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Bank nifty key levels for the upcoming few weekBank nifty might face a consolidation for a few days Fundamental factor 1. war-like situation in the market. 2. most Chinese cities are under lockdown. 3. due to LIC IPO we could see a sell-off in the stocks for some time. 4. Fed might hike the interest rate due to increasing inflation. So, overall there is a lot of fear In the market (REMEMBER ALL THE BULL RUNS START WHEN THERE IS PANIC IN THE MARKET YOU CAN TAKE THE RECENT EXAMPLE OF THE WAR) Technical reasons 1. the level of 35500 is imp because it lies at a 50% fib level and according to price action it is a good support. 2. 200ma is resisting the 37000 level and 50ema is also resisting the market. 3. so overall there are a lot of resistances in this zone so this is a no trading zone. WHEN TO BUY? 1. there is a gap formed at the levels from 37200 to 37600 and the market tends to fill gaps with a big momentum like in the past. 2. So, we could go long once it breaks the no trading zone and 1700 points target could be achieved
NSE:BANKNIFTY1!
by farhanf7867
Bank Nifty analysis for montly expiry Jan 2022Bank Nifty seems to be at top area of monthly resistance, coming down weekly it doesent seem much weaness is there, hence on daily frame too nifty seems to standing at little resistance zone . Thus, coming on intraday, Bank Nifty has an immediate resistance on 37700-37800 zones, with a conformatory of a trend line break followed since yesterday, hence would should plan long on the break of this 100 point zone resistance only if it sustains above 800, and should short on the break of support. Personaly expecting a tredny move in 1st half, and a premium eating expiry so far. Have a great expiry
NSE:BANKNIFTY
by imeetsutariya4
Bank nifty elliot wave analysis.Bank nifty elliot wave analysis for Dec 2021 expiry 🔹️ We are at the end of 4th/at the beginning of 5th wave of 5th wave. 🔹️ As per time wise correction, Wave 3rd of 5th took almost 17 candles on 1 hr timeframe whereas 4th wave which may/may not completed took 22 candles till now so it is "expected" that we have completed the correction and ready for 5th of 5th wave. 🔹️ As per price wise, we have retested 200 EMA on daily timeframe on 23rd Dec 2021 but failed to closed above it signifying it as resistance zone (34400 to 34500) 🔹️ Projection of 5th of 5th wave is coming around 33516 (0.618) to 32988 (0.786) 🔹️ Apart from elliot wave prospective, there are few numbers which Gann studies gives importance to. Some of them are 0.25, 0.3125, 0.375, 0.5, 0.625, 0.75, 0.8125, 1 and multiples of this number. It is unreasonably proven that whenever market fall from its recent highs, it finds supports at/near this number percentages and coincidently, 20% (which is 20 times gann number 1) from recent top is coming at 33465 which perfectly lies in the zone of 5th wave projection. So that might be the strong support/reversal point for bank nifty. . . . Forecasting don't have the fixed path on which we can travel, it's about the finding highest probability where multiples studies providing same/nearby results.
NSE:BANKNIFTY
by sanketthakur111