bank nifty on 04/11/24Bank nifty forming bullish flag pattern inside consolidation zone
bank nifty trading in 51675 now,
1) can give pullback till 51500 level ( fib 50-61%)
if breakout, flag pattern trend line and retest above 51800 , target & resistance - 52000 & 52300
2) if down trend continuous ,
next support level 51300 & 51150 level
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This is my personal analysis for my personal trading. Kindly consult your financial advisor before taking any actions based on this.
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Bank Nifty Analysis For 21-10-24 to 25-10-24Bank Nifty Analysis For 21-10-24 to 25-10-24
51000-52350 is the Non Directional Range for Bank Nifty next week.
Short Level Scenario 1 is Short from Top (52000) for the targets of 51500/51000.
Check for reversal Price Action in lower timeframe(5mins/15mins) for confirmation.
Short Level Scenario 2 is below 51000 for 50700/50400.
Long Level is Only above 52350 for the Targets of 52580/52880.
View: Sideways to Downside
Bank Nifty Analysis for TomorrowBank Nifty Analysis for 11/10/2024
Market Outlook:
I expect a flat to slightly gap-down opening tomorrow.
Key Levels:
- Crucial Level:
- 51,270
- Support Levels:
- 51,400
- 51,270
- 51,040
- Resistance Levels:
- 51,650
- 51,800
Trading Strategy:
- Long Position:
- If Bank Nifty opens around 51,400, I will take a long trade targeting 51,650 and 51,800.
- If it drops to 51,270, I will average my position for a long trade, targeting 51,400 and 51,650.
- Short Position:
- If Bank Nifty sustains below 51,270 for 15 minutes, it will indicate a clear short trade with targets at 51,040 and 50,800.
Bank Nifty Analysis For 07-10-24 to 11-10-24Bank Nifty Analysis For 07-10-24 to 11-10-24
Straight fall from PRZ Area as peer our last week's View.
51300-51500 is Important Support for Bank Nifty Next Week.
If Bank Nifty reverses from Support, Targets on upside are 52500/52980.
If Bank Nifty breaks the support, we may see sharp fall till 50680/50200 levels in the coming weeks. High Probability is Bank Nifty may recover from the support levels and move Sideways.
Bank Nifty Weekly Analysis For 30-09-24 to 04-10-24Bank Nifty Weekly Analysis For 30-09-24 to 04-10-24
53000-54500 is the Sideways Range for coming weeks. We may see bank nifty moving both sides in between the range.
54350-54500 is PRZ area which means price may either consolidate or give a Correction.
If Bank Nifty trades below 52900, more downside possible and Targets are 52480/51980.
Long above 54500 for 55000/55644.
High Probability is we may see a sideways market next week.
Bank Nifty Levels and Technical Analysis- Bank Nifty is currently trading at 53,043 as of today and is down by 1.5%
- Bank nifty took out buy-side liquidity and trapped many buyers but at the same time the market structure looks intact and bullish
- Bank has a huge displacement around 52,000-54,000
- Bank Nifty might move after filling the Bullish Fair Value gap which is lying around 52,300-52,600
- Bank Nifty can make another higher high post that so be cautious and wait for the price delivery to purge your point of interest
Bank Nifty Technical AnalysisBank Nifty Technical Analysis:
Price Movements:
The chart represents 15-minute intervals of the Bank Nifty Index.
Observe the candlestick patterns (open, high, low, close) to understand short-term price action.
Support and Resistance Levels:
The red dashed line indicates a resistance zone.
The green dashed line represents a good support zone.
Volume Analysis:
The large red vertical rectangle highlights significant volume at a specific point in time.
High volume often accompanies important price movements.
Patterns:
Keep an eye on any emerging candlestick/chart patterns on lower time frame (e.g., doji, engulfing, hammer) for potential signals.
Bank Nifty Weekly Analysis For 02-09-24 to 06-09-24Bank Nifty Weekly Analysis For 02-09-24 to 06-09-24
50700-50800 is the Major Support for Next Week.
Bank nifty has given breakout of Downside Trendline that is holding the Downtrend Since 04/07/24.
XABCD Activated Previous Week. Change of Character(CHoCH) in 4hrs Chart.
Long Confirmation is Above 51550 for the Targets of 52000/52680.
Our View will be failed If Bank nifty comes below 50700 and index may go into a Range again.
View: Bullish to sideways.
Bank Nifty Weekly Analysis For 26-08-24 to 30-08-24Bank Nifty Weekly Analysis For 26-08-24 to 30-08-24
50700-50800 is the Support for Next Week.
XABCD Pattern got activated.
If Bank Nifty Sustains above 51100, more Upside possible and targets are 51580/52000.
If Bank Nifty trades below 50700, Index will go back into Range between 49700-50700.
View: Upside to sideways.
BANK NIFTY ANALYSIS 18 MAY 24BANK NIFTY ANALYSIS 18 MAY 24
Currently bank nifty is at neutral zone it can go up or it can fall will be decided by upcoming 2-3 days
currently it is trading at 48199.00
bullish levels will be as follows
level 1 : 49051.00
level 2 : 49666.30
Bearish levels will be as follows
level 1 : 47135.00
level 2 : 46621.60
level 3 : 45825.15
for more details you will get level by level details in chart
this analysis is purely for educational purpose only.
BANK NIFTY GANN TREND ANALYSIS DAILY CHART 31 JULY 2024Bank Nifty Daily Chart with Monthly Gann Angles which are most important for Gann Analysis are shown in chart. You can see the January 2024 hit on the Monthly angle at 44843. Then the next Monthly angle hits around the level of 48920. You will how Price Action has developed around this angle provided various trade opportunities to the up and down angles. ATH was hit around the Monthly Angle of 52996. We see the Monthly Angle hit twice with a Double Top Formation. Nice short opportunity around it. We use weekly and daily angles to monitor the trades and maximise the profits. Breakout on Bank Nifty will be seen above 54352 as per the Monthly Angle. Following the price action within the Monthly/Weekly/Daily Angles with the Gann Trader Ultimate Edge on Trading the Markets.
Gann Quote : " We use geometrical angles to measure Space and Time periods because it is shorter and quicker method than addition or multiplication; provided you follow the rules and draw the angles or lines accurately from Tops and Bottoms, or Extreme Highs and Lows."
Happy Trading !!!
kbr9121965(Use my Handle of Trading View Platform to Like and boost my ideas. If you like them share to Fellow traders for their benefits.)
N.B. Not a financial advice to buy or sell. With usual disclaimers as applicable within the reach of thisbeautiful trading analysis platform. Thanks to the developers of the program for this opportunity to use it freely to express our ideas to the community of traders.
Bank Nifty Analysis: Critical Support and Resistance LevelsBank Nifty Analysis: Critical Support and Resistance Levels
By Santu Saha (Santubittu)
Understanding the Market:
Support Zones:
* Primary: 50850
* Secondary: 50400
* If Bank Nifty opens between 51600 and 51300, initial support at 51350.
Resistance Zones:
* Initial: 51770
* If Bank Nifty opens below 51770, initial resistance at 51772. Potential sideways movement between 5200 and 52400. Breakout above 52400 indicates bullish trend.
Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Trading involves risk.
Bank Nifty Cracks On Budget Day, Nifty ReboundsBank Nifty came under extreme pressure today and ended the below its support level of 51800.
Nifty almost hit 24000 but made a sharp recovery and ended just below 24500.
Tomorrow is the weekly expiry of Bank Nifty so all eyes on whether it will bounce back or slip further.
Thank you for watching the video,
Umesh
Bank Nifty Weekly Analysis For 15-07-24 to 19-07-24Bank Nifty Weekly Analysis For 15-07-24 to 19-07-24
51780-53300 is the Range for Next Week.
If Bank Nifty sustains above 53300, more upside possible and targets are 53680/53912.
If Bank Nifty trades below 51700, Downside Targets are 51480/51080.
View: Sideways Market.
Bank Nifty Weekly Analysis For 08-07-24 to 12-07-24Bank Nifty Weekly Analysis For 08-07-24 to 12-07-24
51980-53300 is the Range for Next Week.
If Bank Nifty sustains above 53300, more upside possible and targets are 53680/53912.
If Bank Nifty trades below 51900, Downside Targets are 51600/51380.
View: Sideways Market.
Bank nifty analysis as per Elliot WAVE theory for 24th JuneBank nifty seems to be in corrective phase of Elliott wave and has reached till wave B and now in last phase of making wave C (see wave in blue color). If so it is supposed to give a down move in the form on WAVE pattern 12345 ( see wave in red color). Breaking below 51524 in the morning hours will give the confidence that WAVE (i) is getting formed making wave (3 - in grey color) of WAVE (i - in red color) of WAVE C ( in blue color) that means 51680 must not get broken and bank nifty must better open gap down and should not cross over 21 June close.
If this turns true than up to 50650 can the be target for the days - 24 and 25 June (weekly pivot point and trendline support area)
It might get difficult to take entry in wave (3 grey color) of WAVE (iii in red color) of WAVE C (blue color) as first we need to get a confirmation of WAVE C getting formed so one can make entry at the end of wave (ii) of WAVE C to target 50600. WAVE (ii) means bank nifty first will go down in morning hours and then will trace back and then most likely from EMA 200/100 or VWAP it might see some weakness and from there it can target 50650.
On other hand break above 51800 will invalidate this theory.
* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.
** The waves must be seen on 1/2 minute chart which I can use to publish - minimum 15 min chart is allowed.
Bank Nifty Weekly Analysis For 24-06-24 to 28-06-24Bank Nifty Weekly Analysis For 24-06-24 to 28-06-24
52000 is the Resistance for next week.
Bank Nifty is in Overbought Zone. So be cautious in Long side.
Short Level is Below 51000(aggressive) for the targets of 50580/50080/49700.
Long only above 52000(Defensive approach) for 52480/52880.
Verdict: Sideways / Downside.
Bank NiftyBank Nifty Chart Pattens
** Public sector banks' discount to private banks close to historic lows, Macquarie says, a positive for the latter
** Adds, State Bank of India's
SBIN
valuations compared to private peers Axis Bank
AXISBANK
and HDFC Bank
HDFCBANK
show discount is now 1-standard deviation below historic averages
** "There is a clear preference for private sector banks among financials," says Macquarie, citing steady earnings outlook as they will be less affected by Expected Credit Losses (ECL) regulations and carry contingent buffers
** Bottoming out of credit costs, likely impact due to regulations point towards lower return on assets, profitability for India' state-owned lenders, says Macquarie
** Last week, brokerage upgraded Kotak Mahindra Bank
KOTAKBANK
to "outperform" from "neutral", while also upgrading City Union Bank
CUB
and Bandhan Bank
BANDHANBNK
** India's Nifty private bank index (.NIFPVTBNK) up 3.63% so far in 2024, underperforming 8.3% rise in Nifty 50
NIFTY
index
Bank NIfty relatively outperformed in last week Bank NIfty also gave negative returns in last week but relatively outperfomed
Bank Nifty witnessed correction in 1st half
& some recovery in 2nd part of last week
Upside hurdle is placed near 49200/400 level
whereas imp downside support zone is around 48400
Market may show volatility during the Results of elections
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