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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
Simple Trade Setup | BANKNIFTY | 06-04-2023 [EXPIRY]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 Last week of March 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 5 Apr 2023BANKNIFTY Intraday Trade Setup For 5 Apr 2023 Buy-Above 40860 Sl-40750 T- 41130 41350 Sell-Below 40650 Sl-40760 T- 40438 40180 BANKNIFTY closed on a bullish sentiment with 0.5% gain on Monday. Last day buy triggered as per trade setup. It gave a move from 40700 till 40850+. Bullishness will be intact till we safeguard PDL (CB). 1000+ points gained after we initiated buy @39710 shared on 20 Mar trade setup. Now trail sl aggressively with hourly swing lows or PDL on closing basis. Projected target is near 41350. Keep an eye on the trendline plotted in 15 Min TF. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 40860 then we will long for the target of 41130 and 41350. For selling we need a 15 Min candle close below 40650. T- 40438 and 40180. 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 03 Apr 2023BANKNIFTY Intraday Trade Setup For 03 Apr 2023 Buy-Above 40700 Sl-40590 T-40883 41110 Sell-Below 40530 Sl- 40640 T- 40330 40115 BANKNIFTY has closed on a bullish note last week. It ended with 3% gain and formed a morning star in weekly TF. However the long trade has been already triggered @ 39710 which was given on 20 Mar trade setup. This was picked after our sell target/PRZ(1.618) was hit on 16 Mar. Alter on 22 Mar trade setup it was told that we are heading towards 41250-41350. Till now it has given almost 1000 points profit out of expected target of 1600 points. One can trail sl now or book some. PDL is important. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 40700 then we will long for the target of 40883 and 41110. For selling we need a 15 Min candle closes below 40530 then we will long for the target of 40330 and 40115. 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 31st March OPTIONS IDEA (FRIDAY)BANKNIFTY 31st March OPTIONS IDEA (FRIDAY) NSE:BANKNIFTY The Bank Nifty index has been exhibiting a lot of volatility in recent weeks, with sudden dips and recoveries. As we approach the end of March, traders are eager to find profitable trade ideas in the banking sector. To help traders, we have analyzed the Bank Nifty chart and marked some important levels to watch out for during trading on Friday, 31st March. Bank Nifty may respect these levels, providing traders with potentially profitable trading opportunities. In this idea, we will discuss some Bank Nifty 31st March options ideas based on these marked levels and how traders can potentially profit from them. Follow these levels. Happy and Safe Trading!
NSE:BANKNIFTY
by Trader_Hu_Mai
BANKNIFTY Intraday Trade Setup For 31 Mar 2023BANKNIFTY Intraday Trade Setup For 31 Mar 2023 Buy-Above 40055 Sl-39945 T- 40290 40535 Sell-Below 39660 Sl-39770 T- 39460 39270 BANKNIFTY has closed on a bullish sentiment with 0.86% gain on Wednesday. On Tuesday a Pinbar candle formed in daily TF and was told that we will give a good up move above its high. This view worked perfectly on last day. Buy triggered above 39700 and it made a high of 40055. Now 39700 is important level. If we sustain below 39700 then we will dive once again. However important level in the downside is 39270 (hourly TF). Bullishness is likely to continue above last day's high. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 40055 then we will long for the target of 40290 and 40535. For selling we need a 15 Min candle close below 39660. T- 39460 and 39270. 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 29 Mar 2023BANKNIFTY Intraday Trade Setup For 29 Mar 2023 Buy-Above 39700 Sl-39590 T- 39955 40200+ Sell-Below 39450 Sl-39560 T- 39275 38945 BANKNFITY has closed with a slight bullish sentiment with 0.35% gain. Nothing triggered as per trade setup as it traded complete sideways within yesterday's range. It has formed a Pinbar in daily TF above today's high we will give a very good up move. 39270 is important level for the downside. Breakdown can give a parabolic down move towards 38750. In between one should avoid trading as it is just sideways with messy momentum in between. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 39700 then we will long for the target of 39955 and 40200+. For selling we need a 15 Min candle close below 39450. T- 39275 38945. Parabolic move will come below 39270. 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 28 Mar 2023BANKNIFTY Intraday Trade Setup For 28 Mar 2023 Buy-Above 39700 Sl-39590 T- 39950 40200+ Sell-Below 39270 Sl-39380 T-38945 38615 BANKNIFTY has closed closed on a flat note with just 35 points gain. It has formed a spinning top like candle in daily TF. This is a sign of indecision and same kangaroo moves were seen in today's session. Buy triggered as per trade setup which hit sl as it was trading a range the whole day. It has made a base at 39270 since last two days. So below this there will be very good directional move. If we make a bullish price structure and sustain above 39500 then we can head higher. Above 39700 it will be confirmed. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 39700 then we will long for the target of 39950 and 40200. For selling we need a 15 Min candle close below 39270. T- 38945 and 38615. 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
NIFTY Intraday Trade Setup For 27 Mar 2023NIFTY Intraday Trade Setup For 27 Mar 2023 Buy-Above 17000 Sl- 17050 T- 17100 17200+ Sell-Below 16915 Sl-16965 T- 16825 16725 NIFTY has closed on a bearish sentiment last week and day. It closed with almost 1% cut last week. Current important levels are 17210 and 16800. Above 17210 we will plan the reversal trade towards 17600 and above. Below 16800 bearish move will continue and it will start the leg towards 16600 and 16200 (extreme case). However if we close in green and make a green candle this week then we will probably reverse in the coming weeks. Till then we have to follow the same sell on rise approach. Coming to Monday's trade setup, if index opens flat and a 15 Min candle close 17000 then we will long for the target of 17100 and 17200+ For selling we need a 15 min candle close below 16915. T- 16825 and 16725. 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:NIFTY
by Omahto
3
#BANKNIFTY Short Term Positional View ( 1 - 3 months)#BANKNIFTY Short-Term Positional View ( 1 - 3 months):- Let me post what I see: a double zig-zag painful correction in the market, where positional buy is only above 42,000 levels (closing basis). People will get trapped on both sides and until and unless, you are ready to read this complex correction in a minute way, making money will be challenging in the coming 2 to 3 months of time. I prefer to trade lightly in the coming few months. Techno Funda on double zig-zag:- Double Zigzag Correction is a complex corrective wave pattern that appears in Elliott Wave Theory. It is a variation of the standard Zigzag correction that consists of two zigzag patterns separated by a complex correction in the opposite direction. The double zigzag correction can occur in both bullish and bearish markets and is considered a corrective wave that corrects the previous impulse wave. The Double Zigzag Correction is identified by the following characteristics: The correction consists of two zigzag patterns, labeled (W) and (Y). The zigzag patterns are separated by a complex correction labeled as (X). The correction ends with a final zigzag pattern, labeled as (Z). The (X) wave is usually longer and more complex than the (W) and (Y) waves. The (W) and (Y) waves are usually equal in length. The Double Zigzag Correction is a time-consuming correction that can take a long time to complete. It is usually seen in markets that are undergoing a strong trend reversal. The pattern is useful for traders who are looking for a countertrend trading opportunity, as the pattern provides a clear entry and exit point for trades. It is important to note that the Elliott Wave Theory is a highly subjective method of analysis, and the accuracy of any wave count is subject to interpretation. Therefore, traders should use caution when using the Elliott Wave Theory as a basis for trading decisions and should always use additional technical and fundamental analysis to confirm their trading decisions. Always trade what you see, not what you feel. Always enjoy trading and avoid trading when you are mentally disturbed. Regards, SG
NSE:BANKNIFTY
by subhagghosh
6
TREND IS YOUR FRIEND Hello Guys I am sharing the daily chart of Bank nifty with indicator Super trend plotted on it as you read the title that of this idea that trend is your friend so I choose super trend for some identifications apart of price action, So I am sharing this idea purely for educational purpose that is why the reason I am not tagging this idea in short category and second reason is that I am so late for a fresh short specially in this instrument Although I published an idea like this on Nifty but did not noticed this index at that time but some how it can help out for those who remained as a short position or those who want to add on dips with well placed supports. 💡 So as we can see that it made a rounding top by taking a resistance by curved trendline and some how got rejected by both (Super trend) at the same time and marching towards it's supports so as of now 37900 is looking good support zone by Super trend indicator. 💡 PRICE ACTION SUPPORT-: This is identified by price which is you can say that was previous resistance now can act as a support 💡 Probably it can or it will work for Trend traders, 💡 Comments, likes, suggestions and Rectifications are most welcome 💡 Trend is your friend always try to follow this do not try to oppose it ✌️ 𝐍𝐎𝐓𝐄-: 𝐓𝐇𝐈𝐒 𝐈𝐃𝐄𝐀 𝐈𝐒 𝐎𝐍𝐋𝐘 𝐅𝐎𝐑 𝐄𝐃𝐔𝐂𝐀𝐓𝐈𝐎𝐍𝐀𝐋 𝐏𝐔𝐑𝐏𝐎𝐒𝐄. 𝐑𝐞𝐠𝐚𝐫𝐝𝐬-: 𝐀𝐦𝐢𝐭 𝐑𝐚𝐣𝐚𝐧
NSE:BANKNIFTY
by AMIT-RAJAN
8
Simple Trade Setup | LAST WEEK MARCH 2023 | BANKNIFTY 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 Last week of March 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 27 Mar 2023BANKNIFTY Intraday Trade Setup For 27 Mar 2023 Buy-Above 39515 Sl-39405 T- 39750 40000 Sell-Below 39290 Sl-39400 T- 39089 38884 BANKNIFTY has closed on a bearish sentiment last week and day with 0.5% cut. Important levels in the daily TF are 40210 and 38600. Above 40210 we will see reversal and head towards 41350 and below 38600 we will resume the selling and this time it can give a sharp panic low. This leg can take BNF towards 36800-37000. Also if we make a bullish candle this week then we can reverse for the short term. Till then same approach of sell on rise will be followed. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 39515 then we will long for the target of 39750 and 40000. For selling we need a 15 Min candle close below 39290. T- 39089 and 38884. 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 24 Mar 2023BANKNIFTY Intraday Trade Setup For 24 Mar 2023 Buy-Above 39825 Sl-39715 T- 40013 40200 Sell-Below 39550 Sl-39660 T- 39325 39095 BANKNIFTY has closed on a bearish sentiment with almost 1% cut today. It was a roller coaster ride today and big moves were seen both the sides. It opened with a decent gap down and then 10 o'clock range broke upside above 39967 and gave a good move till 40200+. Sl was only 100 points and with that it gave more than 200 points gain. Now above 40210 we will plan the positional buy trade for the target of 41350. Below 39550 we head towards lower zones and below 38600 we will initiate the next leg of sell off. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 39825 then we will long for the target of 40013. Post rejection above 40030 we will hit 40200+. For selling we need a 15 Min candle close below 39550. T- 39325 and 39095. 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 23 Mar 2023BANKNIFTY Intraday Trade Setup For 23 Mar 2023 Buy-Above 40090 Sl-39980 T- 40315 40515 Sell-Below 39835 Sl-39945 T-39600 39347 BANKNIFTY has closed on slight bullish note with 0.26% gain. After our PRZ hit on 16 Mar since then it is going up slowly and steadily and till now we have not closed below PDL. So this up move will be strong till we defend PDL (CB). Today it had formed a tiny spinning top like candle in daily TF which is a sign of halt. And it was clearly seen in today's session. It opened with a slight gap up and then buy triggered as per trade setup which hit sl as it was complete sideways. It just traded inside 10 o'clock range the whole day. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 40090 then we will long for the target of 40315 and 40515. For selling we need a 15 min candle close below 39835. T- 39600 and 39347. 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 22 Mar 2023BANKNIFTY Intraday Trade Setup For 22 Mar 2023 Buy-Above 39971 Sl-39860 T- 40180 40357 Sell-Below 39755 Sl-39865 T- 39545 39335 BANKNIFTY has closed on a bullish sentiment with 1.35% gain today. In the weekend when BNF was at 39600 it was said that we will give a small pullback and then we will make a bottom and start the upside journey. Exact same thing happened on the very next day on Monday it gave a pullback and today it just started the upside journey towards 41250. Today it opened with a slight gap and then buy triggered above 39450 and hit targets (39450-39970). 10 o'clock range also broke upside above 39615 and gave 350 points. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 39971 then we will long for the target of 40180 and 40357. For selling we need a 15 Min candle close below 39755. T- 39545 and 39335. 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
BANKNIFTY Intraday Trade Setup For 21 Mar 2023BANKNIFTY Intraday Trade Setup For 21 Mar 2023 Buy-Above 39451 Sl-39340 T-39735 39925 40119 Sell-Below 39130 Sl-39240 T-38870 38615 BANKNIFTY has closed on bearish sentiment with 0.6% cut today. Today it opened with a slight gap down and sell triggered below 39220 and gave more than 180 points in the 1st go and later in the 2nd go it gave 280 points and hit 1st target. In the weekend it was very clearly told that we will give pullback before the start of the up move or reversal. It has formed a hammer in daily TF so its low and high both are important for the directional move. Above 39515 if sustained we will head higher and below 39900 we will resume the selling. Final take over level is 38600. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 39451 then we will long for the target of 39735 and 39925 and 40119. For selling we need a 15 Min candle close below 39130. T- 38870 and 38615. 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 - 20/03/23 MARKET VIEWAfter analyzing the BANKNIFTY chart on the 15-minute time frame, it appears that there is a noticeable bearish sentiment in the market. This is indicated by the current dominance of sellers, which suggests a potential downtrend in the short term. As such, it may be wise to consider a short entry position at 39190. This would involve selling BANKNIFTY at the current price with the expectation that it will decrease in value, resulting in a profit. To manage risk, a stop loss order can be placed at 39460. This will automatically trigger a sell order if BANKNIFTY rises above this level, helping to limit potential losses. The target for this short position is set at 38760, which represents the expected price level for BANKNIFTY to reach as it moves lower. Once this target is reached, the short position can be closed out to realize a profit. Overall, based on the current market conditions, taking a short position in BANKNIFTY at 39190 with a target of 38760 and a stop loss at 39460 may present a potential trading opportunity. However, as with all investments, it is important to carefully consider the risks and conduct thorough research before making any trading decisions.
NSE:BANKNIFTYShort
by DamisInvestments
BANKNIFTY Intraday Trade Setup For 20 Mar 2023BANKNIFTY Intraday Trade Setup For 20 Mar 2023 Buy-Above 39705 Sl-39595 T-40110 40515 Sell-Below 39220 Sl-39330 T-38895 38615 BANKNIFTY has closed on a bearish sentiment with more than 2% cut last week. Last week it finally hit our positional sell target (41550-38615). It gave dot reversal from the PRZ (1.618) which was 38615. So next leg of selling will will be triggered below 38600.This current week is a week base building and a bottom can be created. It has formed halt/reversal candles in daily TF so a pullback is very much possible. After that if we make bullish price structure above 39710 then we will start the upside journey. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 39705 then we will long for the target of 40110 and 40515. For selling we need a 15 Min candle close below 39220. T- 38895 and 38615. 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 - 20/03/23 MARKET VIEWOn Friday, the 17th of March 2023, the BANKNIFTY showed a strong close, indicating positive market sentiment and bullish momentum. To capitalize on this momentum, traders can consider taking a long position with a target of 40800 and a stoploss at 38900. The support levels for the index are currently at 39500-39700 range, which suggests that the index has strong footing and is likely to move higher. To reduce risk while maximizing returns, traders may consider purchasing a monthly expiry Call Option, such as the BANKNIFTY 29 MAR 40000CE. This option will allow traders to take a long position on the index at a predetermined strike price of 40000. By adhering to the given targets and stoploss, traders can minimize potential losses while capturing potential gains from the upward momentum. Disclaimer: It is important to note that trading in the stock market involves risk and requires a thorough understanding of market dynamics, technical analysis, and risk management. As such, traders should always exercise caution and conduct their own research before making any investment decisions.
NSE:BANKNIFTYLong
by DamisInvestments