volatility. Banknifty...
Good evening all, As mentioned last evening, 34650 remains a strong support level and is our PRZ level at 88.6%. This means the bear run might just see the end.... Or will it? For it to continue, 34500 level needs to be breached and we may then see 34400 and if that breaks 34100 (in one day....hmm... may be not). However, if the sentiment from June 28th has to...
BankNifty: If does not cross 35500, can fall till 33000