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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 Mambotrade
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 Mambotrade
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 Mambotrade
BANKNIFTY Intraday Trade Setup For 29 Dec 2022BANKNIFTY Intraday Trade Setup For 29 Dec 2022 Buy-Above 43035 Sl-42925 T-43245 43510 43770 Sell-Below 42690 Sl-42800 T-42530 42385 42200 BANKNIFTY has closed on a absolute flat note. Today's closing is evident to tell what type of sentiment it was there in today's session. It was total sideways as it was near 43000 round level. Today buy triggered above 42930 and gave more than 1:1. It was mentioned in the trade setup that 43k is round level and effect will be seen. Today it traded within 340 points and formed a tiny candle in daily chart. Above its high and low next movement will be triggered. Coming to Thursday's trade setup, if index opens flat and a 15 min candle closes above 43035. T- 43245, 43510 and 43770. For selling we need a 15 min candle close below 42690. T- 42530, 42385 and 42200. 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 29.12.2022Banknifty standing inside a strong resistance zone of 42814 to 42966. if banknifty crosses above 42966 then it may also cross 43313 and may reach to the level of 43266. 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 42814 then it may also cross 42671 and may reach to the level of 42508. if banknifty crosses below 42508 then it may also cross 42349 and may reach to the level of 42191. If banknifty crosses down 42191 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
Nifty daily analysis for 29/12/22.Nifty has been constantly taking resistance from the golden ratio, forming a gravestone doji on the daily basis. The market today remain in a 100 point range and closed flat. Tomorrow, let the market show some clear trend and watch for the option premium as it is last expiry of 2022. On the hourly time frame, the market has traded near the 20 ema and closed between both the moving averages. The market, on 15 minute time frame, has closed below the moving averages and has given a fakeout of 18150 level. Support :- 18080, 17980 Resistance :- 18080, 18300 Wait for the price action near the levels before entering the markets.
NSE:NIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 28 Dec 2022BANKNIFTY Intraday Trade Setup For 28 Dec 2022 Buy-Above 42930 Sl-42820 T-43245 43510 Sell-Below 42720 Sl-42835 T- 42400 42055 BANKNIFTY has closed on a slight positive note with 0.54% gain. It has closed near day high which is a positive sentiment. This bullish sentiment will continue if it sustains above today's high. Today it opened near PDH and fell sharply, around 500 points. Sell was triggered below 42530 and gave more than 1:1 profit. Later it made a Pinbar candle in 15 Min TF and made a bottom later it was converted into a double bottom. If today's high is sustained then we can test 43770 in the coming days. Below 42390 we can slide lower. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 42930. T- 43245, 43510 and 43770. 43000 is very important and have to be keenly watched. For selling we need a 15 Min candle close below 42720. T- 42055. Below 42000 we can test 41820 and 41600. 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 28/12/22.Nifty has given a dragon fly doji on the daily time frame and has closed near 50% fibonnaci level. The market has taken a support from 200 ema and gained a nice momentum. Nifty has been lagging behind the other index. On the hourly time frame, the index has started trading above the 20 ema and closed between both the moving averages. On 15 minute time frame, the market took support from the 20 ema and closed in between the EMA's. Support :- 18080, 17980 Resistance :- 18080, 18300 The marekt has been closing in green in two consecutive days gaining 320 points. Wait for the price action near the level before entering the markets.
NSE:NIFTY
by Mambotrade
BANKNIFTY Intraday Trade Setup For 27 Dec 2022BANKNIFTY Intraday Trade Setup For 27 Dec 2022 Buy-Above 42850 Sl-42740 T-43010 41180 43390 Sell-Below 42530 Sl- 42640 T-42290 42055 BANKNIFTY has closed on a positive note with 2.31% gain. It has formed a big bullish engulfing candle in daily TF. We discussed yesterday that 41500 juncture is very important and can act as a base. Today it opened near the same region and buy triggered as per trade setup and a hit all targets. Buy triggered above 41845 and gave a move till 42845. No TSL hit in 5 Min charts. It was a bounce from 0.382 Fib level in daily TF. Tomorrow's best trade will be on flat opening. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle close above 42850 then we will long for the target of 43010 and 43177. For selling we need a 15 Min candle close below 42530. Target will be 42290 and 42055. 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