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Expirystrategy

BankNifty Intraday Support & Resistance Levels for 19.06.2024For the second consecutive day, BankNifty closed above the psychological level of 50,000. The weekly trend (50 SMA) is positive, and the daily trend is sideways. Intraday Support Levels: Near Support/Demand Zone (15m): 50,339 - 50,403 Far Small Support/Demand Zone (15m): 50,186 - 50,266 Far Support/Demand Zone (15m): 49,693 - 49,779 Intraday Resistance Levels: Near Resistance/Supply Zone (125m): 50,619 - 51,133.20 Major Resistance/Supply Zone (Daily): 50,092 - 51,133.20
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
20th Dec ’23 - BankNifty falls 967pts - stance is now bearish 🐻BankNifty Today Analysis It all started with BankNifty today, the options flow was indicating immense bearishness. But Nifty50 options flow was showing strong bullishness. This contrasting directional bias barely works in our market. And 9 times out of 10, Nifty50 mends its way to go as per BankNifty’s directional bias. The reason is, BankNifty is still the leader of the pack. 4mts chart link - click here So first, the collusion again with NiftyIT to get Nifty50 to get to a new top and then a meltdown. BankNifty shaved off 967pts intraday after getting a gap up open. The candle at 13.27 ensured we were re-entering the ascending channel. Just like we discussed yesterday - the directional move came and we were not caught off guard. You might have guessed when we went short today, yes as soon as the ascending channel top line was breached. The ensuing momentum gave us confidence in the bearish bets. What was more surprising was the breach of the bottom line of the ascending channel - I honestly did not see that coming. 63mts chart link - click here Technically Banknifty has not moved that much today, we just dropped 0.89% compared to 1.41% of Nifty50. There were some outliers today, ADANIENT -5.35%, ADANIPORTS -5.76%, RELIANCE -1.21%, LT -2.3%. And the subsectors were all in RED. I seriously do not know if it is a serious correction phase as the runup so far has been like a dream. The chances of something happening like this were quite evident today. BankNifty options premiums were screaming bearishness - I thought it was because of the expiry. And Nifty50 was showing strong bullishness. I bet my money on Nifty as the options prices were more rational as it was not expiry related. But since the BankNifty’s premium’s were not dropping - It gave me the warning shot. Quite fortunately was able to catch the top and low of a few strikes correctly. Also was able to switch between BN and N50 strikes quite seamlessly to take advantage of the mispricings. Who in the world will believe 22700 CE of Nifty50 had a premium of Rs3 for 1 DTE i.e. a strike 1500pts above spot?
NSE:BANKNIFTYShort
by viswaram
Sharp Recovery and New High Signal Bullish Momentum 16 and17 Aug In the dynamic world of trading, the Bank Nifty (BN) showcased an intriguing scenario today, leaving traders on the edge of their seats. After a sharp initial fall, the index staged an impressive recovery, ultimately reaching new heights by the day's end. Let's delve into the details of this captivating journey and explore the potential trading opportunities it presented. The Opening Gambit: The day began with a dramatic twist as the Bank Nifty witnessed a gap-down opening at 43975, raising concerns among traders. However, as the trading session unfolded, the index proved its resilience by not only recovering from this initial blow but also closing higher at 44038. Such a turnaround certainly caught the attention of those who closely monitor market movements. Seizing Opportunities: Amid the market's oscillations, two distinct entry points emerged, each offering traders a chance to capitalize on the volatility. The market's upward surge was notably punctuated by a subsequent pullback to around 43897, providing astute traders with a second bullish entry opportunity. These moments highlight the significance of being agile and opportunistic in the trading arena. Navigating Price Action and Volume: A key phase of the day's trading action was the rally to 44123. This surge, however, was met with a minor retracement, accompanied by substantial trading volume. This is often a telling sign of accumulation, as traders and investors position themselves for potential further gains. The closing proximity to a support level adds weight to the potential for bullish sentiment. Charting the Path Forward: Anticipating the next trading session, a prudent strategy comes to the forefront. In the event of a lower opening, exercising caution and waiting for a bullish momentum to take shape is a logical approach. This approach ensures that decisions are aligned with the prevailing market dynamics, guarding against impulsive moves. Navigating Both Sides: The day's events also beckon the possibility of scalping opportunities on both ends of the spectrum. By keeping a close eye on market shifts and swiftly adapting to changes, traders can potentially capitalize on quick gains, irrespective of the market's direction. Unveiling the Anchored Value Profile: Enter the Anchored Value Profile—a tool that sheds light on market momentum. An intriguing insight emerges from this analysis: a robust momentum surge could be in the offing following a pullback between 44100 and 44060. This nugget of information could guide traders in aligning their strategies with potential momentum shifts. Targets on the Radar: In the realm of targets, a clear roadmap materializes: - Target One: 44179 - Target Two: 44222 - Target Three (If Momentum Persists): 44340 As traders prepare for the next session, it's crucial to acknowledge the inherent risks associated with trading. Market dynamics can swiftly alter, propelled by unforeseen events and economic trends. Crafting a well-defined trading plan, fortified by effective risk management strategies, is paramount before embarking on any trades. In conclusion, the Bank Nifty's roller-coaster ride today encapsulated the essence of trading: unpredictability coupled with opportunities. By deciphering the market's cues, recognizing momentum shifts, and adhering to prudent trading practices, traders can navigate these waters with heightened confidence. Remember, knowledge and preparation are your compass in the trading world.
NSE:BANKNIFTY1!Long
by uttamrk1
1
NIFTY50 : WEEKLY EXPIRY SPECIAL 🔍So, got a lot of enquiries for explanation of today's movement by Indices and here I will try to summarise the entire context for ongoing price movement with the help of my very own "Pivot Auction Chart" 📶 ➖ To start with the general context of this week's price movement - 👉🏻 Currently both the indices are in grip of weekly participants (responsive). 👉🏻 So, either they show strength at the pullback to push the price in the ongoing direction or else the Monthly Responsive players will trap them in coming sessions which will lead to a situation of pullback getting turned into reversal. This context was discussed on 8th August, 2023 What happens today?? 📍 We saw a O=H opening today depicting strong selling pressure as we break the previous 2D low which happens to be at the Monthly Cam Level L3 (ML3) and Weekly Pivot (Pivot(W)) . 📍 Now with first hour being a seller's candle alongside daily narrow CPR setup which was an indicative of a possible trending day which turned the tables after the flush of weak daily sellers who enter in the market after a consolidation in the first half. 📍 With the market narrative being seen as a pause for further selling in the second half, we see a price breakout from the hourly price range and as the general context was given we see as soon as the price cam to previous 2D low in confluence to the price level of Monthly Responsive Buyers they trapped all the shorters for the day with the of help of Metals, OIl & Gas and Auto Sector in their bucket to push the price higher to the 2D high. ◇Attaching a snapshot of NSE:NIFTY in accordance to Auction Market Theory (AMT) which shows this phenomenon in more depth and will help you tomorrow too ▿ ↘︎ A brief for tomorrow's expiry movement: • We see a Bullish GPZ setup for tomorrow alongside an event day too that is "RBI MONETARY POLICY" meet which starts at 10am IST. • So, here one thing is which is very straight and simple is that NSE:NIFTY will be in control of today's buyers until the GPZ is taken down. • In case of GAP-UP opening we have a broader responsive range of "Weekly Responsive Sellers (WH3) - Quarterly Responsive Sellers (QH3) & also Daily Responsive Sellers (DH3) so, a dip can come towards the GPZ and if the GPZ is intact a good short covering can be seen tomorrow towards 19800. • In case of GAP-DOWN opening we can price taking an initial bounce from the Daily Pivot and if the price unable to cross PDH then first we will break the GPZ and then if the news momentum joins in then we can go as deep as towards 19380-19410 levels. So, here is a summarised brief of today's movement in the simplest yet as descriptive as possible and tomorrow's possible move in NSE:NIFTY and similar follow up in NSE:BANKNIFTY ✓ If you found it helpful then share it with your traders/friends/family ⏭️ Regards, Mukkull 🫶
NSE:NIFTY
by PivotMinati
11
Bank NIfty Expiry day Special Analysis 27/07/2023Good Morning Traders, I hope you are doing good in your trading and your life as well. Before to start today's analysis, I want to say thankyou to all of you guy's that i have completed 2k followers on tradingview.com, it all got possible just because of your love and support guy's. Our TraderRahulPal family is increasing slowly slowly. Thankyou one more time to make this possible guy's. Okay now we will start our analysis. Banknifty is trading in kind of bullish flag pattern, but that is not exactly bullish flag pattern, but if we will see breakout this pattern we can see some momentum for upside, which can take this banknifty towards in the zone of 46230 and 46375 levels. But we need safe entry, which i already marked on chart, i will write it down also. i written on chart about resistance in upper zone (Well Guy's there is resistance for banknifty in the zone of 46231-46350, in case if we see any price rejection on top and we see any kind of bearish pattern like Inverted Hammer. So we can sale also with the stop loss of 46487). Banknifty Important Levels for today:- Buy above 46231, if levels got sustain at least for 30 mints. Targets we can see in upside 46364/46487+ Keep stop loss at 46000 Sale below 46000, if levels got sustain at least for 30 mints. Target we can see in downside 45806/45662/45504 Keep stop loss at 46231 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. Note:- For Banknifty Hero Zero trade will be in 2nd half according to price action, we will analyse market and then we will update in comment box. Please make sure you have followed us, so you will be notified on right time, when we update this idea. 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:BANKNIFTY
by TraderRahulPal
7
Expiry Day Special Analysis || Hero Zero Trade will be by 1:15pmGood Morning Trader, i hope you all will be doing good in your trading and in your life as well. Expiry comes again, i know most of our followers they just wait for these days. Okay so as today Finance Nifty expiry day, so will analyse this and will see what we can do today. If Finnifty will hold 20500 levels till 1st half and give breakout of downward sloping trendline on chart then the momentum will shift towards upside and may be we can see new highs today one more time. But as of now data showing negativity in it, If Finnifty start trading below 20500 levels, then this will be hazard sign for Finnifty as then we can see more downside if 20500 levels will break. well we will take our hero zero trade according to price action. Important Levels for Finnifty:- Buy above 20573,if levels sustain at least for 30 mints. Targets will be in upside 20655/20750+ Keep Stop loss at 20500 Sale below 20454, if levels sustain at least for 30 mints. Targets will be in downside 20324/20233/20141 Keep Stop loss at 20500 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:CNXFINANCE
by TraderRahulPal
Nifty Expiry day Special Analysis|Hero and Zero will be at 1:15Good Morning Traders, i hope you all will be doing good in your trading. Today is Nifty and BankNifty Expiry Day. So let's start. Nifty is forming a pattern which is quite similar to bullish flag pattern but that is not a bullish Flag pattern. Yes that is not exactly a bullish flag pattern. Let me explain about this:- There are some common misunderstandings of what constitutes a continuation flag pattern and what doesn’t. The only difference between these often misunderstood patterns is the angle at which the flag develops. Everything else looks the same, although the difference is critical. (Guy's i can't put that small chart here, which i created on chart, can you please just go and check that pattern on chart then come to read next)-- You’ll notice how the misunderstood ‘bull flag’ pattern formed in the direction of the trend, not against it. Although a minor difference, the significance is strong. See, these ‘flags’ are inconsistent in their outcome, though can quite often represent exhaustion of an existing trend. Note:-In order for this pattern to be considered bullish, we need the consolidation to slope AGAINST the momentum. Wrapping up:- Bull and bear flags come in all sorts of sizes and shapes, but the one thing that never changes is that the angle of the flag has to oppose the current trend in order to be considered tradable. As a traders, it’s not our job to take every single trade setup, it’s our job to take the trades that put the strongest odds in our favour. We do this by being very selective and choosing only the highest probability setups to trade. Keep this close to mind and more often than not you’ll hit the resumption of the trend by trading these quality flag patterns. So, guy's i think this is clear now right? Now let's back to nifty levels okay. Nifty Important levels for today:- Buy only above 19855, if levels sustains at least for 15 mints. Target will be 19935 (New all time high) Keep stop loss at 19765 Note:- If you get any bearish candlestick then sale here too, as market is highly overbought. And keep stop loss at 19935. Sale below 19765, if levels sustains at least for 15 mints. Targets will be in downside 19702/19634/19565 Keep Stop loss at 19855 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
2
Finance Nifty levels | Expiry Special Trade | Hero Zero TradeHello Good Morning Traders, Yesterday was a very good day for trading, i hope everyone would have exited in profits. After giving breakout of down slopping descending channel, there was a huge upside momentum in Banknifty and Finnifty. Nifty was already making new highs. so let's analyse for today's market. I think today also we can see trending market, but there is retest needed for yesterday's breakout. We will wait to get best entry for upside. Market is going to give some gap up opening in today's morning according to gift nifty. I think we can see some profits booking in first session and then we can achieve our levels. In case if market will start moving upside as buyers are aggressively active since yesterday, then we will buy some where 20398 levels if those levels will be survive at least for 30 mints. I have marked everything on chart. Important levels for Finance Nifty:- Accumulate in between (20066-20149), Because that is only will be Best buying zone as after giving huge breakout, there is no any retest in yesterday's session, so wait for the best entry. Targets will be 20315/20398+ Stop loss200 EMA line, right now at 20010, it will slightly increase according to price behaviour. But If you don't get these retest and downside in today's session then wait for to sustain above 20398 levels at least for 30 mints, and then go for target above 20520+ Then your stop loss will be 20149 Note:- Finance Nifty Expiry Special, Hero & Zero Trade Will be in 2nd half of the day in Trading session, according to price action By 1:15pm, So we will update by given time. follow us to get notification about this trade. 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:CNXFINANCELong
by TraderRahulPal
4
Finnifty expiry special trade setup FinNifty Important intraday levels to watch for 18-07-2023 #Support: 20250 Short if candle closes below 20250 #resistance: 20450 Long if candle closes above 20450 or if 15 minutes candle closes above 20305 with a strict stoploss of 20440 for the target towards the supply zone. #Targets on downside after break of support. Target 1= 20150 Target 2= 20020 Target 3= 20900 #Targets on upside after break of resistance. Target 1= 20530 Target 2= 20586 As this is expiry no one should hold the loosing trade for longer time period and strictly trade with stoploss. Follow us for more such information and educational ideas. Give it a like if you appreciate the idea. Queries will be answered in comment section.
NSE:CNXFINANCE
by InvestyourAsset
Nifty Hero Zero Trade||Expiry Special Nifty again made all time high today, but according to me there is no any sharp moment in it. Well for me highest upside remain in the NIfty is till 19500 levels. Today also it has tried to touch but returned from the level 19472, let's see what is going to happen, but i am looking an opportunity to short the nifty and banknifty but will do according to price action only. Have to observe more as market is very very bullish anything can be possible from here. I have mention the levels on chart for buying and saling, You can see on chart, and i will write below as well. Important Levels For nifty:= Sale Nifty below 19410 if levels got sustained. Target will be 19362/19342/19309 Stop loss 19472 (today ATH) Buy Nifty Above 19475 if levels got sustained. Target will be 19525+(I don't see much highs in it) Stop loss 19425 For Hero Zero Trade I will Update till 1:15-1:30Pm,Stick with us. Note:- Always trade with stop loss, because it will save you from unexpected losses if market went opposite to your Analysis. Disclaimer:- I Might be wrong in this analysis, so please always do your own analysis or consult with your financial advisor before taking any kind of trades. Please like, follow and comment your thoughts on my idea. Thankyou. Regards Rahul Pal
NSE:NIFTY
by TraderRahulPal
2
Expiry Special Analysis||Banknifty Hero Zero Trade in 2nd halfBanknifty analysis for today's expiry:- Yesterday was a good day for all traders who was a trend trader. We have seen huge buying momentum in all indian indices. Banknifty also has given significant move from bottom after 1pm. From global everywhere green green today, American Market also has given rally in yesterday session, just because of that our Market might be going to open in higher (Little Gap opening). What i think banknifty could also open somewhere 44255+, (it's just a guess) then may all people can start booking whoever was in hold since yesterday but there is a small resistance above at 44328, might be we can go to touch and reverse from there within half an hour. I think if profit booking start then we can definitely see some downside levels as today is nifty and banknifty expiry sharp rally could be expected. What i think apart from this may be one sell off (profit booking) can be seen at higher levels then banknifty can reverse till at support levels which is somewhere at 44048-44088 levels. If this area got sustain and we see some Hammer or double bottom kind of pattern in today's session then definitely one buying could be seen from there, and that will be perfect level to go long for the target of 44328/44457 levels. But if that area does not support then we can see levels for downside too like 43939/43713. Note:- For Hero Zero Trade I will update this idea around 1-2pm, So c u guy's in 2nd Half. Till then Trade Carefully, And ty to trade in Next week expiry as today time decay will eat all premium, if there will not be trending market. And Always use stop loss. If anyone likes my work then definitely like this idea and follow me for more updates and let me know your thoughts about this idea in comment box. Thankyou, Regards Rahul Pal Disclaimer:- I Might be wrong in this analysis, so please always do your own analysis or consult with your financial advisor before taking any kind of trades. It is just my view i might be wrong also. So please trade according to you.
NSE:BANKNIFTY
by TraderRahulPal
8
PostMortem on FinNifty Today & Analysis of 27 JUN 2023The trend started in Finnifty which was responsible for the last hour surges in BN and N50. If you look at the Finnifty chart today - it was positive right from the start. From 11.10 to 15.10 we had a decent rise of 1.27% ~ 248pts. Today was the expiry day & till 14.00 we did not see any major impact to the options premium. But right after that the CE premiums were surging & had unbelievable intraday gains percentage wise. 19550 to 19750 CE were all out of money till yesterday's close, but went ITM (in the money) by today. Percentage wise 19700 CE had a gain of 2170%, 19750 gained 1745%, 19650 gained 1536, 19600 gained 897%, 19550 gained 538%. Today would have been a dream day for option buyers. I missed out on the opportunity today mainly because I assumed preponing the expiry day would result in selling and not buying. Hence my PUTS went worthless today!
NSE:CNXFINANCE
by viswaram
PostMortem on Nifty50 Today & Analysis of 27 JUN 2023Nifty opened right at the resistance zone of 18762 and then had a flattish pattern. Again the gap up would be due to front running by few players. Instead of falling to the previous close level - N50 held its ground and was aiming for resistance level breakout. The price action was not as dramatic as BN or Finnifty as the resistance breach came in very late in the day i.e. at 14.10. Once it broke out from this strong hold, it rallied another 68pts within 1hr. Today's price move has shifted the bias to +ve and it may also have enough firepower to take out the ATH by tomorrow. RELIANCE, ITC & other FMCG stocks did not participate in the rally today - so it seems like tomorrow is going to be an interesting bull side day. 1hr TF In yesterday's research report I had indicated N50 showing a bearish bias. Mainly because we had a support breach after what it looked like a M pattern aka double top. We have not completely negated that pattern, but the intensity with which N50 broke through the resistance - I will have to change my view. Technically N50 could push through the ATH by tomorrow as there is nothing resisting its way!
NSE:NIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 22 JUN 2023Weekly Analysis of BankNifty Banknifty is up 259pts between 15th to 22nd June i.e. current expiry week. Interestingly, BN was looking at steeper cuts on 15th - the price action was pretty negative. Luckily that level is still sacrosanct and has formed an interim support as we had one more retest @ 20th June. Today's Analysis The major anomaly that stands out in today's trade is the inverted V shaped pattern. 8 consecutive green candles to rise 324pts ~ 0.74% and then 5 consecutive red candles to fall 377pts ~ 0.86%. We opened inline and the close was in red, down -0.31%, but this unique rise2fall stands out. Nifty50 also had a similar pattern which we will discuss shortly. Its quite normal to expect some choppiness due to expiry, but the magnitude of 300+ move getting negated immediately - looks like a strong hand at play. Pattern similar to low Mcap pump and dump penny stocks. BN has still not managed to cross the 44068 resistance & poses a big question mark on why its not supporting N50 to take out its ATH. Nifty50 on the other hand came prepared to take out the ATH today, unfortunately NiftyIT was not supporting it. BN gave initial push 18886.6 we are just 1pt short of the last ATH hit on 01 Dec 2022. The Narendra Modi factor would be at play here, his current US visit may bring in more job, investment, partnership opportunities & the quick to gain from all these would be the Nifty50 companies. The fall of 108pts ~ 0.57% between 10.25 to 13.05 and then a fall of 102.1pts ~ 0.54% from 13.45 to 15.15 looked quite serious. The support of 18762.9 was held and we closed just above that. The pump-and-dump like pattern even though visible is not creating anomaly in N50 because today's price action in whole looks like a 2 legged downside fall. 1hr TF for N50 has formed a double top like pattern. Further trades below the support of 18762 will give it downside momentum.
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 15 JUN 2023 ExpiryThe beast in banknifty got unleashed today, after a long gap banknifty options really started surging today! You wont believe the OTM prices went above the traded range of Wednesday, that too today being an expiry day! --- BankNifty Weekly Analysis During the current expiry week 9th to 15th June, banknifty shed 556 pts ~ 1.27%. You may not believe that 544pts i.e 97% of that came just in today's trade. --- Today's Analysis We opened gapup right at the resistance level and then started falling. The first 5mts itself shaved off 200+ points. From there we had a steady falling day with no pull back. The selling really aggravated at 13.50 when all of a sudden lot of traders unwound short positions in PE. BN was near 43700 then, the volumes in PE did suggest that few traders were running for cover fearing their position may go deep ITM. This really fueled the next move. We fell another 300pts in 90mts.  Nifty50 was in green till then, see the blue highlighted area - the selling intensified in N50 too. Nifty50 at 10.00 was roaring past the resistance level of 18762 and was looking unstoppable. For the first time since Dec 2022, N50 tried to shoot for ATHs. Banknifty had other plans, may be attributed to the FOMC meeting yesterday - which we will discuss shortly. --- 15mts has now confirmed a break from the trading range, the last time it broke on the downside was on 24 May, which it recovered by 26th. The pick-up in momentum after the range break also signifies unfinished business ahead. --- 1hr TF also shows the range breakout, but the chart is not bearish yet. There are supports at 43253 & 43012 ahead. If banknifty is not stopping there - then it will be an interesting case for the July series. Remember we will have expiries on Fridays from 7th of July. The split of N50 and BN to separate days will definitely improve speculation. --- The curious case of FOMC rate pause Yesterday US FED decided to keep the interest rates at 5.25%. Our RBI has kept the interest rate at 6.50%. Lets just analyze what this interest means for a foreign institutional investor. Assumption: FII is investing in India's debt instruments & not equity Investor has earmarked 100000 USD for investments. In US over a 1 year period his investment will grow to 105250 USD. Whereas if he invests in India it will grow to 106500 USD. Now investment in India has to be done in INR, so there is a currency conversion risk. Lets just calculate how much was the USDINR appreciation for the financial year it was ~ 8.23% So now Mr. Investor has 97735 USD left with him i.e. a opportunity cost of -7.51% if he chose India over his home country. The best way RBI can tackle this issue is either get the USDINR to depreciate or hike the repo rate to have a higher divergence than FED rate. to view all 6 charts visit viswaram. com
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 13 JUN 2023 FinNiftyAnother day went by where the last 1 hr changed the sentiment of the day. Banknifty rallied 188pts ~ 0.43% from the LOD to the HOD all in 65 mts 14.20 to 15.25. Till that point the view was bearish and open for shorting opportunities. Just check the encircled area, banknifty was struggling to go past the resistance of 44068. The set up seemed almost perfect for a short-sell opportunity, it even had follow through when the 13.50 and 13.55 shaved off 114pts ~ 0.26%. Even the BN options data was showing weakness ahead. But Nifty50 had other plans, you would have noticed how strong it was even in the morning session. And it was not due to NiftyIT's support alone, RELIANCE, ASIANPAINT, ITC, HUL were all amassing gains. The option data for nifty was showing bullishness - the mistake I did was to anticipate nifty to fall once banknifty started its descent.  In fact the real opposite happened, Nifty50 pulled banknifty up, helped it cross the resistance with ease. My decision to go short was taken in a hurry to capitalize on the Finnifty expiry - but what it did was to take out the stop loss. Technically today banknifty and finnifty crossed the resistance whereas nifty50 has few more points to go i.e. till 18762. To an extent the last hour rally would have been due to the positive expectancy from US CPI data. Moreover SPX is at a 52wk high (not at all time high though). --- 15mts chart of BN still shows its trading in a range. Was expecting the lower end to break down today, but that did not happen. --- 1hr TF is also continuing in the same range. The upper band is at ATH levels - crossing that would mean a breakout trade and for that to happen banknifty would have to build lot of momentum. --- Finnifty Expiry Special Finnifty had a chart similar to banknifty. 19421 was the crucial SR zone for today, earlier in the day the trading was happening above this level. Between 13.50 to 13.55 there was a sudden fall back to the SR level. Again I assumed it will break this level and fall below the recent swing low. What actually happened was a rocket-style surge 90pts ~ 0.47% to ensure finnifty closed at the high of the day. From an expiry perspective, the options premiums were decent enough and had adequate juice till 14.00. 19450 CE which closed in the money would have been a jackpot strike if the buyer got in at Rs6 to Rs7 levels as it went up 3x.
NSE:BANKNIFTY
by viswaram
Sale BANKNIFTY Expiry Day special||Hero Zero Trade & BTSTBanknifty is trading in a bearish flat pattern so chances are high this structure is going to break for downside,,if this is happening then we can see free fall in banknifty and this fall can take banknifty towards 43900 and more lower towards 43600. MACD is already given bearish crossover,,RSI also supporting data.Market sentiment looking bearish, So if anyone wants to go short can take position with proper given levels on chart and here. But at this levels also there is strong support,,according to pattern this should break for downside, but if banknifty take support on this levels then we can see sideways market for today. But as of now chances are higher for downside. Please follow strict stop loss in this trade. Naked option buying Hero Zero trade. Buy Banknifty 8th june 44200 pe now at 45 keep stop loss at 10 and go for target above 75/125/175/250+ Option writing Trade. Sale Banknifty 8th june 43400 Ce option at 229 now and keep stop loss at 350 and hedge with bankinifty 8th june 44300ce at 20 now Please follow strict stop loss, and trade with less qty. Please if you really make profits and like my published idea here, then do not forget to hit like and follow button. And always let me know what do you think about my idea by comment below. I wish you all a happy and profitable day. Thankyou:-))
NSE:BANKNIFTYShort
by TraderRahulPal
6