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BANK NIFTY WEEKLY OUT LOOKBANK NIFTY is down by 4.49% in last week. So what to expect next week? Bank nifty in a zone where it was in consolidating for 4 months (MAY 21 -AUG 21) before finally breaking away. CHART PATTERN- We can see BANK NIFTY was in rising Chanel from 26 Nov- 16 Dec before breaking it with heavy selling pressure. This may also be said as GAP FELLING formed on 7 DEC which can be seen on small TF (1H). SUPPORT & RESISTANCE-The next support can be considered as 35300 level or 34000 if the price fall below 35000 level BANK NIFTY can see RESISTANCE at 36500-400 level due to old resistance zone & increase in OI at this levels that's my overview for next week from my side. PLZ feel free to share your opnion as weel THANK YOU
NSE:BANKNIFTY
by rs7219163792
Bank Nifty Daily chart setupBank nifty though is very weak, but there is one last possibility of it to rise in short term from its important support. On daily chart, it can be seen in process of formation of head and shoulder pattern. 1 head and shoulder completed, Monday will determine its next move, if neckline/support is broken, then we may see 500-1000 points fall. if it reverts from support, we may see few hundreds points rise in form of next shoulder. Monday will determine Bank Nifty's next path.
NSE:BANKNIFTYLong
by sckeshari344
Bank Nifty- 20EMA, 50EMA and 100EMA- all 3 EMAs breached todayBank Nifty breached 20EMA , 50EMA and 100EMA all three EMAs by a single red candle today. PCR is down at 0.63 -option writers are wary of fall in bank nifty, so they are betting on the call side. FIIs sold heavily while DIIs tried to buy to halt the fall unsuccessfully. If this pattern continues this week, we could see continuation of the fall. The levels are marked on the chart on the downside and upside as well.
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty- On the way up to fill the gap ... but a hurdleBank nifty made the right moves today towards filling the gap left behind on 26Nov. Hurdle - is to cross the crucial resistance level of 36591. Today Bank Nifty has closed below this resistance level. If there is a gap up opening tomorrow, then it will be on its way up. Put call ratio at 0.91 is supportive of a continued positive sentiment. Omicron news has not dampened the sgp nifty futures (ref nifty analysis below) All set then for a strong up move as Bank Nifty marches on after taking 200EMA support. Next big resistance will be 100EMA? What do you see?
NSE:BANKNIFTYLong
by PromodSshrivastava
Bank Nifty- Will it fill the Gap tomorrow?Bank Nifty has a narrow CPR tomorrow, so we could witness a trending day. We could see the present upswing continue tomorrow with Bank Nifty trying to fill the gap left behind on 26th (pls check levels marked on chart) With DIIs buying heavily and good news of economy front and comfort that there is no coronavirus in India- we could see yet another rally. However 100EMA could act as a significant resistance causing the downtrend to resume. PCR jumped today to 0.96 which signals bullish bias amongst the option writers. So lets see how markets go tomorrow.
NSE:BANKNIFTYLong
by PromodSshrivastava
Bank Nifty - breached Camarilla R3 today- weak on weekly chartBank Nifty closed with a bearish red candle today breaching the critical level of camarilla R3 35752. On weekly charts, this is the second successive weekly candle close below 20EMA. Unless we see a recovery above 20EMA in the next few sessions, we could be witnessing a definite move to cover the gap with the 100EMA. On the upside, resistance is immediately on 35752 followed by 37753. On the downside 34260 and 32754 are the next support levels. Good news on GDP growth in Q2 could bring cheer but the PCR on bank nifty has dwindled further today indicating sellers are more bearish-- on contra view we could witness a retracement rally upwards. With heavy selling by FIIs we can only wonder how sustainable such a rally would be, unless DIIs again match with heavy purchasing like we saw today. If we see the current week candle finally close below 20EMA then we could see further corrections beyond the 15.5% seen so far. What do you think?
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty - Indications of reversal with 200EMA supportBank Nifty has taken support of 200EMA and made a strong pullback on the back of some strong buying by DIIs- 4600cr today. (FIIs sold for 3300cr) Tomorrow (30nov) will have a narrow CPR- a trending day is expected with a small gap down opening. If CPR is breached in strong upmove, we could see levels of 36400. Next resistance is at 37753. On the downside, support is there at 34260. With a 15.6% correction behind it, will Bank Nifty make an upmove tomorrow? Let us wait and see.
NSE:BANKNIFTYLong
by PromodSshrivastava
Bank Nifty -15% down, where is the bottom?Bank Nifty has corrected almost 6000 points, fall of -15% (compared to Nifty -9%) . Both Nifty and Bank nifty have breached 20EMA with a strong red candle -breaching the support 36400 (we indicated this in prev analysis) in the process. next support levels are 35752 & 34260. With FIIs selling 101,000cr since april (of this 31000cr in Nov so far), a revival from here will definitely require a U turn from them. Post 34260 level, the movements should be gradual after a period of consolidation. Meanwhile a positive news on covid should bring back cheer & a faster recovery. let us see how the prices actually react on Monday & sessions post that.
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty - Slips below 100EMA, makes a Doji Bank Nifty made a doji today- indecisive cross candle- so it could move in any direction. Since it slipped below 100EMA - indicates a weaker bias? There may be more weakness to come. Next support at 36400, and if it manages to move up, then resistance is at 37753. FIIs sold for 2300cr today - unless we see a pause here, Bank Nifty might find it more tough to find solid ground under present conditions. So will we see the weakness to continue in coming sessions....let us see.
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty - Pullback aheadBank Nifty took support of 100EMA and remained firmly above 100EMA through the day. On 23rd Bank Nifty had managed to keep its head above 100EMA closing just above the line. So todays price action was critical. Also the green candle. Possibility of a pullback from here as long as open is above the 100EMA level- and price is sustained, we could see a few more sessions of Bank Nifty pulling back further (next resistance 37755). Let us see how the prices move tomorrow.
NSE:BANKNIFTYLong
by PromodSshrivastava
Bank Nifty analysis for 24th Nov 2021Bank Nifty Daily charts show no hope of recovery. In fact, the daily charts have just gotten into a bearish cross over in the EMA along with the MACD and its' histogram. Hourly charts on the other hand give me some hope. MACD and histogram have given the initial bullish reversal pattern. RSI is in an up-trend too. The confirmation would be when the EMAs give us a strong crossover. 15 min charts are not interesting again but we cannot deny the fact the the chart has a new up trend. The up trend is not very strong or prominent but it does look like a sunshine in the meadows. RSI on the other hand is over the 50 mark and in the bull zone but MACD looks weak now. Overall, I feel that we will see a small running correction tomorrow. I am still not confident because of the MACD signals on the daily chart. CMP:- 37272.80 Support (low made today):- 36647.75
NSE:BANKNIFTY
by virralthakkaar
Bank Nifty - Wednesday 24 Nov'21 - Trend & LevelsBank Nifty Trade Plan for 24 Nov 2021 - Wednesday Bank Nifty still shows some weakness. Long Unwinding seen on 37000 CE Next support is 36870 will act as Strong Support. For tomorrow I'm expecting market to Open Flat / small gap down.. and will see some buying momentum and then it could be BEARISH day. If 36870 Breaks down then bank nifty will fall more tomorrow and Target is 36500 - 36300 - 36000 Indicator Description of the lines are given below in Order: Aqua ---------------------Camarilla - H4 Bullish Breakout Green ------------------- R1 Aqua -------------------- Camarilla - H3 Sell Zone Orange ------------------ BC Red / Green (Middle) - Pivot Point Yellow ------------------ TC Blue --------------------- Camarilla - L3 Buy Zone Red ---------------------- S1 Blue --------------------- Camarilla - L4 Bearish Breakout Happy Trading!!! :-) Disclaimer : The idea is purely for Knowledge sharing purpose. Do your won analysis and consult your finance advisor before taking any trade. I'm not responsible for any of your profit / losses. Please do like and support for more Ideas! Comment if you need any specific stock/index analysis..
NSE:BANKNIFTYShort
by vijiviven