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Bank Nifty- Bear zoneBank Nifty broke the 50EMA level today. If there is a gap up tomorrow and prices sustain- with bank nifty taking support at this level- then we might see revival of the uptrend. More likely is to see in the next few trading sessions, the selling pressure taking bank nifty down to camarilla support 37,760 -if this level is breached, then next support is at 36,397. Today we had a virgin CPR, so bank nifty will find it harder to break upwards. Tomorrow's session will see a wide CPR, so we might have a sideways market.
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty Trade Plan for 15 NOV 2021Bank Nifty Trade Plan for 15 NOV 2021 Bank Nifty traded in a very tight range in the previous session and formed a inside day bar on the daily time frame waiting to explode. In case Bank Nifty opens gap up above 18831 and sustains then we can expect BN to test 38900 levels as first target. In case 38930 is taken out we can expect BN to test 39047/39100 levels. If weekly resistance of 39125 is taken out we can also expect next resistance around 39400 which is unlikely to test on same day. In case BN finds resistance around 38831 levels we can expect BN to test previous session closing price & CPR which will be our shorting targets. 38636 is a strong support for Bank Nifty, if that supports holds good & BN trades above CPR we can again look for possible long opportunity with first target of 38831. In case if CPR is compromised then we can look for shorting opportunity with possible target of 38500.
NSE:BANKNIFTY
by RaviChandran_Rajkumar
1
Bank Nifty -Gap up opening inside CPR todayBank Nifty closed below 20EMA yesterday. It struggled to clear 39075 - so that is a level to watch out today also- will bank nifty sustain above this level after a small gap up opening? Once Bank Nifty opens inside the narrow CPR, a breakout or break down are both a possibility-once the BC/TC are breached. Narrow CPR also indicates a trending day. There is chance of a bounce back as 20EMA will try to act as a magnet on price. Or, prices might go further down and take support at 50/100/200 EMA...let us see. So which way do you think bank nifty will decide to go?
NSE:BANKNIFTYShort
by PromodSshrivastava
Bank Nifty Trade Setup for 09 Nov 2021Bank Nifty Trade Setup for 09 Nov 2021 Bank Nifty had managed to close above 39400 levels showing good strength. In case BN open flat and pull back to CPR finds a support, we can go long with first possible target of 39600/39700. In case of 39650 taken out and sustains we can expect possible next target possible targets as marked on charts. We can expect some shorting opportunity only if 39234 is compromised and forms a resistance.
NSE:BANKNIFTY
by RaviChandran_Rajkumar
3
BANK NIFTY - BULLISH BAT PATTERN|| DEMAND ZONE|| DAY TFBank Nifty is forming a XABCD bullish bat pattern. This pattern gives us a demand zone or a potential reversal zone from where the downtrend may reverse. Buy bank nifty between 39850-39550 Stoploss 39290, below this level we may witness long unwinding as well. If the RSI crosses below 50, the fall could be quicker until 30. Best setup: RSI 30-20 and the price at the PRZ of XABCD. Happy trading :) This is just for educational purposes.
NSE:BANKNIFTYLong
by Sanjan91
BANK NIFTY AT A SUPPLY ZONE. DEPENDS ON THE RESULTS.Bank nifty is near its swing high, it may take a correction or take out the supply zone with the short covering moves. Here we analyze the PSU bank index, Private bank index, and ICICI bank to see what could be the scenario on Monday. Today, we have ICICI bank's results which decide the Bank Nifty's run. In the above image of the PSU bank index, we can see that the breakout has yet to happen. The breakout point is B. The supply zone is also 5% away from the breakout point. Anyways, the PSU bank index won't be of much help as PVT bank contribution in Bank Nifty is nearly 87% and SBI alone from the PSU bank sector contributes nearly 12.5% Out Private bank sector, ICICI is the second-highest contributor with nearly 21%. It is important for us to know where the PVT bank sector index and ICICI bank are standing right now. In the above image of PVT bank index, we can see it is almost at the supply zone. It is very critical to have good results or else shorts could enter here. Here's the ICICI bank index, it is trading above the monthly crab pattern's terminal price. Here it could be dangerous either for the longs or shorts. A rapid movement could come in any direction. ICICI results could play an important on Monday but there would be other private banks that could cover the loss by reaching the expectations in case ICICI fails. This is just my analysis and for educational purposes.
NSE:BANKNIFTY
by Sanjan91
Bank nifty harmonic + elliot wave studyBANK NIFTY SPOT 39700 Harmonic + Elliot + Chart pattern Time frame : Daily Bearish butterfly pattern formation on daily time frame with PRZ in range 39800-40000 levels In last leg of butterfly pattern that is in leg CD there is elliot wave fromation Elliot wave :- sub wave 5 of major wave (3) is on verge to mature, if major wave (4) unfolds retracement of 23.6 to 38.2% can be seen of last swing, which can lead to levels of 38700 or 38000. Major wave 2 have retraced around 78.6% of wave 1, Major wave 3 have extended around 2.618% of wave 1, Rsi divergence on hourly time frame observed in between recent swing high. Chart Pattern :- Pole and flag pattern formation is observed with height of pole around 17% after consolidated in form of flag for 32-35 sessions and finally gave a breakout,, index have completed its measured move of its pole height i.e. 17% Reversal confirmation once today gap is filled and index manage to give close below last weekly closing levels.
NSE:BANKNIFTY
by RUDRA007
2