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PostMortem on BankNifty Today & Analysis of 27 Mar 2023There are few important aspects to the price action today. We stuck to a small range today - it would have been good for intraday straddlers & short iron-fly, iron-condor strategy deployers. So we opened inline at 39484, many would argue that it was a gap up. But i wouldnt say that because of the price action from the previous session. As soon as we hit the last session's swing low, we got a bounce of 270 pts, but this did not sustain and we fell back to the same low point. We had a second bounce of 268pts between 11.30 to 12.45 & as expected this did not sustain as well. and fell back to the low point of the day again. Now between 13.25 to 14.35 we had the 3rd bounce of 383 pts & again we could not breakthrough the 39742 level. And we fell back to the low point of the day. The important aspect in today's price action is we had 4 tests of 39300 levels today (see cyan markers from chart). And none of them gave away. I am not saying that its a bullish sign, but its an area of importance. Either the volume traded today might be too low to create any volatility to break this zone or we may need some external triggers to break down. --- On NSE:BANKNIFTY minds i made 3 posts today "$BANKNIFTY we need a break of support 38690 for strong bearish momentum" at 10.14 "$BANKNIFTY option prices are not providing clear direction" at 13.39 "$BANKNIFTY needs to take out 39742 to go bullish" at 14.39 --- 15mts TF is looking at a sideways movement, i was hoping was a retest of 38690 levels today - but that did not happen. Instead the 39300 level came to rescue. I am seriously considering to mark a new SR zone at 39310. to view all 10 charts in today's discussion visit viswaram. com --- 1hr TF is still bearish to me, agree its taking some time for the new leg to form. If there are no fundamental news triggers i am expecting the 38690 levels to be taken out this week itself. Keeping my fingers crossed
NSE:BANKNIFTY
by viswaram
PostMortem on BankNifty Today & Analysis of 17 FEB 2023So today's price action confirms the move that we had yesterday was not fake. How many traders & investors would have been trapped on the long side when the 41629 resistance broke out? The prevailing trend was bearish, but when an important resistance gave away, it would have prompted lot of buyers into action. And once they deployed their funds we got the reversal. The dip could even be short term, may be it will negate in the coming week itself - but imagine the amount of money you would have lost over the last 2 days? Today's move in NSE:BANKNIFTY was nothing dramatic, agree that many would call it unexpected. But for analysts who have been following the series of events after the meltdown in Adani stocks - this should have been a not so difficult picking. Open was gap down at 41514 and the first 2 candles were in red - already doing the damage in opening 10mts. This set the trend rolling, we had a single leg of consistent fall of 1.57% ~ 652pts till 13.40.  The selling stopped near the 1st support level of 40868 and we also had a brief pull back of 0.65% ~ 267pts from 13.45 to 15.10.  This pull back ensured that the total fall of NSE:BANKNIFTY was only 1.2% ~ 499pts which is not so bad either. But there are some interesting things that happened The spike in volume of CE options traded, showing intense writing. The volumes spiked just after NSE:BANKNIFTY made the pull back ensuring the option sellers got good premiums too. The drop in options premium on the PE side after 14.50 aiding the view that the dip may not have further deep legs. If today's fall was that dramatic then the PE options should have retained their higher premiums. It can also be true that the premiums could spike on monday or tuesday if we have continuation pattern. And most of you would have seen the % spikes PE premiums hit. --- 15mts TF has negated the small bullish view that it had on 15th. From there we had 1 support break & retest of the 2nd support level. --- 1hr TF may be showing the range widening possibilities in the coming weeks. This could be because the selling came in only when NSE:BANKNIFTY went over the resistance - a common phenomenon associated when sellers are in control.
NSE:BANKNIFTY
by viswaram
Banknifty Possible Trade for Friday Banknifty Support and Resistance For Day Trading 17 feb 2023 Support Zones Frist Support Level For For Long Banknifty - 41645 -41690 Second Support Level For Long Banknifty - 41240 - 41280 Third Support Level For Long Banknifty - 40760 - 40800 Resistance Zones First Resistance Level For Short Banknifty - 41920 -41970 Second Resistance Level For Short Banknifty - 42235 -42275 Third Resistance Level For Short Banknifty - 42675 -42700 Importent Signal for Banknifty Trading from Option Chain Data Analysis Max Pain As per Option Chain Analysis – 41700 PCR ratio as per Option Chain Analysis – 0.76 ( Bullish ) Major Support as Per Banknifty Open Interest Analysis – 40800 Major Resistance as Per Banknifty Open Interest Analysis – 42300 Conclusion For Next Trading Days Bankifty is given Bulish Move Rejected From Budget Day High , If closes above Budget Day High ,then you can go long with Stoploss of budget day High Try To Buy Future Conract or Call Option Near Support Zone and Book Profit At Rsistance Zone Try to Short Banknifty at every Resistaance and Book Profit Near Support Zone Adani Group issue is major concern for market for now . Stock Market Confirm News Edelweiss Mutual Fund raises stake in Yes Bank shares in Jan 2023 Govt cuts windfall tax on crude oil, ATF, export of diesel Indian Railway Finance Corporation (IRFC) stock of Indian Railways fell 2 per cent , It is a Finance Providing Company for Indian Rail .
NSE:BANKNIFTY
by manojshinde27
Education About Bearish Rising WedgeHey there! Lets Learn About bearish rising wedge A bearish rising wedge is a chart pattern that often appears in the stock market and is seen as a bearish signal. It occurs when the price of a stock moves up and down, forming a wedge-like shape that is inclined upwards. The pattern is considered bearish because it signals that the stock's upward momentum is losing steam, and that there may be a price decline in the near future. The pattern is formed when the stock's high and low prices move closer together over time, creating the wedge shape. Investors and traders watch for this pattern as a sign that it may be time to sell their stock, or to short sell the stock, meaning to bet on a price decline. However, it's important to remember that a bearish rising wedge is not a guarantee of a price decline, and it's always wise to consider multiple indicators and factors before making any investment decisions. Here in my example as we can see s and p 500 is forming bearish market structure and forming lower highs and lower lows. In conclusion, a bearish rising wedge is a useful tool for investors and traders to keep an eye on, but it's only one of many factors that should be taken into consideration when making investment decisions like I used another indicator to confirm my analysis. So, keep an eye out for this pattern and stay informed, but always remember to do your own research and make informed decisions. Bye Have a nice day
SP:SPXEducation
by D3ffyDuck
USDINRPlease keep in mind that this is only for futures and positional traders. You can buy USDINR in 3 different buy zones, as mentioned (Buy zone 1, Buy zone 2, Buy zone 3). There is NO-STOPLOSS; simply purchase as much as you can. Don't panic if it reaches Zone 3; instead, buy as much as possible. It is important to note that this view is for the next three months and is not recommended for short-term time frames.  Note 1: Do not trade CALL options based on this view because it is a long-term view and you may lose money buying OTM or ITM due to theta decay in the long run.  Note 2 : Because the USDINR is oversold, strong Bullishness is expected to continue, and only buying is recommended (avoid short selling or buying PUT options) at retracement levels.
Long
by WECLAN
TVS MOTORSAfter the completion of the rounding pattern or bowl pattern from the level of 800 its continuously in the bullish form making higher highs pattern. Now it's showing the exhaustion so we can see some profit booking here either it can move for buying if it crosses the channel right now it just breakdown the major trendline followed by it from the level of 800 once it crossed below 1080 and 1060(majorly) we can see fall and also on the monthly chart time frame we can observe that it can make the inside candle thus making it in your list is gonna be a jackpot. On the way we are having the support of 50 MA which can be a good sign for buyers and sellers if it closed below it can fall easily.
NSE:TVSMOTOR
by SUTHARTRADE
Postmortem on #BankNifty - 10 OCT 2022SPX fell 2.8% & NDQ 3.88% on friday and the handout to us today morning was not that positive. As expected bank nifty opened gap down 38461 below the support level of 38698. The first candle was bearish, closed down & may have indicated that the rest of the day will be negative. But what happened in the next 2 candles were the opposite, a hammer the 2nd candle and a bullish marubozu 3rd. The 3rd candle took out the now resistance indicating the day will not be negative but will trade above the 38698 level. And what happened from 10.10 to 12.50 was magic, for a moment i thought bank nifty is really on drugs. How does it find the strength to rally 700+ points on a negative macro day. Notice the price action between 12.30 to 13.00 below, it was right at the resistance level of 39326. BN did not break this resistance and then reversed course to a nice fall till 14.10. From 14.15 to close, BN regained some strength and closed quite strong according to me. Due to the rally today, the IVs were dropping and i could not really enter into any trade. I was expecting the option premiums to double and the IVs to skyrocket - but that did not happen. The traded volume on options were higher, but the premiums were lower indicating a range bound expiry so far this week. However these dynamics can change if the support or resistance is broken - you know how easy it is for bank nifty to send the options premium to the sky. Rs10 to Rs160 will not take even an hour. 5mts TF - does not show bearishness yet. The current pattern shows consolidation with a bullish bias 1hr TF also does not show the bearishness yet - price consolidation at current levels is what i infer Bank nifty important support and resistance liness1:38698, s2: 37946r1: 39326, r2: 39739 Thanks for reading Viswaram Finance! Subscribe for free to receive new posts and support my work.
NSE:BANKNIFTY
by viswaram
Postmortem on #BankNifty - 06 OCT 2022 - Weekly Expiry Bank nifty opened 39343 right at the resistance line made a long wick 5mts 1st candle. The 2nd candle broke the SR line. At 09.40 after seeing the red candle i assumed BN will trade lower and exited the 39500 iron fly at the cost price. I was not expecting BN to go up and the 4 candles from 09.45 to 10.00 really surprised me. And all the trade that happened till 12.55 was against the trades i had in my mind. The reason i thought BN would not go up was because of the long wick and the immediate break in SR during the first 15 to 20mts. The trades from 13.00 to close was something that really comforted me. Eventhough i did not make big money trading today’s expiry - the closing price action was inline with the opening pattern. Again all these trades would be positional as it was the weekly expiry, to know if the trend is continuing or not we need to watch the trades of tomorrow & monday. For traders who would have taken an intraday straddle or strangle - there is a high possibility that their stop loss would have been hit. If for some reason they forgot to put the SL or simply didnt have one - they would have made money as the opening & close was almost the same. 5mts TF shows no specific direction. If tomorrow also BN stays in this range - then i would prefer to plan for a range bound expiry for 13th. 15mts TF shows a W bottom pattern 1hr TF shows the W pattern with much more clarity. This need not be taken so seriously as BN just came out from a double top M pattern last week. So we would need to wait for further sessions to confirm if its trend continuation or reversal. Bank nifty important support and resistance lines s1:38698, s2: 37946 r1: 39326, r2: 39739 Thanks for reading Viswaram Finance! No recommendations, No predictions !
NSE:BANKNIFTY
by viswaram