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Simple Trade Setup | BANKNIFTY | 12-02-2024 [INTRADAY]Trade Setup for 12-02-2024 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 09 Feb 2024BANKNIFTY Intraday Trade Setup For 09 Feb 2024 Sell_1- From 45650 Invalid-Above 45760 T- 45220 44900 Sell_2- Below 44890 Invalid-Above 45000 T- 44400 43915 BANKNIFTY has closed on a complete bearish note with 1.76% cut today. Since last 3 days BANKNIFTY was complete sideways between 46100 and 45500. Today range broke downside and a gave a good trendy move. Sell triggered as per trade setup below 45520 and hot 1st target 44900. Tomorrow there are two places to short one on pullback and one on continuation. Possibility of a bullish above 45650 looks less. Best trade will be on flat opening below 44890. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes below 44890 then we will short for the target of 44400 and 43915. In case it tests 45650 via a gap up move move then we will short from there. T- 45220 and 44900. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 08 Feb 2024BANKNIFTY Intraday Trade Setup For 08 Feb 2024 Bullish-Above 46070 Invalid-Below 45960 T- 46710 47420 Bearish-Below 45520 Invalid-Above 45630 T- 44915 44350 BANKNIFTY has closed on a with a slight gain of 0.28% gain today. It was another complete sideways day making it 3rd consecutive complete non-directional day with absolutely dead momentum in intraday. Nothing triggered as per trade setup today. The possible reason of momentum being contracted seems to be historic after as it generally happens in the form of IV crash/ VIX crash after a big event. Tomorrow is RBI policy so it hopefully it triggers a directional move. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 46070 then we will long for the target of 46710 and 47420. For selling we need a 15 Min candle close below 45520. T- 44915 and 44350. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
06 Feb ’24 — Nifty takes out the resistance of 21319 on lower TFNifty Analysis - Stance Neutral ➡️ Recap from yesterday: “The chart pattern is not at all bearish, in fact, it is more bullish than bearish. But we all know for an upward move, the resistance has to be knocked out whereas the support has to be breached for a downward move. For tomorrow, we wish to maintain our neutral stance and wait for some directional clues to appear.” 4mts chart Nifty does the tough job today - to take out the resistance of 21913. The real job of going bullish is so easy tomorrow, all it needs to do is hold the ground and the bulls will bring the momentum for the rally. Over the last 3 trading sessions, we witnessed 2 failures i.e on the 2nd and 5th Feb. Today against all odds, we opened at a level quite lower than this resistance area and then managed to pull up to the zone and then beat it. In a way, the slow and steady grind is much powerful as we have seen that this market rarely gives leeway to the Bears. BankNifty was not at all supporting Nifty and almost all the gains came from the NiftyIT stocks. NiftyIT closed the day with a super strong gain of 2.92%. 63mts chart The good news of the resistance break is only for the lower time frame. Nifty is still undecided on the 63mts TF and for that same reason, we wish to start the day tomorrow with a neutral bias and then go long if we have a green candle above the 21913 zone. Only if BankNifty lends support we can take out the ATH and there is no better day than the expiry day for such feats.
NSE:NIFTY
by viswaram
BANKNIFTY Intraday Trade Setup For 07 Feb 2024BANKNIFTY Intraday Trade Setup For 07 Feb 2024 Bullish-Above 46050 Invalid-Below 45940 T- 46710 47420 Bearish-Below 45520 Invalid-Above 45630 T- 44915 44350 BANKNIFTY has closed on a slight bearish note with 0.29% cut today. Sell level as per trade setup was tested multiple times but could not sustain below 45600. Index has contracted very tightly since last 2 days. It was another rangebound day. Tomorrow is expiry and after some consolidation till 12 PM between 46050 and 45500 if range breaks then we can expect some good trendy move with momentum. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 46050 then we will long for the target of 46710 and 47420. For selling we need a 15 Min candle close below 45520. T- 44915 and 44350. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 06 Feb 2024BANKNIFTY Intraday Trade Setup For 06 Feb 2024 Bullish-Above 46050 Invalid-Below 45940 T- 46710 Bearish-Below 45600 Invalid-Above 45710 T- 44915 44350 BANKNIFTY has closed on a bearish note with 0.32% cut today. It was complete sideways the whole day, traded 400 points tight range. Tomorrow we can expect directional move on today's range breakout. Both side move will be trendy and with momentum hopefully. 46050 and 45600 are important levels for tomorrow's session. High probability trade will be in downside. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 46050 then we will long for the target of 46710. For selling we need a 15 Min candle close below 45600. T- 44915 and 44350. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 05 Feb 2024BANKNIFTY Intraday Trade Setup For 05 Feb 2024 Sell_1- From 46550 Invalid-Above 46660 T- 46225 46000 Bearish-Below 45900 Invalid-Above 46010 T- 45360 44850 BANKNIFTY has closed on a bullish note last week with 2.46% gain. While it closed on a bearish note last day as 46600 is a resistance in daily TF. Breakout of the resistance will be said when a daily candle closes above 46600. Since it created a bearish sentiment last day it can be sell on rise opportunity in case it tests 46550 via gap up. 45300 will be an important intraday support zone as per 0.618 retracement in hourly TF. Coming to Monday's trade setup, if index opens flat and a 15 Min candle below 45900 then we will short for the target 45285-45300. In case it opens gap up then we will short from 46550. T- 46225 and 46000. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 02 Feb 2024BANKNIFTY Intraday Trade Setup For 02 Feb 2024 Bullish-Above 46320 Invalid-Below 46210 T- 46826 47315 Bearish-Below 45650 Invalid-Above 45760 T- 45050 44390 BANKNIFTY has closed on a on bullish note with 0.42% gain. It was sideways to bullish, complete sideways after 12 PM. Premiums crashed like anything due to VIX crashing nearly 10%. No big moves seen on event day. It has closed near day high so above 46320 tomorrow there can be good upside move till 46826 as per ABCD plotted. In case it breaks 45650 is broken then there can be good selling. Coming to Friday's trade setup, if index opens flat and a 15 Min candle close above 46320 then we will long for the target of 46826 and 47315. For selling we need a 15 Min candle close below 45650. T- 45045 and 44390. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
1
BANKNIFTY Intraday Trade Setup For 01 Feb 2024BANKNIFTY Intraday Trade Setup For 01 Feb 2024 Bullish-Above 46180 Invalid-Below 46070 T- 47250 48182 Bearish-Below 45070 Invalid-Above 45180 T- 44000 BANKNIFTY has closed on a positive note with a 1.39% gain today. It opened flat and tested the sell level which was range low. It took support and buy triggered later above 45680 and hit 1st target very smoothly (45680-46179). Its a big event tomorrow and moves will be random and will be decided by announcement made by FM. I will personally avoid trading tomorrow and will suggest either not trade with very small position size. Coming to Thursday's trade setup, if index opens flat and a 15 Min candle closes above 46180 then we will long for the target of 47250 and 48182. For selling we need a 15 Min candle close below 45070. T- 44000. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 31 Jan 2024BANKNIFTY Intraday Trade Setup For 31 Jan 2024 Bullish-Above 45680 Invalid-Above 45570 T- 46155 46650 Bearish-below 45200 Invalid-Above 45310 T- 44690 44250 BANKNIFTY has closed on a slight bearish note with 0.16% cut. It was complete sideways market within previous day's range. Nothing triggered as per trade setup. It has formed a spinning top candle in daily TF which can trigger a good down move below 45200. Below 45200 it may test hourly support zone 44400. Also it has formed a range between 45700 and 45200. So above 45700 then can be a good up move. Probability of a down side trigger looks high. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 45680 then we will long for the target of 4615 and 46650. For selling we need a 15 Min candle close below 45200. T- 444690 and 44250. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 30 Jan 2024BANKNIFTY Intraday Trade Setup For 30 Jan 2024 Bullish-Above 45680 Invalid-Below 45570 T- 46155 46650 Bearish-Below 45110 Invalid-Above 45220 T- 44450 43845 BANKNIFTY has closed on a bullish note with 1.28% gain today. In the weekend we discussed that index has formed a base near 44400 zone and there is a high possibility of extending bounce above 45150. Today buy triggered above 45150 and gave a move till 45660. now next leg of rally towards 46600 zone will be triggered above 45680 or else there is chance of slip too. 45110 is the level for a downside trigger. Coming to Tuesday's trade setup, if index opens flat and a 15 min candle closes above 45680 then we will long for the target of 46155 and 46640. For selling we need a 15 min candle close below 45110. T- 44450 and 43850. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 29 Jan 2024BANKNIFTY Intraday Trade Setup For 29 Jan 2024 Bullish-Above 45150 Invalid-Below 45040 T- 45780 46350 Bearish-Below 44400 Invalid-Above 44510 T- 43845 46220 BANKNIFTY has closed on a bearish note with 2.59% cut last week. After a good down move from ATH it has came down till a confluence level of gap area. 44400 is a base zone and and we have seen 2 bounces from this support zone. Now this bounce may be extended till further higher levels , near 44400. It has formed a Pinbar candle in daily TF so above 45150 this move towards 46400 zone can be triggered. But below 44400 this will continue the downtrend. Coming to Monday's trade setup, if index opens flat and a 15 Min candle closes above 45150 then we will long for the target of 45780 and 46350. For selling we need a 15 Min candle close below 44400. T- 43845 and 43221. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 25 Jan 2024BANKNIFTY Intraday Trade Setup For 25 Jan 2024 Bullish-Above 45500 Invalid-Above 45390 T- 46135 46700 Bearish-Below 44480 Invalid-Above 44590 T- 43855 43280 BANKNIFTY has closed almost on a flat note with a minor gain of 0.15%. Yesterday we in the trade setup we discussed that there is a high probability of a pullback to the impulsive down mov. It opened with a decent gap down and the pullback move initiated from 9:15 candle itself. Also in daily TF it opened at 0.618. A bounce can be expected from this region so above 45500 there can be another leg of rally. Below 44480 once again strong bearish move will be seen. Coming to Thursday's trade setup, if index opens flat and a 15 in candle closes above 45500 then we will long for the target of 46135 and 46700. For selling we need a 15 min candle close below 44480. T- 43855 and 43280. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 24 Jan 2024BANKNIFTY Intraday Trade Setup For 24 Jan 2024 Sell_1- From 46150 Invalid-Above 46260 T- 45515 45000 Sell_2- Below 44880 Invalid-Above 44990 T- 44180 43570 BANKNIFTY has closed on a bold bearish note with 2.26% cut today. It opened with a big gap up today and as per trade setup 10 o'clock range was to be followed. Range broke downside below 45980 and gave a big trendy move till 44887. Yesterday it was said that index may give a bullish move but I clearly said that I doubt it will sustain. Tomorrow there can be an pullback of today's impulsive move or there is a chance of a halt candle in daily TF. 0.382 of yesterday's range will be first confluence level. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes below 44880 then we will short for the target of 44180 and 43570. In case 46150 is tested via gap up move then we will short. T- 45500 zone. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 23 Jan 2024BANKNIFTY Intraday Trade Setup For 23 Jan 2024 Bullish-Above 46250 Invalid-Below 46140 T- 46915 47550 Bearish-below 45430 Invalid-Above 45540 T- 44750 44180 BANKNIFTY has closed on a bearish note with 3.46% cut last week but on a positive note last trading session. 45400 is an important support in daily TF below this new bearish impulsive move will be triggered. 46250 looks an important hourly resistance above this there can be a bullish move but I doubt weather it can sustain for 1-2 days. 46915-50 can act as a strong intraday supply zone. One can look for a bearish reversal price structure above 46915 for a short following current trend. 46250 and 45430 are important levels for tomorrow's session. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 46250 then we will long for the target of 46915 and 47550. For selling we need a 15 Min candle close below 45430. T- 44750 and 44180. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
Nifty Bank - Downward Breakout Confirmation?Key Points: Nifty Bank currently at 46000, a key resistance area. Previous attempt to break resistance resulted in sideways consolidation (distribution phase). Recent breakdown with volume suggests potential bearish continuation. Wait for pullback towards 46300 for confirmation and short entry. Technical Analysis: Resistance zone around 46000 previously tested and failed. Sideways movement for months indicates distribution of holdings. Breakout with volume on the downside confirms bearish momentum. Strategy: Bearish: Enter short position if Nifty Bank pulls back to 46300 with confirmation (e.g., bearish candlestick pattern). Set stop-loss above 46600 to limit potential losses. Target initial downside levels at 45400 and 44800. Neutral: Wait for further confirmation of the breakdown before taking a position. Monitor price action and volume to assess strength of bearish momentum. Disclaimer: This is for informational purposes only and not financial advice. Always do your own research before making investment decisions.
NSE:BANKNIFTYShort
by TRADING-NASA
BANKNIFTY Intraday Trade Setup For 19 Jan 2024BANKNIFTY Intraday Trade Setup For 19 Jan 2024 Bullish-Above 46190 Invalid-Below 46080 T- 46870 47525 Bearish-Below 45430 Invalid-Above 45540 T- 44750 44180 BANKNIFTY has closed on a bearish note once again with 0.76% cut today. It opened with a big gap down today also, opening was directly near our 1st sell target. 10 o'clock range was to be used as per trade setup, range broke upside above 45825 and gave a move till 46184. It has formed an inverted hammer in daily TF near hourly support zone - 45400. Swing lengths have increased due to spike in VIX so be very strict with risk and rewards. 46190 and 45430 are important levels for tomorrow's session. Coming to Friday's trade setup, if index opens flat and a 15 Min candle closes above 46190 then we will long for the target of 46870 and 47525. For selling we need a 15 Min candle close below 45430. T- 44750 and 44180. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 18 Jan 2024BANKNIFTY Intraday Trade Setup For 18 Jan 2024 Sell_1- From 47215 Invalid-Above 47325 T- 46610 46000 Sell_2- Below 45970 Invalid-Above 46080 T- 45350 44750 BANKNIFTY has closed in deep red today with 4.28% cut. This is one of the biggest intraday fall in the recent months. It opened with a big gap down today and 10 o'clock range was to be used as per trade setup. Range broke downside below 46530 and gave a move till 45980. Tomorrow once again there can be good fall below 45970. Incase today's low is safe and opens with slight gap up/down or flat then there is a possibility of pullback is high. Coming to Thursday's trade setup, if index opens flat and a Min candle closes below 45970 then we will short for the target of 45350 and 44750. 2nd sell position can be considered 47220. T- 46610 and 46000. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
BANKNIFTY Intraday Trade Setup For 18 Jan 2024BANKNIFTY Intraday Trade Setup For 18 Jan 2024 Bullish-Above 48310 Invalid-Below48200 T- 48620 68950 Bearish-Below 48000 Invalid-Above 48110 T- 47700 47445 BANKNIFTY has closed almost on a flat note today. It has formed a shooting star candle in daily TF which indicates a bearish sentiment. If you can remember our weekend analysis where we discussed that index may give a pullback move before any fresh up move. Probability of a Higher Low is high. Index may test 474450 or 47500 zone as per half bat pattern. This pullback/down move will be triggered below 48000. Above 48310 there can be good up move. Coming to Wednesday's trade setup, if index opens flat and a 15 Min candle closes above 48310 then we will long for the target of 48620 and 48950. For selling we need a 15 Min candle close below 48000. T- 47700 and 47445. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto
Bank Nifty Support and Resistance Levels (17/01/2024)Bank Nifty Support and Resistance Levels (17/01/2024) #### Support Levels: 1. **Support Level 1:** 48,000 2. **Support Level 2:** 47,800 - If the market breaks below 48,000, it could signal potential downside movement. #### Upside Resistance Levels: 1. **Resistance Level 1:** 48,213 - Waiting for sustained movement above 48,200 could signal a potential upside move. 2. **Resistance Level 2:** 48,300 3. **Resistance Level 3:** 48,400 - These levels represent potential barriers for upward movement. ### Technical Analysis Insights: - **Support Zones:** 48,000 and 47,800 are crucial areas where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zones:** 48,213, 48,300, and 48,400 are anticipated to be key levels where selling pressure might intensify, limiting immediate upward movements. - **Breakdown Caution:** Trading below 48,000 might signify increased bearish sentiment and could lead to further downside movement. - **Upside Breakout Confirmation:** Waiting for sustained movement above 48,200 could indicate a potential move towards higher resistance levels, but confirmation is essential.
NSE:BANKNIFTYLong
by santubittu
BANKNIFTY Intraday Trade Setup For 16 Jan 2024BANKNIFTY Intraday Trade Setup For 16 Jan 2024 Bullish-Above 48250 Invalid-Below 48140 T- 48620 48950 Bearish-Below 48020 Invalid-Above 48130 T- 47700 47445 BANKNIFTY has closed on a bullish note with almost 1% gain today. In the weekend analysis we discussed that BANKNIFTY may form a higher low and then confirm the next bullish move. In this case index may give a pullback if 48000 is taken out in downside. 47700 will act as an intraday support being gap closing price. In case it sustains above today's high then we will test 48621 and that will be an intraday resistance. Coming to Tuesday's trade setup, if index opens flat and a 15 Min candle closes above 48250 then we will long for the target of 48620 and 48950. For selling we need a 15 min candle close below 48020. T- 47700 and 47445. In case of a big gap up/down, wait till 10 o'clock and mark the high and low of the trading range (5MIN). Trade on this range breakout. ========== I am Not SEBI Registered This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
NSE:BANKNIFTY
by Omahto