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Bank Nifty Update ( Long Term View)Hello Everyone Its been long since my last update, as in current chart i am only going to talk about long term view. I have been talking about up cycles since 23rd january 2023, you can see this in my below chart. Bank Nifty update on 23/01/2024 What now i expect market should move upward making blue degree which is called medium degree(m1 series). By combining this m series, our one long term degree wave-((3)) will completed. Thank You
NSE:BANKNIFTYLong
by Neowave-forecast
1
18 Apr Nifty –13.23 Candle wipes out the entire April ProfitsNifty Analysis - Stance Bearish⬇️ Recap from yesterday: "For bearish continuation, we need to take out the 22051, whereas for Neutral stance shift, we need to take out 22295." We did take out the 22051 support today on the 4mts TF but not before some drama. Initially Nifty was showing strong upside potential knocking the 22295 resistance level. By 12.15, I almost thought we might have to go neutral and kiss good bye to the new Bears. Fortunately, the 22295 resistance held its ground and proved a safe level for the Bears. Coming to the main event of the day - see the encircled portion. The 13.23 and 13.27 candles. Nifty fell 213 points in 8 minutes (might be a new record). And since we had an expiry today, what it actually did was mess up the premiums of straddles. I lost 1.38L in Nifty today due to this misadventure. By 14.55 we lost the 22051 support and N50 went on to test 21961. The next major support comes at 21913. On the higher TF, we wish to maintain the bearish stance even though we did not get a 63mts closing candle below 22051. I am hoping that we may get one in the forenoon session tomorrow. The last 3 candles were strong RED and the bodies fit right between the 22295 and 22051 SR zones. --- The losses in Algo trades were 1.38L, mostly due to slippages between 13.23 to 13.28. However smartly you set the programs, the orders will not fire as fast as the underlying moves. The delay is enough to get mispricings and slippages. Quite relieved to have saved close to 70k from the max loss value.
NSE:NIFTYShort
by viswaram
Banknifty expecting the pause for next 2-3 daysNSE:BANKNIFTY Bank Nifty, we have seen Almost 3200 points One way rally. Without any major pullback. From 45800 To 49000 Now I am expecting a Pullback till 48100 level and then sideways market For 2-3 days. After this range Formation in Market, We might see fresh breakout and then move for next all time high level again. Good to keep on the radar Always respect SL & position sizing =================== Trade Secrets By Pratik =================== Disclaimer SEBI UNREGISTERED This is our personal view and this analysis is only for educational purposes Please consult your advisor before investing or trading You are solely responsible for any decisions you take on basis of our research
NSE:BANKNIFTY
by Trade_Secrets_By_Pratik
3
06 Mar ’24 — Nobody believed us when we said Banks are bullish..BankNifty Analysis - Stance Bullish ⬆️ The major move in Banknifty in the opening hour itself. See the encircled region and see how the 47465 support came into play. Support and resistance have the highest weightage in my technical indicators arsenal. If you have been reading my reports - you may agree to it without doubt. The only thing is, you need to draw the horizontal lines carefully. 4mts chart Two things happened when BN rallied 713pts ~ 1.5% in the opening hours. Firstly it gave so much of positive momentum to Nifty50 that even a laggard like NiftyIT had to reverse course and align with the GREENs. Secondly, it threw our algo positions under the bus. The swift movement ensured whatever MTM loss the positions went into, we were sure that the end was never going to be in green. Not quite sure if we will take out the ATH tomorrow, but seems like we are going to have another green day tomorrow. As long as the support of 47465 is respected, the bulls are going to have a nice time. 63mts chart – Algo Trading Our algo trades ended today with a loss of 19656. The opening hour casting its spell, the MTM loss was almost 65710 at a point, so we are quite thankful for the wonderful recovery we had post that trauma.
NSE:BANKNIFTYLong
by viswaram
04 Mar ’24 — BankNifty still has to overcome the 47465 resistancBankNifty Analysis - Stance Neutral ➡️ BankNifty is still stuck at the 47465 resistance level and this according to me was the primary reason why even Nifty could not find the upward thrust. There were 4 specific instances when BN tried to break the resistance and move up but all of them got rejected. This does not really mean that the Bulls are tired or out of steam, it is just that they are unable to win the hand. 4mts chart By this time, we all know what is going to happen next - A gap-up above the resistance line and then boom-boom. The gap-up will change the dynamics in the Bull’s favor and the short covering will give it a bit more thrust. The moment that happens, we will be able to change the stance from neutral to bullish. This would also mean Nifty50 would be scaling new heights. What is totally unpredictable is NiftyIT, playing hard to get. Seems like the fight to be the Nifty’s torch bearer is happening between IT and Banks. 63mts chart Algo Trading Our algo trades ended today with a gain of 27037. We manually closed the day @ 11.15 as the MTM felt decent enough for the 2hrs of trade. We will only get to know if it was the right decision or not when we run the backtest. I am a registered financial advisor & would be happy to assist with your queries or doubts. If privacy is required, you can DM me too.
NSE:BANKNIFTY
by viswaram
01 Mar ’24 — BankNifty gets an upgrade - from Bearish to NeutralBankNifty Analysis - Stance Neutral ➡️ BankNifty also gets a stance change today i.e. from bearish to neutral. All that is pending is to take out the 47465 resistance to go bullish. Most likely that should happen tomorrow and we are eagerly waiting to trade on another Saturday. BN closed the day with a gain of 1166 points ~ 2.53%. But unlike Nifty, BN is not near its ATH. We have some more distance to cover. 4mts chart Look at the number of green candles in the higher time frame. 11 consecutive 63mts candles i.e. 693 hours of unchecked bull run. We are very sure if the same had happened yesterday - a lot of option traders would have tripled their capital. Expiries usually attract hero-zero traders and most of them prefer to load on BankNifty CEs and PEs. BN is safely out of the bearish channel and that is why the stance has been revised from bearish to neutral. 63mts chart Algo Trading Our algo trades ended today with a loss of Rs39177. It was on the expected lines as the algo is based on option selling and for strong directional move days like today - it will run into deep cuts. In a way, we are happy that the loss was not 63891. I am a registered financial advisor & would be happy to assist with your queries or doubts. If privacy is required, you can DM me too.
NSE:BANKNIFTY
by viswaram