Nifty trading levels for 11/10/2022Nifty important levels for 11/10/2022
support and resistence levels
Niftybank
Nifty Trading Plan For The WeekNifty has been moving in volatile upswings and downswings for sometime now.
It broke above the psychological barrier of 17,200 last week , opened below that today but bulls eventually took control and closed it above the resistance of 17,200 which shows buying pressure. Also, last week's breakout was pretty strong so expect one more leg to the upside towards the highs created last week.
Cheers!
Banknifty spot chart analysis for 11.10.2022Banknifty standing above a strong resistance zone of 39108.
if banknifty crosses above 39108 then it may reach to the level of 39301.
between 39301 to 39483 is also an extremely strong resistance zone.
If Bank Nifty crosses over 39483 then it may also cross 39632 and may reach to the level of 39798.
if banknifty crosses down below 39108 then it may also cross 38947 and may reach to the level of 38781.
if banknifty crosses down below 39108 then it may also cross 38947 and may reach to the level of 38781.
if banknifty crosses down below 38781 then it may take support on 38608, 38608 is an extremely strong support.
it is highly unlikely that banknifty will cross 39802 vtomorrow and reach higher levels.
Nifty daily analysis for 11/10/22Nifty on the daily time frame has given a nice bullish candle after initial gap down.
The market remained in a bullish moment in the initial hour of the session and consolidated in the second half of the session.
On the 15 minute time frame, the moving averages are close enough and both the moving averages are around 17212.
The market is still in the confusion and clear trend is not defined .
Support :- 17230, 17170, 17070
Resistance :- 17260, 17300, 17360
The market is taking support from 50% Fibonacci level on the daily candle. If the market closes above the 20 ema on the daily time frame, the market can give a nice up move.
Wait for a price action near the price levels before entering the markets.
Simple Trade Setup | BANKNIFTY | 11/10/2022 [INTRADAY]NSE:BANKNIFTY
All the levels and setup remains same. You can see all the levels and zones are working perfectly. Hope you are taking proper trades and making moneeeeeeeeeyyyyyyy.
Trade Setup for 11-10-2022
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.
BANKNIFTY Intraday Trade Setup For 11 Oct 2022BANKNIFTY Intraday Trade Setup For 11 Oct 2022
Buy-Above 39320
Sl-39200
T-39500 39650 40000
Sell-Below 38845
Sl-38955
T-38520 38280 38000
BANKNIFTY has closed with a minor cut of 0.22%. Today's sentiment is bullish as it has closed dear day high and a sharp recovery was seen after opening. It directly opened at our sell trade's first target. As usual bounce came from support zones. 10 o'clock range broke upside @ 38815 and we got a clear cut move till 39300. This up move will continue if it sustains above today's high.
Coming to tomorrow's trade setup, if index opens flat and a 15 Min candle closes above 39315 then we will long for the target of 39500, 39650 and last target will be near 40000.
For selling we need a 15 Min candle close below 38845. Target will be 38518, 38280 and last target will be near 38000.
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.
BANKNIFTY 1Hr Chart AnalysisBank Nifty Analysis on 1 Hr chart. Candles should close Above or Below on Hourly Chart.
Trade with Diligency.
Nifty weekly analysis for 10/10/22.Nifty has formed another doji on a weekly time frame. Though, market has gained 200 points on the weekly time frame, daily gap up and gap down are not giving any intraday opporunities.
The market has closed just below the 20 DMA.
Nifty, on the hourly time frame, is stuck between the 20 and 200 emas. In the second half on the trading session the market gave a nice up move.
Indian markets follow the global markets and SGX nifty has closed 240 points lower.
Nifty in trading above the moving averages on 15 minute time frame.
Support:- 17230, 17170, 17060
Resistance :- 17360, 17410
The negative global markets are showing another gap down for indian markets. I would suggest to avoid intraday trades in the indices.
Wait for any price action near the price action near the levels before entering the markets.
Simple Trade Setup | BANKNIFTY | 10-10-2022 [INTRADAY]NSE:BANKNIFTY
Trade Setup for 10-10-2022
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.
Banknifty spot chart analysis for 10.10.2022Banknifty standing above a strong support zone of 39108.
if banknifty crosses above 39301 then it may reach to the level of 39483.
between 39483 to 39632 is also an extremely strong resistance zone.
If Bank Nifty crosses over 39632 then it may also cross 39798 and may reach to the level of 39954.
if banknifty crosses down below 39108 then it may also cross 38947 and may reach to the level of 38781.
if banknifty crosses down below 39108 then it may also cross 38947 and may reach to the level of 38781.
If banknifty crosses down 38608 then it take bounce back from bounce back zone.
it is highly unlikely that banknifty will cross 39954 vtomorrow and reach higher levels.
BANKNIFTY Intraday Trade Setup For 10 Oct 2022BANKNIFTY Intraday Trade Setup For 10 Oct 2022
Buy-Above 39240
Sl-39125
T-39437 39600+
Sell-Below 39805
Sl-39920
T-38570 39300
BANKNIFTY has closed almost flat on Friday as NIFTY did. A range has been formed on the last trading session. That will be used to build our next day's intraday setup. Broader weekly range is 41850 and 37380. A parallel channel is being followed in hourly TF, keep an eye on that. Important support in hourly TF is 38800. Below this trendline will be broken.
Coming to Monday's trade setup, if index opens flat and a 5/15 Min candle closes above 39240 then we will long for the target of 39437 and 39600. If 39610 is sustained we will head towards 39815 and 40040. A pullback is needed before breakout.
For selling we need a 5/15 Min candle close below 38805. Post breakdown target will be 38570 and 38300. If fall is sustained then we may test 37950 as 38800 is important support in hourly TF. Index will be weak below 38950.
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.
BANKNIFTY Intraday Trade Setup For 7 Oct 2022BANKNIFTY Intraday Trade Setup For 7 Oct 2022
Buy-Above 39405
Sl-39290
T-39600 39815 40040
Sell-Below 39230
Sl-39345
T-39050 38877 39600
BANKNIFTY has closed with slight gain which is contributed only by gap up. It opened with a huge gap up and traded inside a range almost the whole day. 10 o'clock range broke upside and gave 75 points. The daily candle is a shooting star which indicates a selling pressure. Below today's low a down side move will come and upside move will be paused below PDL.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes below 39230 then we will short for the target of 39050, 38877 and extended target will be 38570.
For buying one should wait till a 15 Min candle closes above 39610. Aggressive traders can long above 39405 for 120-150 points target.
Be strict with RR targets with proper trailing.
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.
Banknifty spot chart analysis for 07.10.2022Banknifty standing inside in a strong resistance zone of 39301 to 39483.
if banknifty crosses above 39483 then it may also cross above 39632 and may reach to the level of 39798.
between 39798 to 39954 is also an extremely strong resistance zone .
If Bank Nifty crosses over 39954 then it may reach to the level of 40120.
if banknifty moves down below 39301 then it may reach to the level of 39108, 39108 is a strong support.
if banknifty crosses down below 39108 then it may also cross 38947 and will reach to the level of 38781.
If banknifty crosses down 38781 then it take bounce back from bounce back zone.
it is highly unlikely that banknifty will cross 40120 tomorrow and reach higher levels.
Postmortem on #BankNifty - 06 OCT 2022 - Weekly Expiry Bank nifty opened 39343 right at the resistance line made a long wick 5mts 1st candle. The 2nd candle broke the SR line. At 09.40 after seeing the red candle i assumed BN will trade lower and exited the 39500 iron fly at the cost price.
I was not expecting BN to go up and the 4 candles from 09.45 to 10.00 really surprised me. And all the trade that happened till 12.55 was against the trades i had in my mind. The reason i thought BN would not go up was because of the long wick and the immediate break in SR during the first 15 to 20mts.
The trades from 13.00 to close was something that really comforted me. Eventhough i did not make big money trading today’s expiry - the closing price action was inline with the opening pattern.
Again all these trades would be positional as it was the weekly expiry, to know if the trend is continuing or not we need to watch the trades of tomorrow & monday.
For traders who would have taken an intraday straddle or strangle - there is a high possibility that their stop loss would have been hit. If for some reason they forgot to put the SL or simply didnt have one - they would have made money as the opening & close was almost the same.
5mts TF shows no specific direction. If tomorrow also BN stays in this range - then i would prefer to plan for a range bound expiry for 13th.
15mts TF shows a W bottom pattern
1hr TF shows the W pattern with much more clarity.
This need not be taken so seriously as BN just came out from a double top M pattern last week. So we would need to wait for further sessions to confirm if its trend continuation or reversal.
Bank nifty important support and resistance lines
s1:38698, s2: 37946
r1: 39326, r2: 39739
Thanks for reading Viswaram Finance! No recommendations, No predictions !
Simple Trade Setup | BANKNIFTY | 07-10-2022 [INTRADAY]NSE:BANKNIFTY
Observations:
1) On 1D TF we can see for recent down trend it has covered almost 50% of that move as per FIB retracement.
Please refer below chart : 1D time frame.
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Trade Setup for 07-10-2022
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.
#NIFTY Intraday Support and Resistance Levels - 06/10/2022Nifty will be gap up opening in today's session. After opening nifty sustain below 17400 level and then possible upside rally upto 16550+ in today's session. in case nifty trade below 17300 level then short target can go up to 17150 level.
BANKNIFTY Intraday Trade Setup For 6 Oct 2022BANKNIFTY Intraday Trade Setup For 6 Oct 2022
Buy-Above 39180
Sl-39065
T-39413 39731 40040
Sell-Below 38875
Sl-38985
T-38570 38277 38000
BANKNIFTY has closed on a positive note with 2.84% gain. After our short trade's (40280-37850) tsl was hit in index @ 37850 since then index has started recovery. Hourly swing high 38811 was broken on 4 Oct, this has initiated the pullback of the down move we saw previously. This pullback can extend till 40040-40370. Till previous day low (PDL) is safe in closing basis then this pullback move will be intact. Next downside move will come below 37380 or till any fresh shorting price action is spotted.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes above 39180 then we will long for the target of 39413, 39731 and extended target will be 40040.
For selling we need a 5/15 Min candle close below 38877. Target will be 38570, 38277 and extended target will be 38000.
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.
Simple Trade Setup | BANKNIFTY | 06-10-2022 [INTRADAY]NSE:BANKNIFTY
Giving some big range levels in case if there is big gap up/down opening.
Trade Setup for 06-10-2022
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.
Banknifty spot chart analysis for 06.10.2022Banknifty standing on a strong resistance zone of 39108.
if banknifty crosses above 39108 then it may reach to the level of 39301.
between 39301 to 39483 is also an extremely strong resistance zone.
If Bank Nifty crosses over 39483 then it may also cross 39632 and may reach to the level of 39789.
if banknifty moves down from where it left off then it may also cross 38947 and may reach to the level of 38781.
if banknifty crosses down below 38781 then it may take support on 38608, 38608 is an extremely strong support.
If banknifty crosses down 38608 then it take bounce back from bounce back zone.
it is highly unlikely that banknifty will cross 39954 tomorrow and reach higher levels.
#NIFTY Intraday Support and Resistance Levels - 04/10/2022Nifty will be gap up opening in today's session. Expected opening above 17050 level and 17050 to 17150 level is the consolidation range and if nifty break 17150 level this level then possible upside rally upto 17300+ in today's session. in case nifty trade below 17050 level then short target can go up to 16900 - level.
BANKNIFTY Intraday Trade Setup For 4 Oct 2022BANKNIFTY Intraday Trade Setup For 4 Oct 2022
Buy-Above 38390
Sl-38280
T-38560 38800
Sell-Below 37960
Sl-38070
T-37690 37400
BANKNIFTY has closed with 1.56% cut and formed an inside candle in daily TF. Breakout of the mother candle's range will give us a move either side. Last we planned to short below 37530 this trade worked perfectly but it opened with a big gap down. So we already planned to trade 10 o'clock range breakout in case of gap up/down. It broke downside and gave a move but with huge volatility.
Coming to tomorrow's trade setup, if index opens flat and a 5/15 Min candle closes below 37960 then we will short for the target of 37690 and 37400. A pullback before breakdown is needed.
For buying we need a 15 Min candle close above 38400. 1st target will be 38560 then 38800+.
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.
BANKNIFTY Intraday Trade Setup For 3 Oct 2022BANKNIFTY Intraday Trade Setup For 3 Oct 2022
Buy-Above 38815
Sl-38700
T-39000 39200
Sell-Below 38530
Sl-38650
T-38200 37889
BANKNIFTY has closed on a positive note and formed a bullish engulfing candle on Friday. On Friday our TSL for short trade was triggered as previous high was tested in 15 Min TF. This trade gave us a fantastic straight move below our shot level (40280-37850). Next selling pressure will resume below Friday's low- 37380. We need more price action to make a fresh directional move upside.
Coming to Monday's trade setup, if index opens flat and a 15 min candle close above 38811, then we will long for the target of 39000 and 39200+.
For selling we need a 15 Min candle close below 38530. Target will be 38200 and 37889.
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.
Banknifty spot chart analysis for 03.10.2022Banknifty standing above an extremely strong support of 38608.
if banknifty moves above from where it left off then it may easily cross 38781. and may reach to the level of 38947.
between 38947 to 39108 is also an extremely strong resistance zone.
If Bank Nifty crosses over 39108 then it may also cross 39301 and may reach to the level of 39483.
if banknifty crosses down below 38608 then it may reach to the level of 38404, 38404 is a strong support.
if banknifty crosses down below 38404 then it may also cross 38209 and will reach to the level of 38023.
If banknifty crosses down 38023 then it take bounce back from bounce back zone.
it is highly unlikely that banknifty will cross 39483 tomorrow and reach higher levels.
