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Bank Nifty Technical Analysis - 21st March 2024 Santubittu Bank Nifty Technical Analysis - 21st March 2024 ## Market Overview Let's examine the support and resistance levels for Bank Nifty based on recent market trends. ### Support Levels **1. Support: 46,400** - Significant support level for Bank Nifty. - If the market opens with a gap up and sustains above this level, it may signal potential upside movement towards 46,800. ### Resistance Levels **1. Resistance: 46,800** - Immediate resistance level to watch for. - Breaking above this level could indicate bullish sentiment, but traders should be cautious as it might face strong resistance. **2. Resistance: 47,200** - Major resistance zone if the market sustains above 46,800. - A breakout above 46,800 with sustained momentum could lead to further resistance near 47,200. ### Technical Insights #### Support Zone Analysis Bank Nifty is currently hovering near the support level of 46,400, which is crucial for maintaining the current bullish bias. A sustained move above this level could pave the way for further upside potential. #### Resistance Zone Analysis Traders should closely monitor price action around the resistance levels of 46,800 and 47,200. Breaking above these levels with strong volume and momentum could signal a bullish breakout, whereas failure to do so might lead to a reversal. ### Trading Recommendation Traders are advised to exercise caution and wait for confirmation before initiating new positions. A breakout above 46,800 with strong volume could present buying opportunities, while failure to sustain above this level might lead to a retest of support near 46,400. ### Disclaimer: Risk Management Trading in volatile markets carries inherent risks. Traders should implement effective risk management strategies and adjust their positions accordingly.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Technical Analysis - 19th March 2024 Santu Saha Bank Nifty Technical Analysis - 19th March 2024 ## Market Overview Let's examine the key support and resistance levels for Bank Nifty based on recent market movements. ### Support Levels **1. Support Levels: 46,400** - Crucial support level to watch. - Further downside potential if breached. - Breakdown below 46,400 may trigger a downside movement. ### Resistance Levels **1. Resistance Levels: 46,800** - Immediate resistance level. - Breakout above 46,800 could indicate bullish momentum. **2. Resistance Levels: 47,200** - Significant resistance zone. - Further upside movement possible above this level. ### Technical Insights #### Support Zone Analysis The support at 46,400 is critical for maintaining the current bullish sentiment. A breakdown below this level might lead to increased selling pressure and a potential downside movement in Bank Nifty. #### Resistance Zone Analysis Breaking above the resistance at 46,800 is essential for sustaining bullish momentum. Traders should closely monitor price action around this level, as a decisive move above 46,800 could signal further upside potential towards 47,200. ### Trading Recommendation Traders are advised to monitor price movements around the support and resistance levels. A breach below 46,400 could indicate a bearish bias, while a breakout above 46,800 might signal renewed bullish momentum towards 47,200.
NSE:BANKNIFTYLong
by santubittu
1
Bank Nifty Spot Chart Analysis for Today 23 Jan., 2024Bank Nifty Spot Analysis: Strategic Levels for Intraday Trading Introduction: In this analysis, we delve into the Bank Nifty Spot Chart Levels, identifying potential opportunities for intraday traders. The provided levels offer specific entry and exit points, along with well-defined targets and stop-loss parameters. Buy Setup: Buy at: 45976.35 Targets: 46393.65, 46601 Add one lot at: 45912.3 ❌ Buyer Stoploss: 45818.25 The buy setup suggests an optimistic outlook for Bank Nifty, providing traders with a defined entry point at 45976.35. The addition of another lot at 45912.3 demonstrates a strategic approach to capitalize on potential upward momentum. The stop-loss at 45818.25 serves as a crucial risk management tool. Sell Setup: Sell at: 45848.25 Targets: 45722.75, 45515.4 ❌ Seller Stoploss: 46006.35 On the flip side, the sell setup presents a bearish perspective, with a recommended sell level of 45848.25. Traders may consider this as an opportunity to profit from potential downward movements in the Bank Nifty. The stop-loss at 46006.35 is essential for managing risk and preventing excessive losses. Risk Management: Effective risk management is paramount in intraday trading. Traders should strictly adhere to the specified stop-loss levels and avoid overexposing themselves to undue risks. This disciplined approach helps safeguard capital and ensures longevity in the trading game. Day Range Analysis: Day Range: 542.8 Points The substantial day range of 542.8 points highlights the potential volatility in the Bank Nifty for the given day. Traders should remain vigilant and adapt their strategies accordingly, considering the wide range of price movements within the trading session. Conclusion: In conclusion, the Bank Nifty Spot Chart Levels provide clear buy and sell setups, each with defined entry and exit points. Traders are encouraged to approach these levels with a comprehensive understanding of market dynamics and their risk tolerance. The generous day range underscores the need for flexibility and adaptability in intraday trading strategies. Disclaimer: This analysis is for informational purposes only and does not constitute financial advice. Traders should conduct their own research and seek professional advice before making any investment decisions.
NSE:BANKNIFTY
by NumroTrader
bank nifty gann retracement levelsBank Niftyindex after being resisted twice at the 87.5% level has fallen nearly to 50% levels at 47363.55 with lows around 47410 to 47225 levels on the hourly chart. Bank Nifty Index leading the correction compared to Nifty 50 after ATH formed. Both indices have retraced down and taken support at 25% levels respectively. The 75% level at 47791.75 has acted as resistance for yesterday. So watch this level for decision making for trades ahead. Happy Trading !!!
NSE:BANKNIFTYShort
by kbr9121965
BANK NIFTY-Critical Support &Resistance LevelsBANK NIFTY: Bank nifty after a bullish run took a pause today. Major support levels :46700-750-Close below 46750 would make an attempt to fill the bearish gap upto 46500. 47000-47100/47270 acts as the resistance. Sustaining above 47300 -as per the Triangle pattern formed in lower time frame charts would make an attempt towards 47800-48000. Those who are positionally long shall trail keeping todays low as SL and so on for the coming days also for a positional target of 48000 and eventually to 50k (For Educational purpose only)
NSE:BANKNIFTYLong
by CSB68
Bank Nifty: Month December 2023Bank Nifty is on Life time high..... May we see Bank Nifty till the marked levels.... As per me 47300-400 range is a good resistance zone for the said Index. Still we may see a New high of Bank Nifty till the marked levels and then might be a good reversal to make it Life time High for next couple of months..... Bank Nifty may is on reversal mode or in upside mode. I am just sharing for the reading purpose, hence i am not giving any levels. Keep Learning with NG!!
NSE:BANKNIFTY
by nitinsgrover
BANK NIFTY-Trading below its 200DEMABANK NIFTY: Broke all major support levels incl of its 200DEMA at 43267. BANK NIFTY also formed a double top with neckline support at 43400 which is a bearish pattern in daily chart. On 23rd Oct it broke neckline support and as per Double Top chart the down fall target is equivalent to the depth of the pattern which is almost 2000 points. Next major support lies at 42500 followed by 42000. Bank nifty needs to close above 43200-400 to negate the pattern or otherwise sell on rise is expected eventually pulling the index down towards 42000 levels. (For educational purpose only)
NSE:BANKNIFTYShort
by CSB68
Bank Nifty Technical Analysis for Tomorrow **Bank Nifty Technical Analysis for Tomorrow (October 11, 2023)**: **Support:** 44449/44300/44100 **Resistance:** 44713 **Technical Analysis:** * Bank Nifty closed at 44326.45 on October 10, 2023, after forming a bullish doji pattern. * The index is facing resistance at 44449 levels. If the index opens gap-up above this level tomorrow and sustains above it, then it can act as a support for the day. * On the upside, 44713 is a big resistance level. If the index breaks this level, then it can lead to further bullish momentum. **Trading Strategy:** * For the upside, traders can buy Bank Nifty if it opens gap-up above 44449 levels and sustains above it. The stop loss can be placed below 44300 levels. The target can be kept at 44713 levels. * Traders can also buy Bank Nifty if it breaks the resistance level of 44713 levels. The stop loss can be placed below 44600 levels. The target can be kept at 44850 levels. **Disclaimer:** This is just a technical analysis of Bank Nifty. It is not a recommendation to buy or sell the index. Traders should always do their own research before taking any trading decisions. **Additional Notes:** * It is important to note that Bank Nifty is a volatile index. Traders should be cautious while trading in this index. * Traders should also keep an eye on the global market cues, as they can have a significant impact on the Indian market. * Traders should always use stop loss and risk management techniques while trading in any market.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Technical Analysis for Tommorw **Bank Nifty Technical Analysis for 10/10/23** **Support Levels:** * 43770 * 43500 **Resistance Levels:** * 44449 * 44900 **Overall Bias:** Bearish **Analysis:** Bank Nifty broke its support level of 43995 on October 9, 2023, and closed below it. This indicates that the bears are in control and the index is likely to fall further in the short term. The next major support level for Bank Nifty is 43770. If the index breaks this level, it could fall to 43500 or even lower. On the upside, the immediate resistance level for Bank Nifty is 44449. If the index manages to close above this level, it could rally to 44900 or even higher. However, the overall bias for Bank Nifty is bearish. This is because the market is in a downtrend and the index has broken a key support level. **Trading Strategy:** Traders can sell Bank Nifty at the current levels with a stop loss above 44449. The target for this trade is 43770 or 43500. Traders can also buy Bank Nifty at 43770 with a stop loss below 43500. The target for this trade is 44449 or 44900. It is important to note that this is just a technical analysis and traders should always do their own research before making any trading decisions.
NSE:BANKNIFTY
by santubittu
Bank Nifty Analysis for 20Sept2023**Bank Nifty Analysis for 20/09/2023** **Key Points:** * The Bank Nifty rejected from the resistance level of 46315 * The market closed below the support level of 46154, indicating a bearish trend. * It is possible that the market could retest the lower support level of 45600 in the coming days. **Sub-Points:** * **Support Levels:** 45800/45900 * **Resistance Levels:** 46000/46100/46200 **Trading Recommendations:** * If the market opens gap up above 46000, wait for a breakout of 46100 before going long. * If the market breaks below 45800, go short with a target of 45600. **OI Data Analysis:** * The OI data analysis shows that the strong support level at 45800/45900 is confirmed by the high PE writer volume. * The strong resistance level at 46000/46100/46200 is also confirmed by the high PE writer volume. **Overall Analysis:** The Bank Nifty is in a bearish trend, and it is likely that the market will continue to decline in the coming days. However, it is important to note that the market is volatile, and there could be sudden reversals. It is therefore important to trade with caution and use stop-losses to protect your capital. **Disclaimer:** This analysis is for educational purposes only and should not be construed as investment advice. I am not a certified financial advisor, and I do not recommend any specific investment strategies. Please do your own research before making any investment decisions. **Additional Notes:** * Traders should keep an eye on the global markets for any major developments that could impact the Indian market. * The upcoming earnings season could also have a significant impact on the Bank Nifty. * Traders should be aware of the risks involved in trading options and should only trade with money that they can afford to lose #tradelikeapro #traderlife #tradingcommunity #tradingcommunity #stocktrader #banknifty
NSE:BANKNIFTY
by santubittu
Bank Nifty: Friday - 20/01/23Bank Nifty Intraday Levels: Chart: Logic: Levels: Support: 42300, 42225, 42110, 41865, 41700 Resistance: 42500, 42700, 42900 OI Data: ---------------------------------------------------------------------| Bank Nifty => Price: 42328.85 ATM: 42300 , ITM: 42200, 42100, 42000 , OTM: 42400, 42500, 42600 ---------------------------------------------------------------------| Highest OI Call in Bank Nifty per OI data: 42400 Highest OI Put in Bank Nifty per IO data: 42300 Nearest Major Resistance in Bank Nifty per OI data: 42700 Nearest Major Support in Bank Nifty per IO data: 41900 ---------------------------------------------------------------------| Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 42550 | 42458 | 42700 | 42850 ----------------------------------------- SELL | < 42370 | 42450 | 42200 | 42000 +++++++++++++++++++++++++++++++++++++++++
NSE:NIFTYLong
by pradipandsuvra
Bank Nifty: Wednesday - 18/01/23Bank Nifty Intraday Levels: Chart: Logic: Levels: Support: 42000, 41850, 41650 Resistance: 42450, 42700, 42800, 42900 OI Data: ---------------------------------------------------------------------| Bank Nifty => Price: 42235.05 ATM: 42200 , ITM: 42100, 42000, 41900 , OTM: 42300, 42400, 42500 ---------------------------------------------------------------------| Highest OI Call in Bank Nifty per OI data: 42500 Highest OI Put in Bank Nifty per IO data: 42000 Nearest Major Resistance in Bank Nifty per OI data: 42400 Nearest Major Support in Bank Nifty per IO data: 42100 ---------------------------------------------------------------------| Trade setup: +++++++++++++++++++++++++++++++++++++++++ Trade | Level | SL | T1 | T2 ----------------------------------------- BUY | > 42300 | 42200 | 42500 | 42700 ----------------------------------------- SELL | < 42150 | 42250 | 42200 | 41850 +++++++++++++++++++++++++++++++++++++++++
NSE:BANKNIFTY
by pradipandsuvra