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Niftybank

Simple Trade Setup | BANKNIFTY | 06-01-2023 [INTRADAY]NSE:BANKNIFTY Trade Setup for 06-01-2023 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
Nifty daily analysis for 05/12/22.A nice trending market was there. Nifty has closed 190 lower and the volume of today are higher. The market can consolidate in the first half and move in the second half. If the markets start trading below 18k levels and sustain below the level, it can test the recent low of 17800. There is a bearish moving averages cross over, on 15 minutes and a rejection of 200 ema, on hourly chart. Support :- 17800, 17650 Resistance :- 18130, 18240 Wait for the price action near the levels before entering the markets.
NSE:NIFTY
by TheMamboMomentum
BANKNIFTY Intraday Trade Setup For 5 Jan 2023BANKNIFTY Intraday Trade Setup For 5 Jan 2023 Buy-Above 43190 Sl-43080 T- 43435 43651 Sell-Below 42855 Sl-42965 T-42555 42300 BANKNIFTY has closed on a bearish sentiment with 1.07% cut. It has closed near day low which is a bearish sentiment still on. This sentiment will continue below today's low. Today it opened almost flat and buy triggered as per trade setup which eventually hit 110 points sl. An evening star formed just after breakout. Then sell triggered below 43345 and hit all targets. This trade gave more than 450 points gain. So small loss covered and decent profit booked as per trade setup. This is the power of RR. Coming to Thursday's trade setup, if index opens flat and a 15 min candle close above 43190 then we will long for the target of 43435 and 43651. For selling we need a 15 min candle close below 42855. T- 42555 and 42300. Extended target will be 41980. 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 04 Jan 2023BANKNIFTY Intraday Trade Setup For 04 Jan 2023 Buy-Above 43500 Sl-43390 T-43725 44000 Sell-Below 43345 Sl-43455 T-43170 42990 BANKNIFTY has closed on a positive note with 0.51% gain. It has closed near day high which shows strength. This bullishness will continue above 43500 if sustained above. A good up move can be seen as it has been consolidating in the form of inside candle since last 3 consecutive sessions. But if 43150 is sustained in the downside then we can see down move. Tomorrow's best trade will be on a flat opening. Coming to Wednesday's trade setup, if index opens flat and a 15 min candle closes above 43500 then we will long for the target of 43725-75 and 44000. For selling we need a 15 Min candle close below 43345. T- 43170 and 42990. After that keep trailing. Keep a strict trailing method with RR if price action supports. 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 04/01/23.Nifty is facing resistance from the 200 ema and if market start trading above the level, good momentum can be seen. The market has been trading between both the moving averages and has closed near the 200 ema on hourly chart. Indian market has closed near good level and if global cues remain positive market can se a bullish trend and other the side it can give nice bearish quicky. The market is showing some bearish flag and pole pattern on daily time frame. Support ;- 18190, 18154 Resistance :- 18300, 18380 Market is at an interesting level. Either side move will be quite violent and 100-150 points move can be capture. Wait for the price action near the levels before entering the markets.
NSE:NIFTY
by TheMamboMomentum
BANKNIFTY Intraday Trade Setup For 3 Jan 2023BANKNIFTY Intraday Trade Setup For 3 Jan 2023 Buy-Above 43270 Sl-42160 T-43500 43725 Sell-Below 43040 Sl-43150 T-42840 42600 BANKNIFTY has closed with a bullish sentiment with 0.5% gain today. Today it opened almost flat and later buy triggered above 43210 and gave more than 150 points gain which was more than 1:1.Since last 3 trading session we have been forming consecutive inside candle in daily TF. There has been good contraction in daily and hourly TF. We are likely to give an contraction blast either side on breakout. 42800 and 42500 is very important. Keep a close eye on hourly trendlines. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 43270. A pullback is needed before BO. T- 43500 above which we will test 44000. For selling we need a 15 Min candle close below 43040.T- 42840 and 42600. 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 03/01/23.The market has taken a halt and an inside candle has been formed. The market opened gap up and after initial up move consolidated in 40 points range. On the hourly chart, market took support from the 20 ema and closed near 18200 level. The market consolidated maximum time and on 15 minute chart, took support near 200 ema level. Support :- 18190, 18155, 18100 Resistance :- 18230, 18300 The market has closed near good level and if it crosses the previous day high, nice move can be captured. Wait for the price action near the levels before entering the markets.
NSE:NIFTY
by TheMamboMomentum
BANKNIFTY Intraday Trade Setup 02 Jan 2023BANKNIFTY Intraday Trade Setup 02 Jan 2023 Buy-Above 43210 Sl-43100 T- 43500 43881 Sell-Below 42830 Sl-42940 T-42604 42378 BANKNIFTY has closed on a bearish sentiment on Friday with 0.6% cut. Monthly candle has closed and is almost flattish with just 0.57% cut. High and low of the last Monthly candle is very important. Above its high- 44155 we will resume the uptrend. Below its low- 41550 we may start a bearish price structure for short term and if this happens in the very next candle then it can create negative topping out structures in monthly TF. As of now uptrend is valid and above 41455 we can start a fresh rally. Last week candle has almost engulfed the previous red candle which is a bullish sentiment. BANKNIFTY is stronger than NIFTY. Coming to Monday's trade setup, if index opens flat and a 15 min candle closes above 43210 then we will long. T-43500 and 43880. For selling we need a 15 Min candle close below 42830. T-42600 and 42378. 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
Nifty daily analysis for 02/01/23.The new monthly session has began and the markets have shown some weakness on the monthly time frame as a bearish engulfing candle is formed. A serious rejection from 38.2% fib level on the weekly time frame is there. The market has taken a resistance from 20 DMA and closed around 18100 levels. On the hourly time frame, the market opened near the 200 ema and sell off was there from the moving average. The market has been trading near the high and a Lower High Lower Low formation on the higher time frame show some negativity. On the 15 minute time frame, the market has closed below both the moving averages and market can open lower. Support :- 18060-80, 18000 Resistance :- 18175, 18230 Wait for the price action near the level before entering the markets.
NSE:NIFTY
by TheMamboMomentum
Banknifty spot chart Analysis for 02.01.2023Banknifty standing just above a strong support of 42966. if banknifty crosses above 43113 then it may also cross 43266 and may reach to the level of 43418. between 43266 to 43418 is also an extremely strong resistance zone . If Bank Nifty crosses over 43418 then it may also cross 43571 and may reach to the level of 43713. if banknifty crosses down below 42966 then it may also cross 42814 and may reach to the level of 42671. if banknifty crosses below 42671 then it may also cross 42508 and may reach to the level of 42349. If banknifty crosses down 42349 then it take bounce back from bounce back zone. it is highly unlikely that banknifty will cross 43713 tomorrow and reach higher levels.
NSE:BANKNIFTY
by stoxway
BANKNIFTY Intraday Trade Setup For 30 Dec 2022BANKNIFTY Intraday Trade Setup For 30 Dec 2022 Buy_1-Above 43500 Sl-43390 T- 43860 44170+ Buy_2- From 42990 Sl-42880 T-43250 43500+ BANKNIFTY has closed on a bold bullish note with 1% gain. It has closed near day high which is once again a positive sign left for next trading session. This bullish momentum is likely to continue above today's high- 43500. A pullback is needed before breakout. Or else there will be issue in sl calculation as swing low will be far and due to market structure mid way a pullback can come. So 1st thing is pullback an the 2nd thing is tight trailing. As per last trade setup, buy sell an buy triggered both an gave both way profit. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 43500 then we will long for the target of 43860 and 44170+. Pullback is needed to execute this trade. If index gives a pullback in the 1st hour then it can test 42990. So we will plan for a buy from this level also. This level will work when it opens below or at today's high. 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
Nifty daily analysis for 30/12/22.The final expiry on this year has given a New year gift to all the trading communities. Nifty has formed a bullish engulfing candle and closed near to 18200 level. It is still trading between both the moving averages and after a sell has recovered very quickly. On the hourly time frame, the market has given a 110 points move in the last trading hour and closed between 20 and 200 ema. The market consolidated near the 20 ema, 15 minute chart, and after crossing the hurdle it even cross the other moving average. Support :- 18175, 18060, 18000 Resistance :- 18300, 18430 The markets opened down but regained in the second half of the session. The market can take a halt or remain volatile. Wait for the price action near the price levels before entering the markets.
NSE:NIFTY
by TheMamboMomentum