Simple Trade Setup | BANKNIFTY | 27-04-2023 [EXPIRY] NSE:BANKNIFTY
Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it.
Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout.
Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown.
All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL.
Good trade setup with good Risk reward will be only if we enter from any of zone.
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Trade Setup for 27-04-2023
Most of all the levels and zones remains same as per previous.
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.
Niftybankexpiry
Simple Trade Setup | BANKNIFTY | 20-04-2023 EXPIRY [INTRADAY]NSE:BANKNIFTY
Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it.
Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout.
Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown.
All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL.
Good trade setup with good Risk reward will be only if we enter from any of zone.
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Trade Setup for 20-04-2023
Most of all the levels and zones remains same as per previous.
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.
Simple Trade Setup | BANKNIFTY | 06-04-2023 [EXPIRY]NSE:BANKNIFTY
Flip zone: : This zone is such a zone which will work as resistance if price is below it. And it will work as support if price is trading above it.
Resistance zone: This zone will mainly work as resistance. Once price sustain above it then it is considered as breakout.
Support zone: This zone will mainly work as support. Once price sustain below it then it is considered as breakdown.
All other levels between zones are such a level that you can scalp from it , book partial/full profit and also use it as trailing SL.
Good trade setup with good Risk reward will be only if we enter from any of zone.
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Trade Setup for Last week of March 2023
Most of all the levels and zones remains same as per previous.
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.
Simple Trade Setup | BANKNIFTY | 22-12-2022 EXPIRY [INTRADAY]NSE:BANKNIFTY
Trade Setup for 22-12-2022
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.
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.
Simple Trade Setup | BANKNIFTY | 08-09-2022 [INTRADAY]NSE:BANKNIFTY
Considering volatility in market , giving all the possible big levels for ready reference.
Trade Setup for 08-09-2022
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.
Simple Trade Setup | BANKNIFTY | 25/08/2022 [INTRADAY]NSE:BANKNIFTY
Trade Setup for 25-08-2022
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.
Simple Trade Setup | BANKNIFTY | 04-08-2022 [INTRADAY]NSE:BANKNIFTY
Trade Setup for 04-08-2022
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.
Simple Trade Setup | BANKNIFTY | 14-07-2022 [INTRADAY]NSE:BANKNIFTY
Trade Setup for 14-07-2022
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.
Simple Trade Setup | BANKNIFTY | 30-06-2022 [INTRADAY]NSE:BANKNIFTY
Observations:
1) On 15min time frame, we can see that it has been staying in range during the intraday trading since last two trading session.
For simple trading on expiry keep high and low of today and keep it simple to buy above today's high and sell below today's low
Please refer below chart : 15min time frame.
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Trade Setup for 30-06-2022
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.
Simple Trade Setup | BANKNIFTY | 28-04-2022 [INTRADAY]NSE:BANKNIFTY
Trade Setup for 28-04-2022
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.
Simple Trade Setup | BANKNIFTY | 13-04-2022 [INTRADAY]Trade Setup for 13-04-2022
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.
Simple Trade Setup | BANKNIFTY | 07-04-2022 [INTRADAY]NSE:BANKNIFTY
Observations:
1) On 15min time frame we can see a support channel.
Please refer below chart : 15 min time frame.
2) If we apply FIB retracement on 1 DAY time frame, then we can see 37200 as immediate support level.
Please refer below chart : 1 day time frame.
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Trade Setup for 07-04-2022
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.
Simple Trade Setup | BANKNIFTY | 31-03-2022 [INTRADAY]NSE:BANKNIFTY
Trade Setup for 31-03-2022
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.
Simple Trade Setup | BANKNIFTY | 24-03-2022 [INTRADAY]NSE:BANKNIFTY
Observations:
1) On 15min time frame, we can watch bullish flag and pole pattern.
Please refer below chart : 15min Time Frame.
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Trade Setup for 24-03-2022
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.
Simple Trade Setup | BANKNIFTY | 24-02-2022 [INTRADAY]NSE:BANKNIFTY
Observations:
1) On 1day time frame, it closed just above 100EMA.
100DMA is placed at 37355 level.
Please refer below chart : 1day Time Frame.
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Trade Setup for 24-02-2022
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.
Simple Trade Setup | BANKNIFTY | 10-02-2022[INTRADAY]NSE:BANKNIFTY
Observations:
1) On 1day time frame, it again gave closing above resistance channel with good bullish candle.
Please refer below chart : 1day Time Frame.
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Trade Setup for 10-02-2022
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.
Simple Trade Setup | BANKNIFTY | 03-02-2022 [INTRADAY]NSE:BANKNIFTY
Observations:
1) On 1 day time frame, It gave breakout of the channel as well as resistance zone of 38900-39200.
Now next major resistance zone is at 39500-39575 range.
Please refer below chart : 1day Time Frame.
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Trade Setup for 03-02-2022
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.
Simple Trade Setup | BANKNIFTY | 16-12-2021[ INTRADAY ]NSE:BANKNIFTY
Since Tomorrow is expiry, hence only considering safe buy trade above 37020 sustainable breakout.
Trade Setup for Date: 16-12-2021
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.
Simple Trade Setup | BANKNIFTY | 09-12-2021 [ INTRADAY]NSE:BANKNIFTY
Observations:
1) On 1day time frame,Today, it trade above 10DMA.
But face resistance from 21DMA.
10DMA is support now and 21DMA is immdiate resistance now.
10DMA is placed at 36377.13
21DMA is placed at 37348.94
Please refer below chart : 1 day Time Frame.
2) On 1 hr time frame, we can see that it has given the breakout of resistance channel.
Please refer below chart : 1 hr Time Frame.
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Trade Setup for Date: 09-12-2021
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.
Simple Trade Setup | BANKNIFTY | 02-12-2021 [ INTRADAY]NSE:BANKNIFTY
Observations:
1) On 1day time frame, after holding 200DMA yesterday, it bounce it from it and made bullish candle.
200 DMA is placed at 35709.24 level, which is major support now.
Please refer below chart : 1 day Time Frame.
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Trade Setup for Date: 02-12-2021
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 trend forecasting using Elliott Wave Principle
Price has made extreme high, and impulse moves have started a correction. According to Elliott wave price confirmation, Safe traders can enter when the price breaks wave B at 40160 .
Sub-wave C of wave 4 is about to complete. If price breaks wave B, It has the potential to make a new high.
At present, the price has neither made higher-lows nor sub-waves of wave 5. If the trader wants an early entry with a small stop-loss, traders must wait for wave ((2)) sub-wave of wave 5.
The common retracement of wave '2' is 61.8 %, and wave '2' never overlaps the starting point of wave ((1)).
If the bank nifty starts to move downward, it will make a new leg then start marching upward.
Stay in touch for regular updates.
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Thank you.
Quote of the day
"If you can learn to create a state of mind that is not affected by the market's behavior, the struggle will cease to exist."- Mark Douglas
Simple Trade Setup | BANKNIFTY | 11-10-2021 [ INTRADAY]NSE:BANKNIFTY
Observations:
1) On daily time frame, if we put FIB retracement then we can see that it stayed between 50% and 61.80% level of FIB RETRACEMENT.
Please refer below chart : 1 day Time Frame.
2) On 1hr time frame we can see that it is just above the upper trendline of parallel channel.
Please refer below chart : 1 hr Time Frame.
3) On 15min Time frame, we can see it has been trading in decending triangle pattern.
If it gives breakdown below then it will be bearish and if it gives breakout of the triangle wedge then it will be bullish.
Please refer below chart : 15min Time Frame.
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Trade Setup for Date 11-11-2021:
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.