Get started

Niftybank

BANKNIFTY Intraday Trade Setup For 19 Apr 2023BANKNIFTY Intraday Trade Setup For 19 Apr 2023 Buy-Above 42365 Sl-42355 T- 42575 42800 Sell-Below 42110 Sl-42220 T-41917 41719 BANKNIFTY has closed on a neutral note and formed an inside candle in daily TF. Its sign of contraction. This usually happens after a big rally. After some days this contraction will burst out till then it can have a sideways momentum. Today by triggered above 42370 and gave more than 120 points gain (1:1). In the second half we saw a profit booking from day high , this move may continue below today's low and proceed towards 41700 zone. Its an inside candle so above 42605 we can expect upside move. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42365 then we will long for the target of 42575 and 42800+. For selling we need a 15 Min candle close below 42110. T- 41917 and 41719. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
Simple Trade Setup | BANKNIFTY | 19-04-2023 [INTRADAY]Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it. Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout. Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown. All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL. Good trade setup with good Risk reward will be only if we enter from any of zone. ------------------------------------- Trade Setup for 19-04-2023 Most of all the levels and zones remains same as per previous. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level. NSE:BANKNIFTY
NSE:BANKNIFTY
by Trading_hawk
BANKNIFTY Intraday Trade Setup For 18 Apr 2023BANKNIFTY Intraday Trade Setup For 18 Apr 2023 Buy-Above 42370 Sl-42260 T- 42800 43117 Sell-Below 42150 Sl-42260 T- 41975 41775 BANKNIFTY has closed on a positive note with 0.31% gain today. It was a bit volatile since opening till the day low. It opened with a crazy gap up and sold into immediately. In the weekend it was said that there is a chance of pullback before any further upside move. A pullback has been given yet small. Also our TSL for swing long position is still intact as PDL is safe (CB). Today's low is 17790 is important , breakdown can start the pullback move. Today 2nd buy level was triggered and it just gave V shape recovery almost from our 2nd buy zone mentioned in the trade setup. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 42365 then we will long for the target of 42585-42.6k and 42800. For selling we need a 15 Min candle close below 42150. T- 41975 and 41775. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
Simple Trade Setup | BANKNIFTY | 18-04-2023 [INTRADAY]NSE:BANKNIFTY Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it. Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout. Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown. All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL. Good trade setup with good Risk reward will be only if we enter from any of zone. ------------------------------------- Trade Setup for 18-04-2023 Most of all the levels and zones remains same as per previous. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:BANKNIFTY
by Trading_hawk
1
BANKNIFTY Intraday Trade Setup For 17 Apr 2023BANKNIFTY Intraday Trade Setup For 17 Apr 2023 Buy_1-Above 42200 Sl-42090 T- 42350 42505 Buy_2- From 41750 Sl-41640 T- 41975 42200 BANKNIFTY has closed a bold bullish note last day and week with 1.38% and 2.66% gain respectively. Our long trade from 39710 has hit 2 targets very smoothly and quickly. Long trade on 20 Mar Trade Setup. Till now it has given 2400+ points gain. TSL is intact which is PDL (CB). One can book some gain now. 2 weeks back it was updated that we have changed sentiment to bullish when morning star was formed and activated in weekly TF. Last month's high has been crossed but one pullback is pretty much expected before any further up move and this will be activated when we make a bearish price structure in hourly TF. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42200 then we will long for the target of 42350 and 42505. We will buy from 41750 zone also if it is tested in the 1st hour on Monday. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
Simple Trade Setup | BANKNIFTY | 13-04-2023[ INTRADAY] Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it. Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout. Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown. All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL. Good trade setup with good Risk reward will be only if we enter from any of zone. ------------------------------------- Trade Setup for 13-04-2023 Most of all the levels and zones remains same as per previous. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level. NSE:BANKNIFTY
NSE:BANKNIFTY
by Trading_hawk
BANKNIFTY Intraday Trade Setup For 13 Apr 2023BANKNIFTY Intraday Trade Setup For 13 Apr 2023 Buy-Above 41615 Sl-41505 T- 41730 41850 Sell-Below 41465 Sl-41575 T- 41300 41115 BANKNIFTY has closed once again on a positive note with almost 0.5% gain. The long trade which we took from 39710 (trade shared on 20 Mar Trade Setup). It is in a profit of almost 1900 points. Our TSL as said is the PDL (CB) or the last swing low in hourly TF. We will book our gains when our TSL is hit or else just keep on riding this parabolic move. Today buy triggered as per trade setup and hit our 1st target EOD. Trade gave almost 200 points (1:2). Tomorrow is expiry and so we have to be careful as there can a chance of profit booking. Coming to Thursday's trade setup, if index opens flat and and a 15 Min candle closes above 41615 then we will long for the target of 41730 and 41860. For selling we need a 15 min candle close below 41465.T- 41300 and 41115. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
2
Simple Trade Setup | BANKNIFTY | 12-04-2023 [INTRADAY]NSE:BANKNIFTY Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it. Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout. Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown. All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL. Good trade setup with good Risk reward will be only if we enter from any of zone. ------------------------------------- Trade Setup for 12-04-2023 Most of all the levels and zones remains same as per previous. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:BANKNIFTY
by Trading_hawk
BANKNIFTY Intraday Trade Setup For 12 Apr 2023BANKNIFTY Intraday Trade Setup For 12 Apr 2023 Buy-Above 41405 Sl-41300 T-41550 41700 Sell-Below 41230 Sl-41330 T-41075 40930 BANKNIFTY has closed on a bullish note with 1.3% gain. Today it opened with a big gap up and sustained that. 10 o'clock range broke upside above 41287 and gave around 100 points gain. Overall it was complete sideways post 10 AM. Nifty had clear moves but BANKNIFTY just slept the whole day. Bullish momentum likely to continue above today's high. Also trailing sl in our positional long is intact. Keep TSL as PDL (CB) or the last swing low - 40700. If it sustains below 41300 then there can weakness. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 41405 then we will long for the target of 41550 and 41700. For selling we need a 15 Min candle close below 41230. T- 41075 and 40930. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 11 Apr 2023BANKNIFTY Intraday Trade Setup For 11 Apr 2023 Buy-Above 40871 Sl-40760 T-41070 41270+ Sell-Below 40725 Sl-40835 T- 40530 40345 BANKNIFTY has closed on a slight bearish sentiment with 0.5% cut. Sell triggered as per trade setup and 1:1 and then it reversed which ended with NPNL . Later in the 2nd half sell triggered once again and 200+ points gain (1:2). After 6 trading session today it closed below PDL. Fun fact is that it happened after our long target (gap area) was hit. Now below today's low the down move may continue. Above 41275 which is the recent high next leg of bullish momentum will start. Keep trailing tight in these days with RR and as price moves. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 40871 then we will long for the target of 41070. Above 41075 we will hit 41270+. For selling we need a 15 Min candle close below 40725. T- 40530 and 40345. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 10 Apr 2023BANKNIFTY Intraday Trade Setup For 10 Apr 2023 Buy-Above 41110 Sl- 41000 T- 41270 41500+ Sell-Below 40940 Sl-41050 T- 40755 40580 BANKNIFTY closed on a positive note with more than 1% last week. It hit our projected target in long side which was triggered @ 39710 for the target of 41250-41350 which was the gap area. This trade was shared on 20 Mar trade setup. It hit our target and filled the gap area. Now coming to the fresh approach. Confluence of gap area and the the trendline can act as resistance and we may see a down move/pullback in the coming days. A shooting star candle can spotted in daily charts. Below its low we are likely to see a down move. Also this area cluster where it will decide the trend. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 41110 then we will long for the target of 41275 and 41505. For selling we need a 15 Min candle close below 40940. T- 40755 and 40580. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
Simple Trade Setup | BANKNIFTY | 10-04-2023 [INTRADAY]NSE:BANKNIFTY Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it. Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout. Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown. All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL. Good trade setup with good Risk reward will be only if we enter from any of zone. ------------------------------------- Trade Setup for 10-04-2023 Most of all the levels and zones remains same as per previous. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:BANKNIFTY
by Trading_hawk
PostMortem on BankNifty Today & Analysis of 05 APR 2023 RBI MPCBefore we get into today's analysis let us spend some time on Inflation, MPC minutes by RBI & health of banking sector. You might be aware we have the MPC minutes & interest rate decision tomorrow. There are 3 possible outcomes status quo dovish hawkish  What really prompts RBI to rate hike are 2 things Inflation Liquidity in the markets Now the last minutes showed RBI not planning to lower its guard on fighting inflation - read here. What this means is that the inflation is still persisting at the upper band of 6%. And thats not at all good news for the economy as the cost of products keep rising at a level which will push a lot of people into malnutrition. The best tool the central bank has to counter inflation is to slow the economy by making the borrowing costs higher. ie increase interest rate (hawkishness).  In spite of the recent rate hikes, the 10YR GOI bonds reference index is trading at 7.27%. The banks has raised their lending rates as well as the deposit rates - but this is not materially felt in the GOI bonds or Gsecs. For comparison purpose, the 10YR US bonds has been plotted against the 10YR IN. Look at how steadily we have maintained a range whereas US bond rates has climbed 700% from the swing low. What I am trying to say is that the recent rate hikes here has not impacted the stock market, only if the higher tenure bond rates go up we can expect the stock market to fall. ie. people liquidating their equity scrips in favor of GOI bonds to get assured returns. Now the real reason why the Gsecs are not providing yields above 7.5% is something I have no clue on.  What happens if RBI increases the rates too much? The borrowers will have to cut down their expenses, capex etc to save money and reduce dependence on loans. One of the best way to do that is to reduce the employee strength. None of the previous rate hikes has triggered such a situation, RBI is also playing safe not to push it too much - a political move fearing the 2024 elections? I do not know.  Until they do that, people will continue to spend very heavily on commodity which will help inflation stay elevated. Recently the Govt. of India removed the LTCG indexation benefit for debt funds. Indexation benefit is the only thing that really accounts for the failure of the government in controlling the inflation. Because higher the inflation lesser will be the capital gains tax for the debt funds. Now the removal of this inflation index from picture is an open license to let inflation run elevated? I do not know. --- Coming back to the analysis part, NSE:BANKNIFTY opened well above the resistance level of 40880 at 40972. Made a strong 1st candle briefly coming below this SR and then closed higher indicating bulls may be in control. Today's NSE:BANKNIFTY performance might be skewed due to the moves in NSE:HDFCBANK - I am yet to figure out why we had a 2.68% gain in HDFCBK the highest weighted stock in bank nifty index. If you look at the opening minutes of the other major banks the counter balance trades that had to be done to keep NSE:BANKNIFTY at neutral position was so huge. NSE:ICICIBANK , NSE:KOTAKBANK , NSE:AXISBANK & NSE:SBIN had to go into negative territory to compensate for the weight exerted by NSE:HDFCBANK . And for some reasons these were not impacting the option prices. On some other day the option premiums would have shot up due to the uncertainty - but today we had a below normal premiums. Even with the MPC scheduled for tomorrow - there was no fear ! The option prices dipped below the usual Wednesday closing averages. --- 15mts chart is looking bullish now with the top most support point well defended. Bears can only hope we have a pull back rally, if they are lucky the HDFCbk trades could reverse tomorrow bringing NSE:BANKNIFTY back to the range. Charts do not work on hopes, but we humans do! --- 1hr is not bearish nor bullish. Further resistance break out will shift the sentiment in favor of the bulls. A decent pull back should be in the cards because of the distance price has covered from 27th March.
NSE:BANKNIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 6 Apr 2023BANKNIFTY Intraday Trade Setup For 6 Apr 2023 Buy-Above 41075 Sl-40965 T- 41275 41475 Sell-Below 40890 Sl-41000 T- 40685 40475 BANKNIFTY has once again closed on bullish sentiment with 0.46% gain. After we initiated buy @39710 which was shared on 20 Mar trade setup for the gap area target. This is almost achieved and currently we are in a profit of more than 1300 points. Now if sell is triggered as per intraday trade setup we will book our gains. While actual TSL is PDL (CB). Today buy triggered above 40860 and gave a move till 41070+ Bullish sentiment will be intact till we safeguard PDL(CB). Reversal will be planned in case we close below PDL. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 41075 then we will long for the target of 41275 and 41475. For selling we need a 15 Min candle close below 40890. T- 40685 and 40475. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range. Trade on this range breakout.
NSE:BANKNIFTY
by Omahto
1