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BANKNIFTY Intraday Trade Setup For 17 Jan 2023BANKNIFTY Intraday Trade Setup For 17 Jan 2023 Buy-Above 42460 Sl-42350 T-42700 42950 Sell-Below 42060 Sl-42170 T-41885 41710 BANKNIFTY has closed on a bearish sentiment with 0.48% cut today. It opened with a gap up directly at PRZ plotted 42700. A dot reversal was seen from there. It opened with a decent gap up and we already planned that we will trade on 10 o'clock range breakout. It broke below 42445 and 300 points profit with just 100 points sl. Market is likely to show these big length volatile moves ahead of budget. Index has made a range of 980 (42720-41720) points in hourly TF. In between it will be seesaw market. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 42460 then we will long for the target of 42700 and 42950. For selling we need a 15 Min candle close below 42060. T- 41885 and 41710. 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 daily analysis for 17/01/23.Nifty is taking a serious rejection from 18030 levels and today also Nifty tried to cross above the level but there was rejection from the first 15 minutes candle. The market took support around our levels of 17860-70 giving aa nice movement of 50-60 points and in the end closed near the support level. On the hourly charts, market has formed an inside candle and for intraday trades there can be an opporunity if the market crossed and sustain above or below the mother candle. The global markets are trading postive and if sentiments remain postive, a trade can be initiated above 18030 level, Support :- 17860, 17800 Resistance :- 17940, 18030 Wait for the price action before entering the markets.
NSE:NIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 16 Jan 2023BANKNIFTY Intraday Trade Setup For 16 Jan 2023 Buy-Above 42455 Sl-42345 T- 42590 42730 42900+ Sell-Below 42260 Sl-42370 T-42050 41885 BANKNIFTY has closed on a positive note with 0.69% gain on Friday. After forming a base at 42700. Now 42700 is very important, breakdown will initiate a larger slide in the coming days. Last day it has closed near day high which is bullish sentiment. Above 42550 this bullish momentum will continue. Also if no previous swing low is broken in hourly TF then slowly and steadily it will inch higher. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 42555 then we will long for the target of 42590 and 42730. For selling we need a 15 Min candle close below 42260. T- 42050 and 41885. 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 spot chart Analysis for 16.01.2023Banknifty standing just above a strong support of 42349. if banknifty moves above 42349 then it may reach 42508 . between 42508 to 42671 is also an extremely strong resistance zone . If Bank Nifty crosses over 42671 then it may also cross 42814 and may reach to the level of 42966. if banknifty moves down below where it left off then it may also cross 42191 and may reach to the level of 42041. if banknifty crosses below 42041 then it may also cross 41887 and may reach to the level of 41733. If banknifty crosses down 41733 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 43113 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
Nifty daily analysis for 16/01/23.Nifty on the weekly time frame, has given a neutral doji and closed gaining 100 points. The index has taken a good support around 17800 levels and during the last trading session closed near 17950 leves. Though the market has been trading between both the moving averages, on daily charts but there is some positivity in the weekly close. On the hourly charts, the market has formed a nice "W" pattern and a break out of 17900 levels. There is still a lower high equal low formation and once the market cross above 18130, bullish trades can be carried for swing. On 15 minutes chart, the market has crossed both the moving averages and closed near the 200 ema. Support :- 17930, 17870 Resistance :- 18030, 18130 The global markets are in a positive momentum and Indian market can follow global markets. wait for the price action near the price level before entering the markets.
NSE:NIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 13 Jan 2023BANKNIFTY Intraday Trade Setup For 13 Jan 2023 Buy-Above 42135 Sl-42025 T- 42340 42565 42800 Sell-Below 41950 Sl-42060 T-41740 41348 41000 BANKNIFTY has closed on a slight bearish note with 0.36% cut today. It was another volatile day with volatile swings. As per trade setup, sell triggered below 42000 and hit 1st target. This trade gave more than 250 points. Sharp moves were common in today's session. In daily TF two consecutive hammer candles have been formed. Above its high - 42350 it will give good upside momentum. Since its a buyer's candle so below its low- 41700 aggressive selling can be seen. Initial move of 600 points can be achieved either side. In between we can see usual unpredictable sharp moves. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 42135 then we will long. T- 42340, 42565 an 42800. For selling we need a 15 Min candle close below 41729. T- 41545 41350 and 41000. 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
Nifty daily analysis for 13/01/23.Nifty on the daily time frame has given another doji after retesting the support level of 17800. The market has tested the weekly 50% fib level(i.e. 17820) many times. Tomorrow if the market closed below it, on weekly time frame it will close below fib level and test 17660 levels. On the hourly time frame the market, remained volatile closed near the resistance zone and 61.8% Fib level. Market has been following a bearish trend, making lower highs but is taking a support around 17800 levels. There is a supply zone around the level which pushes the market up. The market, on 15 minute chart, has closed between both the moving averages. Support :- 17780-800, 17730 Resistance :- 17880, 17930, 1970 The market has been trading in a range for quite some time. Either side move can be seen in the market as today market has given a confusion candle. Wait for the price action near the price level before entering the market.
NSE:NIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 12 Jan 2023BANKNIFTY Intraday Trade Setup For 12 Jan 2023 Buy-Above 42320 Sl-42210 T- 42550 42800 Sell-Below 42000 Sl-42110 T-41730 41355 BANKNIFTY has closed on a slight bullish sentiment with more than half percent gain. It has closed near day high which is a bullish sign. This bullishness will continue above today's high. Decent contraction has happened in today's session. Contraction burst likely to happen the and below ascending triangle which can be seen in 15 Min TF. Whichever side market gives breakout be strict with trailing as market is just to volatile to handle; especially in the 1st hour. Daily candle looks a buyer's candle so below today's low aggressive selling can be seen. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 42320 then we will long for the target of 42550 and 42800. For selling we need a 15 min candle close below 42000. T- 41730 and 41355. Extended target- 41000. 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 daily analysis for 12/01/23.The market consolidated whole after the initial up move and formed a doji on the daily basis. On the hourly chart, the market took resistance from the 20 ema and closing flat near the support of 17880. There was a huge volatility and traded in a 50 points range in the second half making trouble for the option buyers. On the 15 minutes chart, the market traded around the 20 ema. Support :- 17880, 17800 Resistance :- 17930, 17970, 18030 The market has consolidated and a nice trending market can be seen tomorrow on the expiry. Wait for the price action near the price level before entering the market.
NSE:NIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 11 Jan 2023BANKNIFTY Intraday Trade Setup For 11 Jan 2023 Buy-Above 42175 Sl-42065 T- 42445 42700+ Sell-Below 41835 Sl-41945 T-41570 41250 BANKNIKFTY has closed on a bearish sentiment with 1.33% cut. Today it opened flat and sell triggered as per trade setup. It was on a selling mode since the 1st 1 Min candle. Sell triggered @ 42335 and hit both the targets; dot level targets. Trade gave more than 450 points gain. Bearish sentiment is likely to continue below today's low. Important level for upside is 42720 in hourly TF. Coming to Wednesday's trade setup, if index opens flat and 15 Min candle close above 42175 then we will long for the target of 42445 and 42700+. For selling we need a 15 Min candle close below 41835. T- 41570 and 41250. 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 daily analysis for 11/01/23.A nice break down in the Nifty and started trading below the previous low. The market has been trading below the moving average and is trading in a range. On the hourly time frame, the market took support near 17880 and recovered and closed above 17900 levels, dropping 1%. Market has been consolidating in 250 points range. If the markets break below 17800 level, lower levels will be tested. On the 15 minute chart, the market tested the 20 ema and retested the level. The market has closed below the 20 ema. Support :- 17880, 17820 Resistance :- 17970,18030 The market has given a nice bearish candle and can remain bearish for tomorrow. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 10 Jan 2023BANKNIFTY Intraday Trade Setup For 10 Jan 2023 Buy-Above 42720 Sl-42610 T- 42950 43200+ Sell-Below 42335 Sl-42445 T-42100 41860 BANKNIFTY has closed on a bullish sentiment with 0.93% gain today. Today it opened it opened with 200 points then but triggered as per trade setup @ 42265 and hit both mentioned targets. This trade gave more than 400 points gain. If BANKNIFTY sustains above today's high then we will maintain the bullish sentiment triggered today. An inverse head and shoulder formation can be spotted in 15 Min TF. It will be invalid below 42330. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 42720 then we will long for the target of 42950 and 43200+. For selling we need a 15 Min candle closes below 42335. T- 42100 and 41860. 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 daily analysis for 10/01/23.After a 3 day consecutive red candles, Market has given a green candle gaining more than 240 points and closing near 18100 level. The market took a rejection from the resistance of 18130 and if the market again crosses above the level. The market can hit the target of 18250. On the hourly time frame, the market tested the 18130 level in the first half and came for selling taking support around 18030 levels. The market closed between both the moving averages. On 15 minute time frame, the moving averages are close enough. If the markets come for buying tomorrow, bullish moving average cross over can be seen. Support :- 18030, 17900 Resistance :- 18130, 18240 The market has given a doji candle and can move either side. Wait for the price action near the price levels before entering the markets.
NSE:NIFTY
by Mambotrade