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BankNifty Intraday Support & Resistance Levels for 03.07.2024BankNifty bounced from the 15m Demand Zone mentioned in the last post, rallying over 200 points from the day's low. However, selling pressure in most BankNifty constituents (except HDFCBANK) closed 406 points down at 52,168.10. Both the weekly and daily trends (50 SMA) remain positive. Support Levels: Near Support/Demand Zone (75m): 51,510 - 51,784 Major Support/Demand Zone (Daily): 51,138 - 51,934 Resistance Levels: Near Minor Resistance/Supply Zone (5m): 52,374 - 52,472 Far Resistance/Supply Zone (15m): 53,060 - 53,181 Keep an eye on 52,735 in the 15m chart; any big green candle above this level may signal the start of a bull rally if sustained.
NSE:BANKNIFTY
by PriteshPal
19 Jan ’24 — Are you ready for the BANKEX expiry tomorrow?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 during trading hours. 4mts chart From the highs to the lows today, there was a swing range of 688 points. Just that the gap-up hides this in plain sight, after all the index closed flat at -0.03%. The change in holiday schedule is going to impact BankNifty the most as BANKEX expiry which was on Monday will have to be conducted tomorrow. Quite sure the traders were not prepared for this event and the opening minutes could create some chaos. We are not even sure if the technical analysis will work out tomorrow. 63mts chart Look at the encircled region - all RED candles. How many analysts do you know who would say these many consecutive red candles are a bullish sign? None. Despite this, BankNifty could move up tomorrow as the news flow of holiday change was not priced in. BANKEX has a close correlation with BankNifty and logically traders would use the opening minutes to build expiry positions tomorrow. Since FIIs were not informed, they would come tomorrow unprepared. If there is sanity tomorrow and BankNifty starts moving downwards - the first level to watch out for is 45399. To go bullish - it has to climb 1765 points.
NSE:BANKNIFTYShort
by viswaram
Market is oversold?? || Nifty Expiry Day analysis 05th OCTGood Morning Traders, Yeah Market is looking oversold, A bounce is possible in indian market, i mean a rally of 120-180 points is possible in Nifty. Nifty have formed a small candle on the daily timeframe with almost identical open and close and with long lower shadow. Technically this pattern indicates the formation of a Dogi or Hammer type candle pattern. Normally, the formation of such patterns after a reasonable decline or at the key supports signals a comeback of bulls from the lower levels. Any recovery above 19500, will take nifty towards 19625+. Important levels for nifty:- Support Zone 19300 Resistant Zone 19500 Buy above 19480 only if levels sustains at least for 30 mints. Keep stop loss at 19392 Targets we can see in upside 19550/19625+ Note:- Hero Zero Trade will be in 2nd half somewhere 1:15pm. So, we will update in afternoon according to price action, so stick with us and follow us to get notity at right time. Till then enjoy but don't overtrade and Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:NIFTYLong
by TraderRahulPal
2
Expiry Day Special Analysis 03/Aug/23 || Nifty Hero & Zero TradeGood Morning Traders, i hope you had a good day yesterday, as we have captured huge move in nifty. Well i have brought again analysis on Nifty on Expiry Day. So let's start. Guy's yesterday we have seen sharp selling in all indian indices, even in whole world exchanges were down more than 1% in intraday. The reason was that US Credit downgraded. Anyway we have captured good move that is important as trader right. For today's scenario, Global market still looking bearish, i have seen, it's everywhere red showing. But nifty is on support let's see are we gonna to hold yesterday's low or not. Chances are high we can see some upside in first half and then sailing pressure can come in 2nd half, well predicting now is impossible, that what exactly gonna to happen, but we will trade according to levels or price action. IMPORTANT LEVELS FOR NIFTY TODAY:- Best buy will be when nifty cross above 19632 and sustains at least for 30 mints. Targets we can see in upside 19699/19766++ Keep stop loss at 19561 Best sale levels will be, once nifty breaks 19410 and sustains at least for 30 mints. Target we can see in downside 19335/19277-- Keep stop loss at 19561 Note:- Hero Zero Trade will be in 2nd half somewhere 1:15pm. So, we will update in afternoon according to price action, so stick with us and follow us to get notity at right time. Till then enjoy but don't overtrade and Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:NIFTY
by TraderRahulPal
10
Firefighting a Short Iron Condor Strategy on Nifty50 on Expiry DThis is a strategy you use when you feel the markets will not rise or fall below a predetermined level within the upcoming week. Approx 9 out of 10 times markets remain range bound and the other single time it breaks out or breaks down. This strategy is when you have a feeling that markets will remain range bound and will not break out or break down. We will be using Sensibull to analyze each of the strategies. If you have a zerodha demat account — their strategy builder tool is 100% free. We have created a short iron condor by placing a 4 legged option strategy. We have used the Nifty50 index that has a weekly expiry on 03 Aug 2023. The split up of the legs are · Buy 19350 PE for 13.65 · Sell 19500 PE for 37 · Sell 19800 CE for 39 · Buy 19950 CE for 13 Today is 28th July Friday and we have 4 more days to expiry ie. Monday 31st Jul, Tuesday 1st Aug, Wednesday 2nd Aug and Thursday 3rd Aug. The maximum profit you can get out of this trade is Rs2468 and the max loss is Rs5033. When you hold this trade till expiry, you can be 100% sure that your losses will never exceed Rs5033 — that is the first guarantee you can count on for fixed loss strategies. You will benefit if Nifty50 ends between 19451 and 19849 on 03 Aug 2023. Current price of Nifty50 is 19646. Which means we have 19646–19451 = 195pts protection downside and 19849–19646 = 203pts protection upside. To take this trade the capital required is Rs47194 which can be funded via cash in ledger or pledging Gsecs or GOI bonds. Mutual funds, stocks and ETF could be pledged as well, but brokers require 50% of all funds to come from cash or cash equivalent holdings. Firefighting Strategies on Iron Condor This is where the topic gets interesting. You are already aware by now that the max loss you need to defend is Rs5033 over the next 4 days but most importantly on 03 Aug expiry day. When to Fire fight? Firefighting is really required only if Nifty falls below 19451 or surge pasts 19849. Even if daily swings of this magnitude happens, its quite common for Nifty50 to revert to mean. So our firefighting strategies can be deployed for a short duration of few minutes or intraday. All the firefighting strategies has to deployed on EXPIRY DAY only i.e. every Thursday. I do not suggest or recommend to do it on any other day as the risks of not closing a fire-fighting trade may cause your capital to get wiped out. High Risk Firefighting The firefighting strategies require naked option buying or selling so its best recommended that you do it after studying the risks associated. Most importantly these tactics has to be done within the day and should not be taken overnight which may otherwise wipe out your capital. Most importantly these tactics has to be done within the day and should not be taken overnight which may otherwise wipe out your capital. I have intentionally repeated that sentence with bold so that it gets your undivided attention. How to Firefight? There are only 2 loss making possibilities here 1. Nifty50 is above our upper breakeven of 19849 2. Nifty50 is below our lower breakeven of 19451 Let us assume that Nifty is trading at 19400 now which means it is below our lower breakeven as per (2). From here Nifty50 has only 3 possibilities on 03 Aug Expiry Day a) Stays below 19451 b) Climbs back above 19451 but not cross 19849 c) Goes above 19849 Conditions (a) & © is unfavorable for us, whereas condition (b) is an ideal case for us. If condition (a) i.e. Nifty Stays below 19451 happens we have the freedom to sell CALL options above 20000 all the way till 21500 intraday. Image below shows the option chain of Nifty50 and the strikes highlighted in red are CALL options above 20000. If we select to short sell any of these strikes — there are only 2 possibilities that could happen 1. Nifty will scale back up the lower breakeven of 19459 — then these CALL options will appreciate in value and we will incur a loss if we hang on. The idea is that we got Nifty50 back above our lower breakeven so that it profits us — so it makes sense to exit the firefighting position. 2. Nifty closes below 19459 which means the CALL options we sold becomes worthless (ie goes to 0) and we pocket all the premiums paid Reiterating again that the firefighting has to be done only on expiry day where you have 100% visibility that the OTM CALL options are going to zero. On any day Nifty50 could make even a 0.5% move and drive up the options premium so high that you end up losing more. Similarly if Nifty50 is above 19849 we need to short sell PUTS below 19300 and grab those premiums to offset the max loss of Rs5033. How much premiums you should grab? The idea here is not to use the option selling strategy for income rather to cover your max loss. The max profits you can target should match the max losses you will hit in the original strategy. Also do not be adamant that you need to recover 100% of the losses, even if you are able to reclaim only 50% — it’s still a WIN. When to Exit the Short Selling Position? As soon as Nifty is back in the favorable range, we should prioritize exiting the short selling position as the fire is doused. If you hang on to the short selling position anymore — you may get barbequed/incinerated.
NSE:NIFTYEducation
by viswaram
Expiry Day special Fin Nifty Hero Zero TradeFinance Nifty, nifty and banknifty and all other indian indices all are trading bullish since yesterday. FInance nifty has given breakout of previous levels. Now price and action indicating a sharp move towards 19200+. MACD and RSI also giving bullish crossover, EMA 200-D also below our current price all are giving a bullish signal. As per expiry point of view we can expect a huge upside moment in second half. Highest call open interest seen at 19100 levels and 19050 levels. once fin nifty going to give crossover of these levels we can see a huge short covering and this momentum can lead towards 19200+ levels. Let's see what is going to happen we will update according to price moment. For Hero|Zero Trade:- Buy 19050 Ce for today expiry trading at now 16.9 Target we can see 40/55/75/95+ no stop loss this is purely hero zero trade. trade in less qty. this will only increase when finnifty is getting sustain above 19050 levels as these levels are little barrier for today. if these levels got successfully cross on chart then we can see this call option towards 70+ levels. Please trade in less qty as risk is higher in this trade but if it is gonna to work according to our analysis this is going to give huge rewards. If you guy's like my work then please do not hesitate to hit the like, follow button and also comment on this trading idea. Thankyou:-))
NSE:CNXFINANCELong
by TraderRahulPal