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Bank Nifty Technical Analysis - 1st March 2024 Bank Nifty Technical Analysis - 1st March 2024 ## Overview Bank Nifty has exhibited adherence to identified support and resistance levels, providing valuable insights for traders. Let's delve into the levels for tomorrow's session. ### Support Levels **1. Support Level 1: 45,900** - A foundational support level, and if the market breaks and sustains below, it may lead to a downturn. **2. Support Level 2: 45,500** - An additional support level that traders should monitor for potential market movements. ### Resistance Levels **1. Resistance Level 1: 46,425** - A key resistance level that, if sustained above, may pave the way for an upward move towards 47,000. ### Technical Insights #### Support Level Analysis Bank Nifty's responsiveness to the support levels, especially around 45,900, has been noteworthy. Traders are advised to closely watch if the market sustains above or below this level for potential trading opportunities. #### Resistance Level Analysis Resistance at 46,425 could act as a pivotal point. Traders should observe the market's behavior around this level as it may determine the directional bias. ### Conclusion Bank Nifty's recent movements suggest a reliance on identified support and resistance levels. Traders are encouraged to stay vigilant, especially around the critical support of 45,900 and the resistance at 46,425 for potential trading setups.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Technical Analysis - 29th February 2024Bank Nifty Technical Analysis - 29th February 2024 ## Overview Bank Nifty has recently aligned with previously identified support and resistance levels, offering valuable insights for traders. Let's delve into the levels for tomorrow's session. ### Support Levels **1. Support Level 1: 45,910** - A crucial support level that, if surpassed, may lead to a potential decline towards the next support. **2. Support Level 2: 45,400** - A secondary support level that traders should monitor closely. **3. Support Level 3: 45,000** - A significant level that, if broken, could signal a further downside move. ### Resistance Levels **1. Resistance Level 1: 46,425** - Immediate resistance that the market needs to overcome. **2. Resistance Level 2: 47,000** - A critical resistance level that, if sustained, might lead to an upside movement. ### Technical Insights #### Support Level Analysis The support at 45,910 played a pivotal role in recent market movements. Traders should closely monitor how the market reacts around this level, with additional support at 45,400 and 45,000. #### Resistance Level Analysis The immediate hurdle for Bank Nifty is at 46,425. A successful breach of this resistance, sustained above, may pave the way for an upward trajectory towards 47,000. ### Conclusion Bank Nifty has demonstrated responsiveness to identified support and resistance levels, offering traders valuable cues for decision-making. Caution is advised, with a focus on the crucial support at 45,910 and the resistance at 46,425 for potential trade opportunities.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Technical Analysis - 26th February 2024Bank Nifty Technical Analysis - 26th February 2024 ## Overview Bank Nifty has exhibited price movements in accordance with our identified support and resistance levels. Traders are advised to closely monitor these levels for potential market insights. ### Support Levels **1. Support Level: 46,425** - A critical support level that has held firm. If the market breaks below 46,425, there is a potential for a decline towards 46,000. ### Resistance Levels **1. Resistance Level 1: 47,000** - An immediate resistance level that the market needs to overcome. **2. Resistance Level 2: 47,600** - If the market sustains above 47,200, the next target could be 47,600. ### Technical Insights #### Support Level Analysis The support at 46,425 has proven to be crucial. A break below this level may open the possibility of a decline towards 46,000. Traders should be cautious and monitor for potential downside movements. #### Resistance Level Analysis The immediate hurdle for Bank Nifty is at 47,000. A sustained move above this level may pave the way for further gains, with 47,600 being the subsequent target. Traders are encouraged to observe how the market reacts around these resistance levels. ### Conclusion Bank Nifty has displayed responsiveness to the identified support and resistance levels. Traders should stay vigilant, considering the potential scenarios that may unfold during trading hours. It's crucial to trade carefully and adapt to changing market conditions.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Technical Analysis - 22nd February 2024 Bank Nifty Technical Analysis - 22nd February 2024 ## Overview Bank Nifty exhibited price movements aligned with our identified support and resistance levels. Traders are encouraged to closely monitor these levels for potential market insights. ### Support Levels **1. Support Zone 1: 46,425 to 46,000** - A crucial support zone that provided stability. If the market opens with a gap-up above 47,120, this support zone may extend to 47,100. **2. Support Zone 2 (Conditional): Below 46,933** - If the market opens below 46,933, it might serve as a resistance zone, signaling a potential shift in market sentiment. ### Resistance Levels **1. Resistance Level 1: 47,200** - A key resistance level. If the market sustains above this level, it may pave the way for further upside movements. **2. Resistance Level 2: 47,600** - A significant resistance zone. Traders should closely observe the market's behavior if it approaches or surpasses this level. ### Technical Insights #### Support Levels Analysis The initial support zone of 46,425 to 46,000 played a crucial role, offering stability. In case of a gap-up opening above 47,120, 47,100 may act as an additional support level. Traders are advised to consider these levels in their decision-making process. #### Resistance Level Analysis Resistance levels at 47,200 and 47,600 are essential for traders to monitor. A sustained move beyond 47,600 could indicate a potential upside trend in the market.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Support and Resistance Levels (19/02/2024):Bank Nifty Support and Resistance Levels (19/02/2024): #### Support Levels: 1. **Support Level 1:** 46,425 - A crucial support level. If the market opens gap-up above this, it might act as support. 2. **Support Level 2:** 46,000 - Another good support level. If breached, it could lead to further downside movement, possibly towards 45,400. #### Resistance Levels: 1. **Resistance Level 1:** 47,000 - A key resistance level. If the market breaks and sustains above 47,000, it could signal a potential upside movement. ### Technical Analysis Insights: - **Support Levels:** 46,425 and 46,000 are crucial levels where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Level:** 47,000 is a key level where selling pressure might intensify, limiting immediate upward movements. - **Downside Caution:** If the market breaks below 46,000, it might signal a potential downside move. - **Upside Breakout Confirmation:** For a potential upside movement, Bank Nifty needs to break and sustain above 47,000. Confirmation above this level would strengthen the bullish case.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Support and Resistance Levels (16/02/2024) Bank Nifty Support and Resistance Levels (16/02/2024): #### Support Levels: 1. **Support Level 1:** 46,000 - A crucial support level. If the market breaks below 46,000, it might signal a potential downside move. 2. **Support Level 2:** 45,800 - Another significant support level. If breached, it could lead to further downside movement. #### Resistance Levels: 1. **Resistance Level 1:** 46,425 - A key resistance level. If the market reaches this level, it might face some resistance. 2. **Resistance Level 2:** 47,000 - A big resistance level. For upside movement, Bank Nifty needs to break and sustain above this level. ### Technical Analysis Insights: - **Support Levels:** 46,000 and 45,800 are crucial levels where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Levels:** 46,425 and 47,000 are key levels where selling pressure might intensify, limiting immediate upward movements. - **Downside Caution:** If the market breaks below 46,000 or 45,800, it might signal a potential downside move. - **Upside Breakout Confirmation:** For a potential upside movement, Bank Nifty needs to break and sustain above 47,000. Confirmation above this level would strengthen the bullish case.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Support and Resistance Zone (15/02/2024):Bank Nifty Support and Resistance Zone (15/02/2024): #### Support Zone: 1. **Support Level 1:** 45,350 - A crucial support level. If the market falls, 45,400 could act as the first support. 2. **Support Level 2:** 45,000 - Another significant support level. If breached, it could signal further downside movement. #### Resistance Levels: 1. **Resistance Level 1:** 46,000 - A key resistance level. If the market opens below this level, it might act as support. 2. **Resistance Level 2:** 46,425 - Another resistance level in the upper side. 3. **Resistance Level 3:** 47,000 - A big resistance level. If the market breaks and sustains above 47,000, it could signal a potential upside movement. ### Technical Analysis Insights: - **Support Zone:** 45,350 and 45,000 are crucial levels where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zone:** 46,000, 46,425, and 47,000 are key levels where selling pressure might intensify, limiting immediate upward movements. - **Downside Caution:** If the market falls, 45,000 is a significant support level to watch. - **Upside Breakout Confirmation:** For a potential upside movement, Bank Nifty needs to break and sustain above 47,000. Confirmation above this level would strengthen the bullish case.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Support and Resistance Zone (09/02/2024)Bank Nifty Support and Resistance Zone (09/02/2024): #### Support Zone: 1. **Support Level 1:** 45,000 - A crucial support level. If the market trades below 45,000, it might signal a potential downside move. 2. **Support Level 2:** 44,400 - A significant support zone. If breached, it could lead to further downside movement. #### Resistance Zone: 1. **Resistance Level 1:** 45,500 - A current resistance level where selling pressure might intensify. 2. **Resistance Level 2:** 46,000 - A key resistance level. If the market breaks and sustains above 46,000, an upside movement might be expected. ### Technical Analysis Insights: - **Support Zone:** 45,000 and 44,400 are crucial levels where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zone:** 45,500 and 46,000 are key levels where selling pressure might intensify, limiting immediate upward movements. - **Downside Caution:** If the market trades below 45,000, it might signal a potential downside move towards 44,400. - **Upside Breakout Confirmation:** For a potential upside movement, Bank Nifty needs to break and sustain above 46,000. Confirmation above this level would strengthen the bullish case.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Support and Resistance Levels (07/02/2024)Bank Nifty Support and Resistance Levels (07/02/2024): #### Support Levels: 1. **Support Level 1:** 45,400 - If the market opens gap-up above this level, it could act as a potential support. 2. **Support Level 2:** 45,000 - A significant support level. If the market trades below 45,400, it might fall further to 45,000. #### Resistance Levels: 1. **Resistance Level 1:** 46,000 - If the market opens between 46,000 to 45,600, wait for a breakout and sustenance above 46,000 for potential upside movement. ### Technical Analysis Insights: - **Support Levels:** 45,400 and 45,000 are crucial levels where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Level:** 46,000 is a key level where selling pressure might intensify, limiting immediate upward movements. - **No Trading Zone Caution:** As previously mentioned, be cautious in the no-trading zone (between 46,000 to 45,600) and wait for a clear breakout. - **Upside Breakout Confirmation:** For a potential upside movement, Bank Nifty needs to trade above 46,000 and sustain. Confirmation above this level would strengthen the bullish case.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Support and Resistance Levels (06/02/2024)Bank Nifty Support and Resistance Levels (06/02/2024): #### Support Levels: 1. **Support Level 1:** 45,500 - If the market breaks below 45,500, there might be a potential downside movement. 2. **Support Level 2:** 45,000 - Another support level that could provide stability in case of a downside move. #### Resistance Levels: 1. **Resistance Level 1:** 46,000 - If the market opens gap-up, 46,000 might act as a resistance. 2. **Resistance Level 2:** 46,400 - A smaller resistance level. 3. **Resistance Level 3:** 47,000 - 47,000 is a significant resistance level. For an upside move, the market needs to trade above 46,500. ### Technical Analysis Insights: - **Support Levels:** 45,500 and 45,000 are crucial levels where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Levels:** 46,000, 46,400, and 47,000 are key levels where selling pressure might intensify, limiting immediate upward movements. - **No Trading Zone Caution:** If the market trades within the no-trading zone, consider exercising caution and wait for a clearer market direction. - **Upside Breakout Confirmation:** For a potential upside movement, Bank Nifty needs to trade above 46,500. Confirmation above this level would strengthen the bullish case.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty strangle 7th feburaryBank nifty has been really volatile lately and VIX has been crossing 15 more than once, the range of bank nifty even with such volatility is a clear 2500 points , and I am using the good VIX rise to trade both legs selling both calls and puts Here for the 7th Feburary expiry, i have traded this strangle 47300 CE at 19 and 44200 PE at 18. Expecting both to be zero Please note this is a naked sell and i prefer not to carry over night. Trade accordingly
NSE:BANKNIFTY2!
by Puneet2020
Bank Nifty Support and Resistance Levels (05/02/2024)Bank Nifty Support and Resistance Levels (05/02/2024): #### Support Levels: 1. **Support Level 1:** 46,000 - If the market sustains below 46,000, there might be a potential downside movement. 2. **Support Level 2:** 45,600 - If the market breaks below 45,600, it might fall further to 45,000. 3. **Support Level 3:** 45,000 - A key support level where significant buying interest might emerge. #### Resistance Zone: 1. **Resistance Zone:** 47,000 - 47,000 is a significant resistance level. A breakout above this level might signal the potential for an upside movement. ### Technical Analysis Insights: - **Support Levels:** 46,000, 45,600, and 45,000 are crucial levels where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zone:** 47,000 is a key level where selling pressure might intensify, limiting immediate upward movements. - **Breakdown Caution:** Sustaining below 46,000 might signify increased bearish sentiment and could lead to further downside movement. - **Upside Breakout Confirmation:** For a potential upside movement, Bank Nifty needs to break and sustain above 47,000. Confirmation above this level would strengthen the bullish case.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Support and Resistance Levels (02/02/2024): Bank Nifty Support and Resistance Levels (02/02/2024): #### Support Levels: 1. **Support Level 1:** 46,000 - If the market breaks below 46,000, there might be the potential for a downside movement. 2. **Support Level 2:** 45,400 - Another support level that could provide stability in case of a downside move. 3. **Support Level 3:** 45,000 - A key round number acting as support. #### Resistance Zone: 1. **Resistance Zone:** 47,000 - A significant resistance level that might pose challenges for an immediate upside breakout. ### Technical Analysis Insights: - **Support Levels:** 46,000, 45,400, and 45,000 are crucial levels where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zone:** 47,000 is a key level where selling pressure might intensify, limiting immediate upward movements. - **Breakdown Caution:** Breaking below 46,000 might signify increased bearish sentiment and could lead to further downside movement. - **Upside Breakout Confirmation:** For a potential upside movement, Bank Nifty needs to trade above 47,000 and sustain, and confirmation above this level would strengthen the bullish case.
NSE:BANKNIFTYLong
by santubittu
4
Bank Nifty Support and Resistance Zone (30/01/2024): Bank Nifty Support and Resistance Zone (30/01/2024): #### Support Levels: 1. **Support Level 1:** 45,500 (If the market opens with a gap-up and sustains, this level may act as support). 2. **Support Level 2:** 45,000 (Another potential support level, especially considering the round number). #### Resistance Levels: 1. **Resistance Level 1:** 46,000 (A significant resistance level in Bank Nifty). - If Bank Nifty breaks above 46,000 and sustains, it might signal the potential for an upside movement. #### No Trading Zone: - **No Trading Zone:** Between 45,500 and 46,000 - This range is considered a no-trading zone, implying potential uncertainty. It's advisable to exercise caution within this range, especially for option buyers. ### Technical Analysis Insights: - **Support Zones:** 45,500 and 45,000 are crucial levels where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zone:** 46,000 is a key level where selling pressure might intensify, limiting immediate upward movements. - **No Trading Zone:** Avoid trading within the range of 45,500 to 46,000 due to potential uncertainty. - **Trade Cautiously:** Given the significant resistance at 46,000, it's advisable to trade cautiously and follow price action for a clearer market direction.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Support and Resistance Levels (25/01/2024)### Bank Nifty Support and Resistance Levels (25/01/2024): #### Support Levels: 1. **Support Level 1:** 44,800 2. **Support Level 2:** 44,400 - If the market breaks below 44,400 and sustains, it might indicate the potential for a significant downside movement. #### Upside Resistance Levels: 1. **Resistance Level 1:** 45,450 - If the market needs to move above this level for potential upside movement. 2. **Resistance Level 2:** 46,000 - A significant resistance level. Market needs to break above 45,450 and sustain for a potential upside breakout. ### Technical Analysis Insights: - **Support Zone:** 44,800 and 44,400 are crucial areas where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. - **Resistance Zones:** 45,450 and 46,000 are anticipated to be key levels where selling pressure might intensify, limiting immediate upward movements. - **Breakdown Caution:** Breaking below 44,400 might signify increased bearish sentiment and could lead to further downside movement. - **Upside Breakout Confirmation:** For a potential upside movement, Bank Nifty needs to trade above 45,450 and sustain, and confirmation above 46,000 would strengthen the bullish case.
NSE:BANKNIFTYLong
by santubittu
BANK NIFTY WEEKLY GANN LEVELS CHART MONTHLY EXPIRY 25 JAN 2024Bank Nifty weekly chart with Gann Levels is attached here. Gann has givena Gann Rule of 7-10 weeks in Gann Commodities Course. He said watch this move whenmarkets are near extreme highs. Bank Nifty satisfied all the conditions. Weekly Trend is the est trend to follow for traders. The risk reward ratio is more than 1:10 in this time frame. But it meeds big pockets and patience. Beginners are intraday traders with limited capital which they blowoff in short time. Next lot of traders is daily timeframe who are also wiped off with gap up and gap downs happening. Traders also do lot hedging which is smartly advocated this days. Gann's time there was no hedging he traded the weekly time frame with the trend identification technique. Trend identification on weekly timeframe is one week swings with higher high and higher low for uptrend and vice versa for downtrend (i.e. lower high and lower low ). See chart above when the trend changed on it. 08 jan 2024 weekly candle was the on to watch with lower high and lower low. It gave a higher close showing false recovery on price action. 15 Jan 2024 was a bull trap which was confirmed first by falling the earlier weeks range and finally more confirmation on break of lows. Confirmation on Gann levels was break of 75% range level which was the double bottom and false recovery. Current weekly candle is follow up candle of the downtrend. Confirmation by break of 66.66% level of the range with target of 50% level achieved today. Gann rule of 50% range comes to our rescue for trend identification. Trend decider level on weekly timeframe is 45370.70. Above it trend momentum on downside may slow down. The we need higher high and higher low on weekly timeframe for change of trend. Below 50% of the range will confirm the downtrend further. Read this write for numerous times it sinks in your trading psyche and it will take your trading to the next level. You will become a Royal Trader in market with weekly timeframe trading. As we move to higher timeframe mistakes are minimized and lower timeframe you multifold your mistakes. Daily time frame may need 5 times more decision making if you trade each daily candle. Now you can imagine magnification of mistakes on time frames lower than daily. Its up to you decide pros and cons of the explanation given by me. Happy Trading !!! N.B. Not a Trading advice. With usual disclaimers as applicable within the reach of this beautiful platform.
NSE:BANKNIFTY
by kbr9121965
Bank Nifty Support and Resistance Levels (24/01/2024Bank Nifty Support and Resistance Levels (24/01/2024): #### Support Levels: 1. **Support Level 1:** 45,000 - This is a crucial support level. If Bank Nifty breaks below 45,000 and sustains, it could signal a potential for a significant downside movement, possibly up to 44,400. #### Upside Resistance Levels: 1. **Resistance Level 1:** 45,450 - If the market opens below this level, it could act as an initial resistance point. 2. **Resistance Level 2:** 46,000 - A significant resistance level. If the market opens below 45,450, breaking above 46,000 might be a challenge. ### Technical Analysis Insights: - **Support Zone:** 45,000 is a crucial area where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement. A break below this level could signal more significant downside potential. - **Resistance Zones:** 45,450 and 46,000 are anticipated to be key levels where selling pressure might intensify, limiting immediate upward movements. - **Breakdown Caution:** Breaking below 45,000 might signify increased bearish sentiment and could lead to further downside movement. - **Upside Breakout Confirmation:** For a potential upside movement, Bank Nifty needs to trade above 45,500, and confirmation above 46,000 would strengthen the bullish case.
NSE:BANKNIFTY
by santubittu