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Bank Nifty Trade Plan for 13 JAN 2022Bank Nifty Trade Plan for 13 JAN 2022
Bank Nifty bullish streak is still on, expect a gap up opening around 38900-39000 levels.
After a gap up opening, need to wait for the price action in first 15 min before initiating any trade. Unless it sustains above 39k no long opportunity.
39000/39100 are key resistances to watch out , any resistance around those we can possibly short and can expect 38850/38800.
A very narrow CPR in Bank Nifty today.
Bank Nifty- Will it fill the Gap tomorrow?Bank Nifty made an indecisive candle today (almost a Doji) ....however it left a gap below and closed in green. This is the 10th consecutive green candle. Today it failed to break above critical pivot resistance of 38832.
Some downside factors - PCR went down to 0.98, indicates option writers expectation of a downward move.
Option indicates expiry level of 38500, which is well below todays close.
FIIs took to selling -1002cr, DIIs bought for 1332cr taking the net to 330cr buy. Despite this support, Bank nifty failed to cross the resistance.
CPR is a flat line with no width indicates a trending market.
Gap up opening is indicated for tomorrow, so if the gap up sustains above 38832, then the fears of downside can be forgotten as 38832 will act as a strong support.
Given the momentum in Bank Nifty, it is quite probable that we will see the momentum take price clear of the resistance. Also, net buying support will help upside. Teh consolidation today will probably help the index to make another strong upside move. What do you think?
Bank Nifty @ important levelBank Nifty @ 61 % Retracement level and daily supply zone. bank nifty will fall from here for some days or consolidate.
Bank Nifty Trade setup for 12 JAN 2022Bank Nifty Trade setup for 12 JAN 2022
Global markets looks bullish and Bank Nifty expected to gap up around 38620 levels.
38600 zone is a strong resistance, if it sustains and manages to find support above 38630 the we can expect a possible up move to next targets with SL below R1.
In case of resistance confirmed around R1 we can expect BN to again test PDC & CPR.
Bank Nifty-Hanging man-caution critical level 38458Bank Nifty made a bearish hanging man candle after several bullish sessions. The level 38458 proved to be a tough one to sustain above for bank nifty today---despite supportive buying by FII (112cr) and DII(379cr) net 491cr buy by institutions. 38458 is a pivot level on the shorter timeframe.
So if bank nifty opens above this critical level and sustains above previous high, then we can safely assume that the bullish sentiments continue-so next resistance would be 38743/38832.
Otherwise we can trade as per downward price action where next support is 37457.
Do you see some consolidation tomorrow?
Bank Nifty - Next resistance at 38847Bank Nifty moved up in the closing hours with a very strong momentum.
If the momentum continues with todays high breached (gap down opening indicated by nifty tomorrow) then we can safely assume a continued move towards 38847.
Despite net FII selling, we saw a big momentum. So with support from FIIs, we could see a strong move to the next level of 38847.
PCR at 1.12 has become bullish compared to yesterday.
CPR is going to act as a major support level, for an upwards move.
what do you think?
Bank Nifty Trade Plan for 10 JAN 2022Bank Nifty Trade Plan for 10 JAN 2022
Expecting a gap up opening in bank nifty and looking bullish .
If bullish breakout is taken out then we can possibly go long and sit for extended targets as plotted on the charts.
Any rejection around R1 or Bullish Breakout zone, we can expect BN to be in a range and might test CPR.
Bank Nifty- Inside bar candle todayBank Nifty made a bullish inside bar candle today.
Big positives today--- Despite massive gap down, BN rebounded to close above critical support pivot level of 37457.
FIIs sold massively (-1927cr) against 801cr DII buying =net 1126cr sold by FII/DII.--despite this Banknifty managed to hold the pivot support and made a bullish candle.
CPR is narrow tomorrow (56points width only) so it could add some more strength on downside support for a trend upwards.
PCR however dropped significantly to 0.82 which indicates that option writers are betting on further downside.
FIIs and global cues still seem to favour a sell off....let us see if Bank nifty consolidates and resumes the uptrend tomorrow.
Bank Nifty Trade Plan for 06 JAN 2022Bank Nifty Trade Plan for 06 JAN 2022
Global markets showing some bearishness and Bank Nifty is at resistance.
Expect Bank Nifty to open gap down around 37500 and might try to find support from CPR. Watch out for the price action around these levels.
Expect Bank Nifty to trade in a range today, so 38000 - 37400 strangles would be ideal as per my view.
As Per Open Interest
Resistance - 38000
Support - 37400
Bank nifty good long candidateBank nifty at good support juncture and historical study says correction time over,, and good time ahead
trend change in nifty from tomorrow onwards expected
Note :- we are long from last day and have added long today
personally holding long position
Bank Nifty Trade Plan for 04 JAN 2022Bank Nifty Trade Plan for 04 JAN 2022
After a good rally can expect some profit booking today.
Expecting a flat to small gap up opening.
Expected Range:
Downside - 36000
Upside - 37000
Very wide CPR, can expect to be in a range. Any pull back to Bullish Reversal zone(36150) is a buying opportunity in Bank Nifty and expect above targets.
On opening if the Previous day high is sustained and support confirmed we can possibly go long with targets as plotted on the chart with Previous day close as SL.
In case previous day close is compromised then we can expect BN to test out Bullish reversal zone and once support confirmed we can buy at these levels.
Bank Nifty- Finally breaches 200EMA with a bullish candleBank nifty broke above 200EMA witha strong bullish candle and clsoed above it. FII 575cr and DII 1741cr strong buying support finally propelled bank nifty above 200EMA. Question is whether FIIs will continue to buy and will it sustain above 200EMA. The PCR at 0.97 is certainly encouraging sign from option writers who have a more balanced view (rather than a bearish view on bank nifty thus far).
Vix at 16.225 has dropped by 2% on 31st which should encourage investment from FIIs. Nifty has shown appreciable strength as well. Should the momentum carry we could see 100EMA as the next major resistance as 200EMA will act as a major support from here on.
Let us see how markets open on monday.
Bank Nifty- 9th consecutive candle below 200EMA
Bank Nifty closed with a green candle but with little to cheer as it closed yet another daily candle below 200EMA.
35358 is a critical resistance on the upside while 34456 is the next support below.
PCR at 0.73 indicates option writers' view expecting some more downside. CPR is a narrow one with 66 points width, so we could expect a trending day.
Continued selling by FIIs 986cr & 578cr buying by DIIs resulted in a net 409cr selling. Bank Nifty could hold on to previous day's levels is a signal of some strength.
Till the 200EMA is breached, however we should expect more downside. Let us see how it trades this coming final session.
Bank NiftyBank Nifty
Above 35053
Target 35300,35465,35553,35677
Below 34890
Target 34600,34420
Comming week bank Nifty fast moving only CE
BANK NIFTY - DOUBLE TOP resistance AT PMLBank nifty exactly made a double top reversal pattern at the previous month low, so the price may come to 34000, and breaking the above level may trigger the price to next lower levels.
Bank Nifty- Red candle closes below 200EMA, 8th day in a rowBank Nifty breached 35k in the closing minutes after a long consolidation during the day. PCR fell to 0.7 with option writers fearing more downside. This fall despite net 32cr buying by FII/DII today. CPR tomorrow is 60pts wide -open below CPR will probably result in CPR resistance and a sharp downtrend.
34456 is strong pivot support on the downside.
8th consecutive day Bank Nifty has closed below 200EMA. Let us see how it trades tomorrow...
**For levels for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 -
Nifty & Bank Nifty levels - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10pm.
Bank Nifty Trade Setup for 29 DEC 2021Bank Nifty Trade Setup for 29 DEC 2021
Bank Nifty likely to open with a small gap down.
If you get a chance and find the Bearish Reversal getting rejected on opening or CPR taken on the lower side we can possibly expect Bank Nifty to test lower targets and possibly close yesterday gap.
Going long only if PDH is taken on the upside or once the yesterday gap is filled.
Bank Nifty- 7th consecutive close below 200EMABank Nifty made a red candle today, despite buying by both FIIs +207cr and DIIs +567cr --which indicates some worry.
PCR dropped today to 0.93 indicating reluctance of option writers on Put side.
CPR is almost a single line with almost no width--indicates a trending day. Will Bank Nifty find institutional buying support to breach the 200EMA or will we see some offloading and profit booking on the back of a higher close today---i would go with the latter--we should see some downward move. Lets see how markets go tomorrow.
**For levels for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 - Nifty & Bank Nifty levels - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10pm.
Bank Nifty- 34384 critical supportBank Nifty closed with a green candle today taking support at 34384 pivot. Worry remains that it is still trading below the 200EMA.
FIIs sold for 1038cr while DII bought for 956cr today. So even without significant selling pressure form institutions, the markets couldnt break away upwards.
PCR is at 1.11 which shows sense of relief from put writers - contra view could be that we could see a downside move sooner.
So we could have bank nifty move sideways given that the CPR is much wider than we saw today.
**For levels for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 - Nifty & Bank Nifty levels - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10pm.
Bank Nifty Trade Plan for 27 DEC 2021Bank Nifty Trade Plan for 27 DEC 2021
Bank Nifty expected to open with small gap down.
Descending CPR in Bank Nifty, bearishly biased.
Any rejection from CPR is a shorting opportunity today.
If PDL & S1 is compromised we can expect Target 2 getting testing on lower side.
Bank Nifty- Takes support at 50EMA, more downside to come ?Bank Nifty has taken support at 50EMA this week. However the FII (-715cr) and DII(-43cr) both selling off on friday -indicates propensity to continue selling Which might mean more downside to come. A small pullback however cannot be ruled out. Let us see how markets go on the last trading week this calendar year...
For calculations on CPR and more data for tomorrows trade-- you may want to check my twitter handle @OptionsNo11 for more on Nifty & Bank Nifty levels for Monday 27Dec2021 - Vix , FII , CPR & options/ PCR data. The calculations are posted on this twitter handle @OptionsNo11 every night by 10 or morning by 830am -well before market hours.
BANK NIFTYBank Nifty Chart
Time Frame - 1 hour
Conclusion - Bank Nifty is range bound and is in correction phase
Bullish only above 35500
Bearish only below 34500
This chart is only for educational purpose. Do your own analysis before taking any trade or contact your financial advisor
