150-300 Point move on monday in midcap nifty. enter breakout of previous day high, or break down of previous day low. tgt for upside till 10950 tgt for downside til 10750
Nifty is around the ATH and there is profit booking at the higher levels. The market is spending time near the high and last week too it has test the ATH. Seller are there in the higher levels and closing of the weekly candel is dicey. Higher time frame is showing some RSI bearish divergence and market is forming grave stone doji on the daily...
Cup and handle pattern is a bullish continuation patter.
486500 will be the 1st target ATH and 2nd target 49500, 49900. Target for rounding bottom 50200.
#Banknifty:8th April Step1: Swing high 48769-R1. Step2: 48449 S2 is a level to go for aggressive longs. Step3: Day low. Enter fresh long 48269-48171. S2 Index can hold on to Friday closing level.
24704 -- 10th June 2024 Disclaimer: It's a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises.
BankNifty Analysis - Stance Bullish ⬆️ The line we drew yesterday was more or less right. Banknifty respected the trend line and moved ahead when Nifty was trading flat. RBI MPC outcome expectations were not the reason we had the fall yesterday. I can say that with a high level of certainty because today we went past yesterday’s high. And as soon as we cut through...
Nifty Analysis - Stance Bullish ⬆️ Recap from yesterday: “Now take a look at the 63mts chart, and see where the reversal came from ~ 22295 levels. That is the main reason why we said a stance change is required only if 22295 is broken and since we did not do that, we continue to remain bullish.” Nifty had no momentum today, but BankNifty had lots of it. Yesterday...
Nifty opens gap down, bulls were trying to sustain into the market and made days high that is 22513. Nifty has form green body small candle with long lower shadow which indicates participants were buying from lower end. Nifty traded flat throughout the session Nifty has given closing near yesterday’s closing. Nifty is able to hold above 22500 level, to start...
NSE:NIFTY_MID_SELECT Maximum Call writing buildup of 12.22 Lakh is at 10800 strike followed by 9.64 Lakh at 10900 Strike and Put writing of 14.01 Lakh at 10700 Strike followed by 13.30 Lakh at 10800 Strike. Index is closed above support level of 10800. As the more put writing is building up at 10800 strike the support level is shifting up with big support near...
NSE:CNXFINANCE Maximum Call writing is at 21400 strike with 5.76 Lakh followed by 5.23 Lakh Call at 21500 Strike. Maximum Put writing is at 9.59 Lakh at 21000 strike followed by 8.56 Put writing at 21100 Strike. As the Option writing is widening up, the trade range is also widening between 21000 - 21100 support and resistance near 21600 - 21630 level. If...
NSE:BANKNIFTY Highest Combined Call and Put writing at 48000 strike with 19.88 Lakh Call and 18.88 Lakh Put writing. 2nd highest Call writing of 12.79 Lakh at 48500 strike and Put writing of 16.57 Lakh at 47500 strike. The Support level is shifting up. If Index crosses 48250 and sustain then it may go near near All Time High (ATH) resistance near 48600 level....
NSE:NIFTY Highest Call and Put writing is at 22500 strike with 35.99 Lakh and 35.36 Lakh Put. 2nd highest Call writing of 30.43 Lakh at 22600 Strike and Put writing of 29.31 Lakh at 22300 strike. As Index has touched nea All Time High (ATH), Index may face resistance near 22625 level and if it crosse the resistance sustain with unwinding of Call at 10500 and...
Banknifty hit new ATH today Expect BNF to touch 51000++ soon ,.probably this month itself. if missed, may month will hit Take your positions accordingly
I see a Cup & Handle breakout in Bank Nifty. A benign MPC statement and status quo on the rate front has given a fresh fillip to the Bulls. With Nifty and now Bank Nifty both near ATHs, its seems like its going to be RISK ON in the markets and 23000 on Nifty and 50000 on Bank Nifty is but a formality.
Bank Nifty's trend broke and moved significantly in intraday trading today, approaching its all-time high. We will have to wait and see on Monday whether it will break the all-time high or face resistance. The stock market is designed to transfer money from the active to the patient." - Al exander Elder
Nifty 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...