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Bang ON Levels for Bank Nifty :- 12th Feb'2020.Bank Nifty Trading Strategy for 12th Feb'2020:- From telegram's BNTrading. Today was a short squeeze in 1 hour with a range-bound for the rest of the day. The BN opened (31230) in our resistance level (31183-31260) and crossed above the zone in first min itself, which is technical buy and entered into monthly resistance zone ( 31380-31480) and overshoot the zone (Day high 31505) and profit was booked in resistance zone. As the 1st-hour momentum was high and the price was above the pivot zone, we didn't initiate any short position (ideal short was below 31380 was breached). What I said yesterday “I am bearish on BN until we close above 31,260, technically the trend has changed below 31113. It opens the downsize target of 30761.”, As we have closed above 31260, the trend has changed to positive. Trend reversal will happen only below 3113. ## Daily/Weekly/Monthly Resistance:- 31385-31505 / 31650-31750 ## PIVOT:- 31,273-31,392 ## Tomorrow Demand / Support:- 31113-31183 ## Tomorrow Demand / Support :- 30654-30705 ## Weekly Support:- 30654-30705 NOTE:- We are bearish below 31113 and super bearish below 30926. There are two types of trades:- Range Trading and Breakout Trade. 1. Range Trade:- Buy/SELL in above or below Pivot Zone & GREEN Zones, SL is zone lower point, T 100 to 300 points/resistance zone. 2. Breakout Trade:- Once a pivot/zone is broken, keep SL as lower / upper end of the zone for next zone as the target or target 100 -300 points.
NSE:BANKNIFTY
by subhagghosh
3
Bang On Levels of Bank Nifty:- 11th Feb'2020Bank Nifty Trading Strategy for 11th Feb'2020:- From telegram's BNTrading. Today was a consolidation day with a negative bias. The BN opened (31248) in our pivot level (31160-31260) and was never able to enter the pivot zone. Our 1st click trade was short BN for 100-200 points, which we achieved. The whole day we traded in ITM PEs, bought PE at higher levels and closed it in lower levels ( 100 points movements). There was big no to buy any calls during the day, we made a good profit. I am bearish on BN until we close above 31,260, technically the trend has changed below 31113. It opens the downsize target of 30761 or below. ## Daily/Weekly/Monthly Resistance:- 31380-31480 / 31650-31750 ## Tomorrow Supply / Resistance:- 31183-31260 ## PIVOT:- 30972-31107 ## Tomorrow Demand / Support :- 30654-30705 ## Weekly Support:- 30654-30705 NOTE:- We are bearish below 31113 and super bearish below 30926. There are two types of trades:- Range Trading and Breakout Trade. 1. Range Trade:- Buy/SELL in above or below Pivot Zone & GREEN Zones, SL is zone lower point, T 100 to 300 points/resistance zone. 2. Breakout Trade:- Once a pivot/zone is broken, keep SL as lower / upper end of the zone for next zone as the target or target 100 -300 points.
NSE:BANKNIFTYShort
by subhagghosh
Short term support is at 12040 below it Nifty may fall to 11840.The weekly chart of Nifty displays strong comeback from buyers. The piercing bull candle in uptrend is a clear sign of strength. In the last session Nifty ended after a volatile session creating a narrow range candle, the daily prices halted at 61.8% retracement of the corrective leg. The RSI taking resistance at 45 ma and curling down while MACD is into bearish zone, indicate the momentum needs to be boosted further to maintain the overall trend up. Short term support is at 12040 below it Nifty may fall to 11840. If Nifty is able to maintain itself above 12040 it may rally to 12430 & 13000 levels.
NSE:NIFTY
by BharatJhunjhunwala
Holding the 30500 levels the index may move to 31900, 32800 Notice that we have marked a very bullish scenario on the index. We believe that the budget can be a vitamin for the expected move. The index has been displaying strength & have hold on to an important pivot point on the chart. 30500 is a very important pivot for the index, if it holds here then a good move up is possible. Below this a sharp correction may grab the banknifty. The RSI is into positive to sideways zone while MACD has tripped into bearish zone. Holding the 30500 levels the index may move to 31900, 32800 & 33200 zones. 31160 is a minor resistance.
NSE:BANKNIFTY
by BharatJhunjhunwala
31800 acid test levels for bulls...The overall index has been under performing since last two weeks. Mid Caps and small caps are outperforming the BankNifty. The RSI is into bullish range, so there is still no sign of weakness, this may just be a consolidation phase. The prices have taken support at an important pivot level, the candle formed is an indecisive one, we may expect bounce in the index above 31800 levels, this is an immediate resistance level in the short term. Above it 32600 & 33150 can be scaled in the coming weeks. However if Banknifty fails to maintain strength above 31800 it may correct further 31250 levels.
NSE:BANKNIFTYLong
by BharatJhunjhunwala
This can move Nifty.... Since couple of weeks this mammoth was taking a nap, today’s price action seems to wake it up. A bounce from the support area with a bullish candle is indicative of the underlying strength in the stock. The RSI is into bullish zone and MACD too into bullish area taking support on neutral zone. The momentum is turning up in the coming sessions the stock is expected to move to 1650 – 1700 levels, 1590 may create a little hurdle to the move up, the levels may be very much real above 1590.
NSE:RELIANCELong
by BharatJhunjhunwala
Nifty is creating a value area, moving above it is necessary...The index created a new high this week, failing to close above it. The small body candles are creating a value area at the highs, it’s very important for Nifty to move above this value area to establish strength, the rally is fueled by small and mid caps, Nifty should support this overall movement. While the RSI is displaying divergence, the major momentum doesn't seems to be affected. MACD is bullish above zero line with a minor divergence. A move above the value area 12400 shall push Nifty to 12545 & 12930 levels (this is unchartered territory) 12170 levels will serve as strong support to the index below which it can be dragged to 12000 levels, though 12170 is a very strong support.
NSE:NIFTY
by BharatJhunjhunwala
. A sustenance above 12290 may push up the prices to .....The index pulled back in a great way after the Middle East tensions. The prices halted at the previous highs. The momentum (RSI) is into a sideways zone and still diverging with the price. A sustenance above 12290 may push up the prices to 12360 – 12500 levels, however any failure to sustain above the levels may push nifty to 11930 where it may find support. The MACD is above zero line (bullish) while RSI has slided between 60-40.
NSE:NIFTY
by BharatJhunjhunwala
31450 levels will serve as a strong support to the index....Finally a eventful week ends. This week made trading the most difficult task. Price actions were impacted by the tensions between Middle East and US. In the end the indices did manage to sustain most of the losses that were made by the attack news. The last candle on bank nifty was undeceive though the weekly close resulted into a hammer.31450 levels will serve as a strong support to the index, if bank nifty sustains above this then 32460 – 32860 seems to be eminent targets. A move above 32200 will assure the above levels. However a failure to keep up above this level may result into a pullback to 31450. The MACD is into the bullish zone while RSI is neutral with bullish bias.
NSE:BANKNIFTY
by BharatJhunjhunwala
This 12200 levels will serve as minor supportThe index has been consolidating in a sideways range since last two weeks. A triangle pattern is visible on the daily charts, the breakout is yet to occur. The prices are holding the TS line support tightly. This 12200 levels will serve as minor support while 12070 the KS line is an important support. Any redound should take place from these supports. Nifty is set to move to 12310, 12380 & 12500 levels. But when we look at the RSI, the momentum seems to lose its strength, I would really like the RSI to break up from the 60 levels which it is tested a multiple number of times.
NSE:NIFTY
by BharatJhunjhunwala
Banknifty may attempt to correct. But......Banknifty is losing momentum gradually, we can notice a divergence on RSI with doji formation though divergence is not indication of trend change, a detour may not be ruled out. The MACD also displays divergence. Probable support at TK & KS confluence placed close to 31800. However there is no point in pre attempting correction, rather wait for price confirmation. Also to bring to notice there is a volatility divergence as well.
NSE:BANKNIFTYShort
by BharatJhunjhunwala