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Bank Nifty Technical Analysis - 13th March 2024 Bank Nifty Technical Analysis - 13th March 2024 ## Market Overview The recent market movements align with our discussed levels, emphasizing the importance of technical analysis for informed trading decisions. Let's review the key support and resistance zones for Bank Nifty. ### Support Levels **1. Support Levels: 47,277** - Currently holding as a crucial support level. - A breakdown below this level may lead to a potential downside towards 46,425. ### Resistance Levels **1. Resistance Levels: 47,600** - Immediate resistance level to monitor. - A sustained trade above this level could indicate a potential move towards the next resistance at 48,000. **2. Resistance Levels: 48,000** - A significant resistance zone, acting as a hurdle for further upside momentum. ### Technical Insights #### Support Zone Analysis The support at 47,277 is critical, and a breach below this level may signal increased selling pressure, potentially targeting the next support at 46,425. #### Resistance Zone Analysis Breaking above the resistance at 47,600 is crucial for bullish momentum. Traders should closely observe how the market reacts around this level as it might set the stage for an attempt to breach the significant resistance at 48,000. ### Trading Recommendation Traders are advised to monitor the price action around the support and resistance levels. A breakdown below 47,277 could lead to a bearish bias, while a decisive move above 47,600 might pave the way for a potential upside, targeting the subsequent resistance at 48,000. ### Disclaimer: Trade Wisely It's essential to trade cautiously and employ risk management strategies in the current market conditions. Santu Saha Santu bittu Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha Santu Saha
NSE:BANKNIFTYLong
by santubittu
LINDEINDIA BO [DAILY]LINDEINDIA attempted a BO in a weak market breadth today with higher than average volumes. Also, 21/50 EMA cross is happening today as well which is a positive point of support shifting upwards and one can think of using 21EMA as a support now once it crosses or if you are a pull back buyer on support one can wait to take a position at 21 EMA instead. Relative strength has been improving week over week and the numbers are as follows : 23rd Feb - 30 1st Mar - 31 7th Mar - 36 Today - 59 Huge jump in RS can be attributed to the fact that most of Smallcaps and microcaps have been hit bad and few stocks which are holding up and moving upwards gain scores like that.
NSE:LINDEINDIA
by HawkishDove
Nifty Confirm Targets for next Trading Days Nifty Chart Analysis with Support and Resistance Nifty Supports Nifty Support 1 - 22210 Nifty Support 2 - 22330 Nifty Support 3 - 22430 Nifty Resistance Nifty Resistance 1 - 22500 Nifty Resistance 2 - 22550 Nifty Resistance 3 - 22630 Nifty Trend Signal From Open Interest Analysis PCR ratio as per Option Chain Analysis - 1.1 ( Bullish) Max Pain As per Option Chain Analysis - 22400 Major Resistance as Per Nifty Open Interest Analysis - 22800 Major Support as Per Nifty Open Interest Analysis - 22300 Long Opportunity in Nifty Trading As we Know Nifty is in a uptrend, Next week First Buying opportunity will be above 22400 / 22300 and Dont Buy Below 22300 Short opportunity in Nifty Trading If nifty Sustain below 22400 then try to Short nifty or buy nifty Put option Contract keep a small stop loss If you Like our Trading Plan Please Like and Share
NSE:NIFTYLong
by manojshinde27
GLS Post BO [Weekly]GLS is retaining its strength post BO last week with good volumes. Its gearing up to breach its ATH levels now. Just see how the price takes support on 50 DMA since the 10W/40W cross. If Market breadth stays solid, this could be fun to ride. Keeping in watchlist for now to see if the price consolidates and gives an entry point. I also saw ZYDUS flashing from lifesciences too. Pharma as a theme is doing solid and is likely to retain momentum post consolidation (if any)
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by HawkishDove
Bank nifty upside Target 48400 we are holding buy from 46400On Our Harmonic pattern indicator based trade setup take trade as explained below :- Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target , When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% .. Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:BANKNIFTY
by JaiPrakashShuklaHarmonicTrader
Nifty Trading Plan for Next week Nifty Confirm Targets Nifty Supports Nifty Support 1 - 21930 Nifty Support 2 - 21830 Nifty Support 3 - 21730 Nifty Resistance Nifty Resistance 1 - 22100 Nifty Resistance 2 - 22180 Nifty Resistance 3 - 22250 Nifty Trend Signal From Open Interest Analysis PCR ratio as per Option Chain Analysis - 0.7 ( Bearish) Max Pain As per Option Chain Analysis - 22000 Major Resistance as Per Nifty Open Interest Analysis - 22000 Major Support as Per Nifty Open Interest Analysis - 21900 /21500 Long Opportunity in Nifty Trading As we Know Nifty is in a uptrend, Next week First Buying opportunity will be above 21930/ 22100 and Dont Buy Below 21800 Short opportunity in Nifty Trading If nifty Sustain below 22000 then try to Short nifty or buy nifty Put option Contract keep a small stop loss If you Like our Trading Plan Please Like and Share
NSE:NIFTY
by manojshinde27
#NIFTY Support & Resistance / 1 Mar 202415-minute support and resistance levels for NIFTY, which I use as context for my larger, single stock breakout and reversal intraday trading setup. I try to share next-day stock and index levels, as well as results, to benefit the community. If you or someone you know may find this information useful, please feel free to share, comment, follow or get in touch for more information. Disclaimer: Trading and investing carry risks, and you should consult with a qualified financial professional before making any investment decisions. Any charts or patterns mentioned are for educational purposes only and do not guarantee future results. Past performance is not indicative of future performance. Always conduct your own research and consider your risk tolerance before engaging in any trading activities.
NSE:NIFTY
by QUANTECHNICAL
As said many times reliance go to 3000 then 2800 possible On Our Harmonic pattern indicator based trade setup take trade as explained below :- Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target , When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% .. Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:RELIANCE
by JaiPrakashShuklaHarmonicTrader
#TATAMOTORS Support & Resistance / 29 Feb 2024Here’s a stock I'm keeping an eye on for the next day's trading. I'm aiming for a 1%+ intraday profit with a flexible stop-loss. The rules are simple - there are two lines marked on the chart that act as support or resistance, depending on where the price opens. When the price touches or crosses either line, from any direction, for the first time, I decide whether to buy or sell at or near the line based on six simple indicators + order book confirmations. If no trade is taken, the chart becomes invalid. I won't go into details about indicators because they are to be interpreted and change depending on the market. For example, an RSI of 40 means different things in a bull, bear, or choppy market. It's all about looking at things relatively; and each trader has their own setup, rules and approach to risk management. Check back after the market closes to see how things went. Sometimes, the price might not touch those lines for a day or more. You have to remain patient. Disclaimer: Trading and investing carry risks, and you should consult with a qualified financial professional before making any investment decisions. Any charts or patterns mentioned are for educational purposes only and do not guarantee future results. Past performance is not indicative of future performance. Always conduct your own research and consider your risk tolerance before engaging in any trading activities.
NSE:TMPV
by QUANTECHNICAL
#CROMPTON Support & Resistance / 28 Feb 2024Here’s a stock I'm keeping an eye on for the next day's trading. I'm aiming for a 1%+ intraday profit with a flexible stop-loss. The rules are simple - there are two lines marked on the chart that act as support or resistance, depending on where the price opens. When the price touches or crosses either line, from any direction, for the first time, I decide whether to buy or sell at or near the line based on six simple indicators + order book confirmations. If no trade is taken, the chart becomes invalid. I won't go into details about indicators because they are to be interpreted and change depending on the market. For example, an RSI of 40 means different things in a bull, bear, or choppy market. It's all about looking at things relatively; and each trader has their own setup, rules and approach to risk management. Check back after the market closes to see how things went. Sometimes, the price might not touch those lines for a day or more. You have to remain patient. Disclaimer: Trading and investing carry risks, and you should consult with a qualified financial professional before making any investment decisions. Any charts or patterns mentioned are for educational purposes only and do not guarantee future results. Past performance is not indicative of future performance. Always conduct your own research and consider your risk tolerance before engaging in any trading activities.
NSE:CROMPTON
by QUANTECHNICAL
#Nifty50 Support & Resistance / 28 Feb 2024Char for 15-minute support and resistance levels for broader market index, which I use as context for my broader single stock breakout and reversal intraday trading setup. I try to share next-day stock and index levels, as well as results, to benefit the community. If you or someone you know may find this information useful, please feel free to share, comment, follow or get in touch for more information. Disclaimer: Trading and investing carry risks, and you should consult with a qualified financial professional before making any investment decisions. Any charts or patterns mentioned are for educational purposes only and do not guarantee future results. Past performance is not indicative of future performance. Always conduct your own research and consider your risk tolerance before engaging in any trading activities.
NSE:NIFTY
by QUANTECHNICAL
ACCELYA Near ATH BO [Weekly]I somehow just zoomed out and checked the chart of ACCELYA solutions and I was amazed by it. Its slowly moving towards its all time high BO and this might move strong post that, keep a check on this as this scrip has been in the chatter on value research and on twitter as well a bit. Recent BOs have been with good volumes and seem to be sustaining. See if your risk management allows you to take a position with SL to anticipate a BO if you like those kind of plays.
NSE:ACCELYA
by HawkishDove