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bank NiftyBank Nifty Bank Nifty in correction mode. Into a lower top and lower bottom formation. Support coming from the earlier breakout point of 32861. The low registered last week was 32391 but closed at 33006. A recovery was witnessed but could not cross the lower top of 34425. Relatively Bank Nifty weaker to Nifty in the current correction phase since the peak formed in Feb'21. In the event of a fall and close below 32391 expect a slide to 31238 and below. The demand zone at lower level will be 30957-28957 which may coincide with RSI getting into the oversold zone if fall continues. A correction has been witnessed reasonably in relation to the rise from 29661 to 36832. The correction has test the 61.8% retracement of 32746. The low made till now 32391. It has also found the support of channel low parallel line. We may witnessed a new rally or a x formation to test the upper channel line. As long as 32391 is not violated price could find support at 32746-32391. Expect near term reversal breakout above 34425.
NSE:BANKNIFTY1!
by hitendravasudeo
BANK NIFTY gap provides strong support to itbank nifty fills up the gap which I had mentioned in one of my post. and gap provides strong support to it. stochiastic is in over sold condition and there is divergence between price and oscillator. Hence bank nifty may bounce from here. as such it is premature to assume that it is going to take out all time high. as per me another selling opportunity lies ahead. at present my view is neutral. but one lesson market teaching every body don't follow gap up or gap down.
NSE:BANKNIFTY
by bijoy2526
5
Bank Nifty post market analysis on 15-03-2021 - ShortBank Nifty post market analysis on 15-03-2021 - Short Opportunity Short opportunity at 9:55 candle's low with 1:2 risk reward ratio Reason : Market breaks 5th March support at 9:30 am candle and retraces that level at 9:55 candle with bearish pinbar confirmation Entry : 9:55 candle's low with 92 point as Stop loss and 186 points as a Target Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
NSE:BANKNIFTYShort
by ponraj_srinivasan
Bank Nifty FuturesBank Nifty Futures RSI on daily charts has just bounced from 50. Moving average are just crossing over and there was a recent Doji which could be a start of a new uptrend. Daily charts means that this study is for a positional or short-term trade with a timeframe of about a week. Intraday charts or 15m charts look a little doubtful. I am looking at Heikin Ashi to understand the trend and the closing candle was a red one and this means that we might see a little weakness in the start of the day. I tend to lean more towards the chances because RSI is in the overbought range as well. The first support is at around 36000 which is a good 485 points from the closing of 36485. Entry to make new long positions can be made at around 36300 levels with stop loss well below 36000. I feel that bank nifty will bounce back once it finds support.
NSE:BANKNIFTY1!Long
by virralthakkaar
Bank Nifty post market analysis on 23-02-2021Bank Nifty post market analysis on 23-02-2021 Short opportunity at 10:35 am candle's low with 1:3 RR Reason : Market retraces yesterday's breakout zone and reversed with Bearish pinbar confirmation High probability trade setup : Yesterday's support becomes resistance + Top CPR + Descending channel resistance + Bearish pinbar confirmation at resistance area Disclaimer : All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
NSE:BANKNIFTYShort
by ponraj_srinivasan
3