#Banknifty directions and levels for April 1st.Bank Nifty also reflects similar sentiment. Gift Nifty is indicating a gap-up start, suggesting potential consolidation initially. After that, if it breaks the previous high, we can expect the rally to continue. Alternatively, if the gap-up is not sustained, we can anticipate a minor correction initially. If it finds support around the 38% level, it may form a consolidation structure. However, if it breaks the 38% Fibonacci level, we could see a correctional wave ranging from 50% to 78%.
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Stock Market Today: Top 10 things to know before the market openHere are the top 10 things to know before the market opens on March 27:
1. The Sensex and Nifty are expected to start negatively, indicating a loss of 44 points for the broader index based on GIFT Nifty trends.
2. On March 26, the market ended lower after three days of gains, with the Nifty around 22,000 amid selling in IT, bank, and media sectors.
3. At close, the Sensex was down 361.64 points (0.5%) at 72,470.30, and the Nifty down 92.10 points (0.42%) at 22,004.70.
4. The Nifty 50 may face resistance at 22,056, 22,086, and 22,134 levels, with immediate support at 21,961, 21,931, and 21,883.
5. India's fiscal deficit for FY23 stood at Rs 7.58 lakh crore, equivalent to 2.0% of GDP.
6. The current account deficit for Q2 of 2023-24 was revised upward to 1.3% from 1.0% due to customs data adjustment, as per RBI.
7. The dollar weakened as traders awaited Fed policy clues, while the yen remained steady after Japan's finance minister mentioned potential measures against currency weakening.
8. Gold prices rose on a weaker U.S. dollar, while investors awaited data for inflation trends to gauge the Fed's interest-rate stance.
9. Oil prices showed little change as investors had mixed views on Russian refinery capacity loss and a slightly weaker U.S. dollar provided some support.
10. FIIs net bought shares worth Rs 10.13 crore, while DIIs purchased stocks worth Rs 5,024.36 crore on March 26. NSE retained SAIL on the F&O ban list for March 27, removing Biocon, Tata Chemicals, and Zee Entertainment Enterprises.
PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 20 MARCH 202420 MAR 2024
WORLD MARKETS
1. US markets are consoldation with a bulllish bias.
2. Europe is mixed. Asia is looking BEARISH.
INDEX HEAVY WEIGHTS
1. India VIX is above 14 indicating increase in volatility.
2. GIFT Nifty is indicating a flat opening.
ANALYSIS
1. Indices are consolidating with a negative bias.
2. IT stocks took a beating and pulled down nifty, whereas bank nifty was more stable and consolidated with a negative bias.
3. Nifty has support at 21750. Any break of this will give us 21550.
4. Bank Nifty on the other hand looks confused. With 46500 - 46800 as resistance.
TRADING PLAN
1. NIFTY OPEN BETWEEN 21900 - 21750 : Sell any rally to 22000 and break below 21900.
2. NIFTY OPEN ABOVE 21900 : Sell any rally to 22000 and break below 21900. Tgt 21750.
3. NIFTY OPEN BELOW 21750 : Sell any rally to 21850 -21900.
4. BANK NIFTY OPEN BETWEEN 46480 - 46280 : Sell any rally to 46550 and break below 46500.
5.BANK NIFTY OPEN ABOVE 46480: Any rally to 46600 and break below 46500 is a sell.
6. BANK NIFTY OPEN BELOW 46280:Sell any rally to 46400.
DISCLAIMER
1. I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGSITERED FINANCIAL ANALYST FOR ANY TRADE RELATED QUERY. THE AUTHOR OF THIS ARTICLE HOLDS NO LIABILITY FOR ANY TRADE TAKEN BY THE READER.
PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 18 MAR 202417 Mar 2024
WORLD MARKETS
1. US and Asia is consolidating with a negative bias.
2. Europe is consolidating with a bullish bias.
INDIA VIX AND GIFTNIFTY
1. India VIX is below 14 and GIFT Nifty is indicating 48 points down tick at 21980. This amounts to 46400.
INDIEX HEAVY WEIGHTS
1. HDFC Bank is consolidating between 1435 to 1475. Tomorrow we may see a positive up move.
2. ICICI Bank has taken support at 1070 and is trading above 1075 at 1080.
3. Reliance is taking support at 2830 levels. Reliance is looking very bearish. However it is at a crucial support of 2830.
ANALYSIS
1. Nifty is holding on to 22000 till now. Any decisive break of 22250 will be bullish. However any break of 22000 will lead to 21770.
2. Bank Nifty has very strong resistance at 46900. Any rally to 47000 is a sell. However we may see some consolidation before we see a trending move.
TRADING PLAN
1. NIFTY OPEN BETWEEN 21975 - 22075: NO TRADE. However Any consolidation at 21900 and move above 22000 is a buy.
2. NIFTY OPEN ABOVE 22075 : Wait for a consolidation and break above 22130. However any dip to 21950 is a buy.
3.NIFTY OPEN BELOW 21975: Wait for a consolidation and break below 21900.
BANK NIFTY OPEN BETWEEN 46500 - 46750: Any dip to 46400 and move above 46600 is a buy for a tgt of 46800.
5. BANK NIFT OPEN ABOVE 46750 : Buy any dip to 46500 and move above 46750 is a buy. Tgt 46850 - 46900.
6.BANK NIFTY OPEN BELOW 46500 - 46600 : Sell any rally to 46500. Tgt 46300
DISCLAIMER
1. I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGSITERED FINANCIAL ANALYST FOR ANY TRADE RELATED QUERY. THE AUTHOR OF THIS ARTICLE HOLDS NO LIABILITY FOR ANY TRADE TAKEN BY THE READER.
Nifty technical view for 13th March 2024Hello everyone👏,
Hit 👊 the like button & boost my post to spread the knowledge📚 😉
US market trading positive.. ✌
Gift nifty also ++
Cruide down.. Doller index flat..
It seems positive for Indian market..
IV also down by 2.57℅
On daily chart
*** Doji candlestick
*** price closed above yesterday closing, momentum bearish to flat
*** price is above on all moving averages
*** since March session market is in tight range of 22550 & 22230 (volatile)
Any breakout with good volume can decide further move.. ₹₹₹
In hourly tf
*** momentum in zig zag position. Huge volatility.
*** invert cup & handle seen
*** Bollinger bands upper level (resistance) 22565
Middle level 22410 & lower band level (support) 22229
*** closing indecisive candlestick
For intraday
*** bullish diversion, momentum inclined
*** for upside :- 22375 ; 22412 ; 22450 ; 22520 & Ath
*** for downside :- 22290 ; 22250 ; 22212 ; 22113 ; 22080 (major support)
All levels and information provided is only for educational purposes. No buy / sell recommendation🙏 DYOA & make decisions.
Thank you🙏
Trading Hours Extension Concerns for Retail Traders & Investors.I am writing to express my opposition to the proposed extension of trading hours for retail traders. While I understand the potential benefits that this change might bring, I believe that it could also lead to several negative consequences that should be carefully considered.
We believe this is not a favorable decision for retail traders, particularly positional traders, as they must monitor their positions until 11:30 PM.
Mental Health Concerns : Retail traders may already struggle with the stress and pressure of trading. Extending trading hours could exacerbate these issues, leading to burnout, anxiety, and other mental health concerns.
Reduced Quality of Life : For retail traders who are full-time traders, extending trading hours could significantly impact their work-life balance and personal relationships. This may lead to decreased overall well-being and happiness.
The success rate for day traders is estimated to be around 10%, and increasing trading hours may not necessarily improve this statistic.
In the long term, the idea of extended market hours may not help in increasing market volume but could potentially lead to a decrease.
The real factors affecting trading volume are not related to trading hours, such as the example of GIFT NIFTY trading success due to the absence of STT in the GIFT NIFTY as opposed to Indian markets
There are more negative points than positive ones when considering the implementation of extended market hours.
In conclusion, while the proposed extension of trading hours may seem appealing at first glance, it is crucial to consider the potential drawbacks and negative consequences for retail traders.
I urge you to reconsider this decision and prioritize the well-being and fairness for all market participants.
I encourage all traders and investors to file a complaint email regarding this to SEBI and NSE . sebi@sebi.gov.in
Nifty today buy on dip till 21670 not break Gift nifty chart up On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Nifty to stay in Red 1. 📈 Market Update (Jan 29):
- Sensex & Nifty set for positive open.
- GIFT Nifty signals a gain of 79.50 points.
2. 📉 Market Sentiments:
- Bearish trend with lower highs, lower lows.
- Weekly charts show a long bearish candlestick.
3. 💹 Nifty 50 Levels:
- Support at 21,100 & 21,000.
- Resistance at 21,400 & 21,500.
4. 📉 Recent Performance (Jan 25):
- Sensex down 360 points.
- Nifty at 21,353, weekly decline of 1%.
5. 💼 Earnings Focus (Jan 29):
- ITC, Bajaj Finance, NTPC, GAIL, etc.
6. 📊 Stocks in Focus:
- Adani Power: 300-fold jump in profit.
- SBI Cards: 7.8% YoY profit growth.
- Tata Technologies: 14.7% YoY profit growth.
- Vedanta: 18.3% YoY profit decline.
- SJVN: Secures 100 MW solar project.
BANKNIFTY Pre-Market Analysis Nov 17, 2023Bank Nifty going red?
On November 16, the Bank Nifty opened flat and has underperformed and closed lower by 40 points to 44,162. The index has reached the daily upper Bollinger band 44,400 and witnessed some selling pressure at the end.
Technicals :
We have seen a bullish pennant forming in Bank Nifty followed by a Double Top Pattern. The surprising element was the breakout happened prematurely and quick in a few minutes. The weekly chart of Bank Nifty is still bullish and I believe it has the capacity to hit a new ATH or at least 45000, before the wedge breakdown.
Crucial Support level: 44,100 – 43,900
Market Cues:
RBI released a bunch of News which are good and bad for banking sector which is expected to crate a mixed sentiments. The US markets and Gift Nifty is trading in red which further pushes the possibility of a red Friday.
Unlike Nifty, which has a PCR of over 1, Bank Nifty has a PCR of 0.81, indicating that traders are still bullish on the index.
Disclaimer: This is just my pre-market analysis. You are only responsible for your trades.
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Bank Nifty Intraday levels 16th Nov 2023Good Morning Everyone
After opening on gap up, bank nifty wiped our around 200 points gain from day's high and closed higher by 310 points at 44202, with above average volume. Well index has formed bearish candlestick pattern n daily chart pattern because the closing was lower than the opening levels.
Market is on buying on dips. So in case you see any dip try to take in down and sale on high. World market is showing mix cues, Gift nifty is ready to give minor gap up opening.
Important levels for Banknifty:-
Intraday support zone 44000
Intraday resistance zone 44300
Important support zone 43800
Important resistance zone 45000
Buy above 44261, if levels sustains at least for 30 Mints
Targets we can see in upside 44381/44484
Keep stop loss at 44155
Sale below 44155, if levels sustains at least for 30 mints.
Targets we can see in downside 44049/43899
Keep stop loss at 44261
Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou
Sensex Expiry special Analysis || Hero Zero Trading DayGood Morning Everyone,
Guy's we have seen consolidation in entire day, Earlier i was thinking Nifty will break above 19450 levels and sustains, but nifty did not worked accordingly, and Sensex also closed 140 points down. If i talk about today's Global market view, then seems pressure in market, all global market is showing mix to negative cues. Our Gift Nifty is also ready to open on Gap Down. Let's see we will work according to levels. Today is sensex expiry day of sensex.
Important Levels for Sensex:-
Intraday Support zone 64400
Intraday Resistance zone 65000
Buy above 64994, if levels sustains at least for 30 Mints.
Targets we can see in upside 65126/65311
Keep stop loss at 64730
Sale below 64730, if levels sustains at least for 30 Mints.
Targets we can see in downside 64552/64334
Keep stop loss at 64994
Note:- Hero Zero Trade will be in 2nd half somewhere 1:15pm. So, we will update in afternoon according to price action, so stick with us and follow us to get notity at right time. Till then enjoy but don't overtrade and Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
Bank Nifty Intraday Analysis || Expiry Special Hero Zero TradeGood Morning Everyone,
Guy's Banknifty has given huge momentum in last trading session, it has given good closing above 43700, and formed a bullish candlestick pattern with a long lower shadow on the daily timeframe. Banknifty is clearly saying you can buy on dips to me. There was a hurdle of 43700, which has got cleared in yesterday session. Now 44000 will be next hurdle for BankNifty. If i talk about today's Global Market, then it is showing mix to positive sentiment, Gift Nifty also indicating gap up opening, I think in case we see any profit booking in index and we get banknifty around 43636-43550, Then we should think to go long as Market itself saying buy me on dips. At least for today we can try.. MACD has also given positive crossover in yesterday session. let' s see how market is going to behave..We will act according to the levels.
Important levels for Banknifty:-
Intraday support zone 43500-43600
Intraday Resistance zone 43900-44000
Important Support Zone 43300
Important Resistance Zone 44500
Buy above 43892, if levels sustains at least for 30 Mints.
Target we can see in upside 44028/44146
Stop loss will be 43700
Sale below 43634, if levels sustains at least for 30 Mints.
Targets will be in downside 43497/43385
Keep stop loss at 43700
Note:- Hero Zero Trade will be in 2nd half somewhere 1:15pm. So, we will update in afternoon according to price action, so stick with us and follow us to get notity at right time. Till then enjoy but don't overtrade and Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou.
Bank nifty for 3rd November 2023 Bank nifty have maid bearish flag pattern on 1 hour time flame and gift nifty is positive so we can plan for trade tomorrow if market open gap up so from up trend line we can can plan for short from 43650 to 43700 we can plan for short quick movement but wait for bearish candle and for upside move if market open in range of 42800 to 43100 you can plan for buy above 43100 break out and retest and for bearish trade you can plan for short trade below 42800 break down retest
Bank nifty for 3rd November Bank nifty have maid bearish flag pattern on 1 hour time flame and gift nifty is positive so we can plan for trade tomorrow if market open gap up so from up trend line we can can plan for short from 43650 to 43700 we can plan for short quick movement but wait for bearish candle and for upside move if market open in range of 42800 to 43100 you can plan for buy above 43100 break out and retest and for bearish trade you can plan for short trade below 42800 break down retest
Nifty outlook 23rd Oct 2023Closing Range - 19512/19735. Extended range - 19429/19818.
Bears likely to drive market down or reasons listed below -
1. Nifty closed uder 50 DMA, which will act as a resisatance now
2. Gravestone doji candle pattern indicates further down move. We should wait for a confirmation candle though in the next session before taking major directional decisions.
3. Lower high lower low formed by Bank Nifty
We are likely to see 19430 soon on the downside, while 19780 looks difficult to break on the upside.
That said, Gift Nifty has given a green Long Legged Doji signalling a possible trend reversal.
P.S. - 0.5%-1% return on capital can be considered good in intraday. Trade with strict SL within the ranges mentioned above.
PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 010 OCT 202310 Oct 2023
WORLD MARKETS
1. US and Europe is looking neutral to bullish. Asia has closed with a neutral to negative note.
INDIA VIX AND GIFT NIFTY
1. India VIX has closed 10 % up above 11.4 Which is increase in the volatility and fear.
INDEX HEAVY WEIGHTS
1. HDFC Bank has closed with a 1% cut and looking bearish. 1526 is a strong resistance. There is sp at 1510. Any move above 1535 is bullish. Move below 1510 will be bearish.
2. ICICI bank is bearish on a daily chart. 934 is a strong support. 940 is a strong resistance.
3. Relaince has closed below 2300. We have to see whether it will defend 2300. Next sp is at 2288 which is 200 SMA. Probably it make take sp at 2288.
ANALYSIS
1. Wolrd markets are not spooked by the new isreal conflict. But any intensification of conflict may turn market bearish.
2. Crude oil has closed just 3.26 % UP @87 dollar a barrel well below the 100 dollar mark.
3. All three Index heavy weights are looking bearish. However Nifty is supported by IT heavy weight TCS.
TRADING PLAN
1.NIFTY OPEN BETWEEN 19543 AND 19483 : Any rally to 19550 is a sell.
2. NIFTY OPEN ABOVE 19540 : Wait for a break out above 19580 level decisively.
3.NIFTY OPEN BELOW 19480 : Sell any rally to 19500 and break below 19480 decisively.
4. BANK NIFTY OPEN BETWEEN 43973 AND 43800 : Sell Any rally to 44010.
5. BANK NIFTY OPEN ABOVE 44973 : Wait for a break out above 44110. However any weakness below 43970 is a sell.
6. BANK NIFTY OPEN BELOW 43800. Sell Any rally to 43950.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FIANANCIAL ADVISOR FOR ANY TRADE RELATED QUERY. THE AUTHOR IS NOT LIABLE FOR ANY TRADE TAKEN BY THE READER.