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PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 10 OCT 202410 Oct 2024 WORLD MARKETS 1. US is consolidating with a positive bias. Asia and Europe is mixed. INDIA VIX AND GIFT NIFTY 1. India VIX is still above 14 indicating more bearishness. 2. GIFT Nifty is indicating 130 point uptick at 25100. This amount to 51250 for bank nifty. INDEX HEAVY WEIGHTS 1. HDFC Bank has closed below 1640 indicating reversal of trend to bearish. It has support at 1620 level. 2. ICICI Bank is still holding on to 1220 level. 3. Reliance has turned bearish and has closed below 1250. ANALYSIS 1. RBI commentary and election result had momentary impact and the indices have closed in red loosing all the gains of the morning. 2.Call writers of Bank Nifty had fantastic profit . Nifty was however not that responsive. TRADING PLAN 1. NIFTY OPEN BETWEEN 25056 -24900: Sell any rally to 25100 and break below 24980. 2. NIFTY OPEN ABOVE 25056: Wait for a consolidation and break above 25250 decisively. However any dip to 25000 can be sold (Call Option 25000) 3.NIFTY OPEN BELOW 24900: Sell any rally to 25000. 4. BANK NIFTY OPEN BETWEEN 50800 - 51228: NO TRADE. 5. BANK NIFTY OPEN ABOVE 51230: Wait for a consolidation and break below 51000 decisively. However any consolidation result in a break above 51500, then it is a buy. 6. BANK NIFTY OPEN BELOW 50800: Selling rally 51000. 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.
NSE:BANKNIFTY
by sam20051968
BankNifty Intraday Support & Resistance Levels for 10.10.2024On Wednesday, BankNifty opened gap up, briefly crossed the Daily Demand Zone (above 51,420.15) and touched a high of 51,707.15. However, the gains couldn't hold, and it dropped sharply to 50,903.75, closing at 51,007, losing 14 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. The demand and supply zones remain unchanged from the previous post. Demand/Support Zones: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price inside the zone) Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level) Supply/Resistance Zones: Near supply/resistance zone (15m): 52,254.70 - 52,358.35 Near supply/resistance zone (Daily): 52,817.80 - 53,235.25 Far supply/resistance zone (75m): 53,763.20 - 53,945.10 Far supply/resistance zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPal
Nifty Intraday Support & Resistance Levels for 10.10.2024On Wednesday, Nifty opened gap up, briefly crossed the Daily Demand zone (above 25,130.50) and reached a high of 25,234.05. However, it couldn't sustain the momentum and dropped to a new day low of 24,947.70, finally closing at 24,981.95, losing 31 points from the previous close. Keep a close watch on the key support level at 61.8% FIBO (24,804.25). The Weekly Trend (50 SMA) is still positive, while the Daily Trend (50 SMA) remains sideways. Demand/Support Zones: Near Demand/Support zone (Daily): 24,753.15 - 25,130.50 (current price inside the zone) Far Demand/Support zone (Daily): 24,522.95 - 24,636.35 Far Demand/Support zone (Daily): 24,099.70 - 24,196.50 Far Demand/Support zone (Weekly): 23,893.70 - 24,419.75 Supply/Resistance Zones: Near Supply/Resistance Zone (15m): 25,420 - 25,485.05 Near Supply/Resistance Zone (Daily): 25,739.20 - 25,907.60 Far Supply/Resistance Zone (Daily): 26,151.40 - 26,277.35
NSE:NIFTY
by PriteshPal
10 Oct 2024 - Bank Nifty Predictions1. Index Chart Details Index: Nifty Bank Index Date: October 9, 2024 Time Frames: Daily (1D) 5-Minute (5M) Weekly (1W) Monthly (1M) 2. Support and Resistance Levels for Next Trading Day Support Levels: 1st Support: 50,900 2nd Support: 50,500 Resistance Levels: 1st Resistance: 51,200 2nd Resistance: 51,700 3. Market Scenario for Next Trading Day Expected Opening Slight Gap Down 9:15 AM Market Trend Bearish to Range-bound Morning Midday Adjustment Possible recovery towards flat 12:00 PM Closing Trend Range-bound with slight bullish bias 3:30 PM 4. Options Strategies for Next Trading Day Recommended Strategies: Bull Put Spread: Sell 51,000 Put, Buy 50,900 Put (if market shows signs of recovery). Bear Call Spread: Sell 51,500 Call, Buy 51,600 Call (if market opens lower and shows bearish sentiment). 5a. Calendar Spread Strategy Strikes for Calendar Spread: Daily: Sell 51,000 Call, Buy 51,100 Call Weekly: Sell 51,200 Call, Buy 51,300 Call Monthly: Sell 51,500 Call, Buy 51,600 Call 5b. Daily, Weekly, and Monthly Trends Time Frame Trend Direction Key Levels Daily Bearish 51,200 (Resistance), 50,900 (Support) Weekly Range-bound 51,700 (Resistance), 50,500 (Support) Monthly Bullish 54,467 (Resistance), 45,661 (Support) 6. Trading Recommendations for ATM, ITM, OTM ATM Trade Morning session ITM Don't Trade All day OTM Trade cautiously Afternoon session Better Not to Trade If market shows strong bearish trend Summary The market is expected to open slightly lower, with a bearish sentiment initially. However, there may be a recovery towards midday, leading to a range-bound scenario by the end of the day. The suggested options strategies focus on both bullish and bearish scenarios, depending on market movements. Disclaimer: Do Manage your Risk and Money management, Do not Forget to PUT STOP LOSS.
NSE:BANKNIFTY
by JayeshBoradia
Nifty weekly expiry analysis for 10/10/2024Market has given a nice movement and for two days it remained in a range but is volatile. There are chance of market either follow the bearish trend or form a 'W' pattern. Nifty has closed around crucial levels from where it can either reverse the trend or continue falling. Major support level :- 24760, 24600 Resistance level :- 25210, 25480 The weekly expiry can show a trending move after a break out or break down. Wait for the price action near the levels before entering the market.
NSE:NIFTY
by Mambotrade
Nifty Intraday Analysis for 09th October 2024NSE:NIFTY Index closed near 25015 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 25500 Strike – 74.85 Lakh 25200 Strike – 57.99 Lakh 25000 Strike – 51.68 Lakh Put Writing 25000 Strike – 44.03 Lakh 24500 Strike – 43.71 Lakh 24800 Strike – 31.21 Lakh Index has resistance near 25250 – 25300 range and if index crosses and sustains above this level then may reach near 25500 - 25600 range. Index has immediate support near 24800 – 24700 range and if this support is broken then index may tank near 24550 – 24500 range.
NSE:NIFTY
by RKMAURYA
Banknifty Intraday Analysis for 09th October 2024NSE:BANKNIFTY Index closed near 51020 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 52000 Strike – 31.59 Lakh 51500 Strike – 22.20 Lakh 51000 Strike – 21.50 Lakh Put Writing 50000 Strike – 25.60 Lakh 51000 Strike – 20.82 Lakh 50500 Strike – 17.98 Lakh Index has resistance near 51700 – 51800 range and if index crosses and sustains above this level then may reach near 52400 – 52500 range. Index has immediate support near 50500 – 50400 range and if this support is broken then index may tank near 49900 - 49800 range.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 09th October 2024NSE:CNXFINANCE Index closed near 23455 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 23500 Strike – 26.88 Lakh 24000 Strike – 18.86 Lakh 23700 Strike – 13.57 Lakh Put Writing 23500 Strike – 1.03 Lakh 23000 Strike – 0.80 Lakh 23300 Strike – 0.72 Lakh Index has resistance near 23650 - 23750 range and if index crosses and sustains above this level then may reach near 24000 - 24100 range. Index has immediate support near 23250 – 23100 range and if this support is broken then index may tank near 22850 – 22800 range.
NSE:CNXFINANCE
by RKMAURYA
Midnifty Intraday Analysis for 09th October 2024NSE:NIFTY_MID_SELECT Index closed near 12875 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 13000 Strike – 6.90 Lakh 12900 Strike – 4.68 Lakh 12800 Strike – 4.68 Lakh Put Writing 12800 Strike – 8.66 Lakh 12700 Strike – 5.25 Lakh 12600 Strike – 5.10 Lakh Index has immediate resistance near 13000 - 13100 range and if index crosses and sustains above this level then may reach 13250 – 13350 range. Index has immediate support near 12750 – 12650 range and if this support is broken then index may tank near 12550 – 12500 range.
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by RKMAURYA
Nifty levels - Oct 10, 2024Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
BankNifty levels - Oct 10, 2024Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
Banknifty yesterday buy given 51230 Target hit 800 points upDisclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:BANKNIFTYLong
by JaiPrakashShuklaHarmonicTrader
Nifty as said yesterday buy on dip 250 points up now hold buy Nifty 25450-25550 possible in few days if RBI gives anything positive Disclaimer - This information is only for educational purposes, this is not for any buy or sell recommendations . On Our Harmonic pattern indicator based trade setup take trade as explained below :- ENTRY - When price breaks 30% retracement Which is D points then take Entry on Buy or Sell Trade SL - SL is (-3%) Which is mentioned in Chart . our SL is just above or below of Recent high or Low . TARGET - Target 1- (T1 : 61.8 %) Target 2- (T2 : 88.6 %) Target 3-  (T3 : 127.2 %) Target 4-  (T4 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:NIFTYLong
by JaiPrakashShuklaHarmonicTrader