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BANKNIFTY trade ideas

BANKNIFTY View Bounce and Break !Hello mates sharing a view on Banknifty on Weekly time frame, So as we can see that after a good correction form all time highs now price reached to weekly support level. NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis. NOTE : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell. I will try my best to update this publication for a bounce or a break too stay tuned. Hope you like my idea, Thanks in advance.
NSE:BANKNIFTY
by MISSION_TRADING
2
Banknifty Intraday Analysis for 19th November 2024NSE:BANKNIFTY Index closed near 50365 level and Maximum Call and Put Writing near CMP as below in current Monthly contract: Call Writing 51000 Strike – 16.62 Lakh 51500 Strike – 14.43 Lakh 50500 Strike – 10.92 Lakh Put Writing 49500 Strike – 19.33 Lakh 50000 Strike – 17.10 Lakh 49000 Strike – 12.58 Lakh Index has immediate support near 49800 - 49700 range and if this support is broken then index may tank near 49500 - 49400 range. Index has resistance near 50800 – 50900 range and if index crosses and sustains above this level then may reach near 51300 – 51400 range.
NSE:BANKNIFTY
by RKMAURYA
2
BANKNIFTY Corrected 4000 points Weekly chart ANALYSISHello Everyone, as posted charts on 29th september, Banknifty Rejection Candle from Channel Resistance line, RSI negative Divergence, Price is more than 3000/4000 point away from EMA 20& 50____After every trending move Price is reverse to its EMA line___Positional Sideways to small correction can expected. now its corrected 4000 points and near to 50EMA but till looking weak if going to test 100EMA then 3 things going to happened 1st 100EMA test second 61% retracement done and breakout trendline retest possibilities as ahead of elections and USDINR is trading at its lowest of 84.40 indicate more volatality in near future. 49300, 48650,47500 is possible and important levels to watch
NSE:BANKNIFTYShort
by sagarmali101
1
Banknifty Intraday Analysis for 18th November 2024NSE:BANKNIFTY Index closed near 50180 level and Maximum Call and Put Writing near CMP as below in current Monthly contract: Call Writing 51000 Strike – 14.94 Lakh 51500 Strike – 14.10 Lakh 50500 Strike – 9.89 Lakh Put Writing 49500 Strike – 18.29 Lakh 50000 Strike – 15.03 Lakh 49000 Strike – 10.96 Lakh Index has immediate support near 49600 - 49500 range and if this support is broken then index may tank near 49000 - 48900 range. Index has resistance near 50650 – 50800 range and if index crosses and sustains above this level then may reach near 51100 – 51300 range.
NSE:BANKNIFTY
by RKMAURYA
How to draw support and resistance level on chart1. Identify the Trend Support: This is the price level where a downtrend can pause or reverse. It occurs when buyers are expected to step in and push the price upward. Resistance: This is the price level where an uptrend can pause or reverse. It occurs when sellers are expected to step in and push the price downward. Key tip: The more times the price touches a particular level and reverses, the stronger the support or resistance. 2. Locate Significant Highs and Lows Support: Look for the lowest points where the price has previously bounced. These are the bottoms where price failed to drop further. Resistance: Look for the highest points where the price has previously been unable to break through. These are the tops where price failed to rise further. Key tip: You want to find significant turning points — areas where price made a sharp reversal. 3. Use Horizontal Lines to Mark Levels Support: Draw a horizontal line along the most recent low or lows where price reversed or consolidated. This will mark the support zone. Resistance: Draw a horizontal line along the most recent high or highs where price reversed or faced rejection. This will mark the resistance zone. Key tip: You can use multiple points to validate a support or resistance level. If a price has touched and reversed at the same level multiple times, it becomes more reliable. 4. Adjust for Areas (Zones, Not Just Exact Price Points) Often, support and resistance are not exact price points but zones where price action tends to cluster. For example, if a stock often bounces between $100 and $105, you might draw a support level around $100-105 rather than at one specific price. Key tip: Consider the range of price movement around these levels. Drawing the lines as zones can provide more flexibility for trading. 5. Look for Volume Confirmation High trading volume near a support or resistance level adds strength to the level. A breakout or breakdown accompanied by high volume suggests that the level is more significant. Key tip: Pay attention to volume spikes when the price approaches key support or resistance levels. This may indicate that a breakout or breakdown is imminent. 6. Dynamic Support and Resistance These levels are not always static. Trends can create dynamic support (in uptrends) or dynamic resistance (in downtrends), where support or resistance is aligned with trendlines or moving averages. Key tip: In trending markets, you can use tools like trendlines or moving averages (like the 50-day or 200-day moving average) to spot dynamic support and resistance. 7. Check for Price Patterns Price patterns such as triangles, channels, or head-and-shoulders can also help you identify key support and resistance zones.
NSE:BANKNIFTYEducation
by MISSION_TRADING
Bank Nifty Corrective Patterns: Triangle, Flat & W-X-Y-X-ZSummarized Points to Watch: 52,493 Level (Wave ((C))): If Wave ((E)) surpasses this level, the triangle pattern may fail. Lower Trendline Support: A breakdown below this trendline before completing Wave ((E)) could invalidate the pattern. Wave Length Symmetry: An imbalanced Wave ((E)) suggests potential pattern weakness. Volume Behavior: A sudden spike during Wave ((E)) may indicate possible failure. Internal Corrective Structure: Wave ((E)) should consist of three sub-waves to maintain pattern integrity. NOTE: Symmetry in sub-waves is crucial for a triangle pattern, meaning the waves should have balanced length and duration. If the wave ((E)) in your chart becomes too short or too long, it creates asymmetry that may question the pattern’s validity. If wave ((E)) ends abruptly without touching the expected trendline, it could also signal potential pattern failure. Flat Correction Pattern ( 3-3-5) in Bank Nifty This pattern comprises three waves: Wave A (3 sub-waves), Wave B (3 sub-waves), and Wave C (5 sub-waves), indicating a temporary trend reversal. W-X-Y-X-Z Complex Correction in Bank Nifty: This complex pattern involves five waves (W, X, Y, X, Z), representing a multi-phase consolidation, with Wave Z potentially signaling the end of the correction and a possible trend continuation. --------------------------------------------------------------------------------- Approaches to Catching Wave (C) Using the Patterns: Triangle Pattern: After the triangle completes, the impulsive Wave (C) generally initiates. You can look for an entry near the end of Wave (E) and monitor for confirmation with a breakout and increased volume. Flat Correction (3-3-5): In a flat correction, after Wave (B), which is a 3-wave structure, Wave (C) follows with 5 impulsive waves. Identifying the end of Wave (B) gives you the opportunity to capture the significant move in Wave (C). W-X-Y-X-Z Complex Correction: In this complex corrective pattern, the impulsive Wave (C) typically starts after the end of Wave (Z). Due to the complex structure, patience is essential, and confirmation usually comes only after Wave (Z) completes.
NSE:BANKNIFTY
by Trade-Technique
6
BankNifty Support&Resistance for 19th November TuesdayImmediate support is at 50300, and immediate resistance is at 50450. If the price breaks above 50450, look for long positions with targets at 50600, 50800, and potentially up to the 51K area. On the flip side, if the price breaks below 50300, consider shorting with targets at 50100, 50000, and 49900 below. Avoid trading in the zone between 50300 and 50450, as this is a neutral area. Overall, the market is still in a bearish structure, with lower lows and higher lows. Be cautious around these levels, and stick to the plan: bullish above 50450 and bearish below 50300. Stay disciplined, and manage your risk."
NSE:BANKNIFTY
by rakeshreddym
#Banknifty directions and levels for November 19th.Bank Nifty Current View: The structure is similar to the Nifty sentiment. The current view suggests that if the market declines initially, then 50,045 will act as support. If the market breaks this level, the correction will continue to a minimum of 49,745. On the other hand, if it doesn’t break this level (50,045), then it could consolidate between the level of 50,045 and the 38% upside. Alternate View: The alternate variation suggests that if the market sustains the gap-up, then the 38% level will act as resistance. If the market consolidates or breaks this level, then the pullback will continue to the next resistance Fibonacci level of 50%. Conversely, if it doesn’t break or rejects this level, we can expect consolidation leading to a correction.
NSE:BANKNIFTY
by Manickamtraders
RSI IndicatorThe best RSI settings are typically a 14-period timeframe with 70 as the overbought level and 30 as the oversold level. These settings can be adjusted based on specific trading strategies. Low RSI levels, below 30, generate buy signals and indicate an oversold or undervalued condition. High RSI levels, above 70, generate sell signals and suggest that a security is overbought or overvalued. A reading of 50 denotes a neutral level or balance between bullish and bearish positions.
NSE:BANKNIFTY
by SkyTradingZone
Banknifty Bearish Harmonic Pattern _Both side moves possibleHello everyone, yesterday there was pullback in banknifty around 800 points but pullback fail as volume not supported and the multiple resistance at 51000-51200 with bearish harmonic pattern banknifty fall again around 700 points from high. bearish trend can continue if banknifty breaks below 50200 another 1000 points fall can possible breaking above 51200 only upside posssible. and Non Directional range is 50000 to 51000.
NSE:BANKNIFTYShort
by finvestalgo
BEARISH FLAG IN BANK NIFTY - TIME FOR A SHORT TRADE ?Symbol - BANKNIFTY CMP 51350 BankNifty has turned its trend from bullish to bearish & sideways making lows - lows on daily time frame & It was trading in a bearish channel. We can see a Bearish Flag pattern getting formed in BankNifty. Such patterns on larger time frame don't usually fail. BankNifty is currently trading near break down trendline of this pattern. Breakdown & sustaining below this trendline zone 51150 - 51000 will get this pattern activated & we can see big target towards downside. Target on downside can be 47400 P.S. : My short position is already active from 51800 Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:BANKNIFTYShort
by akshit_official
3
BANKNIFTY: INSTITUTIONAL LEVELS FOR 19/11/2024Overview This trading system combines simplicity with powerful insights for accurate entries and exits. It is structured for active traders using the 5-minute timeframe who want to make clear, confident trading decisions in fast-moving markets. Key Strategy Guidelines Retest Entries : Aim to enter trades on retests rather than breakouts, offering better positioning. Multiple Confirmations : Use more than one confirmation to validate each trade, helping avoid impulsive decisions. ATM Options Focus : Stick to at-the-money (ATM) options or above for optimal liquidity and manageable risk. System Explanation This setup leverages volume, historical price action, and price ranges to pinpoint high-probability entry and exit points. This methodology is designed to reduce guesswork, allowing traders to manage trades with a consistent approach. How It Works: Entry/Exit Signals Blue Line : Signals potential long entry. Red Line : Indicates potential short entry. Tip : Align these signals with additional confirmations from your trading strategy for optimal performance. Stop Loss and Take Profit Levels Stop Loss: Long Trades : Set your stop loss at the nearest red line below the entry point, or adjust based on whether the 5-minute candle crosses the red line. Short Trades : Use the blue line above as the stop loss. Take Profit: Long Entries :Target the next red line above or exit if other indicators suggest a prudent exit. Short Entries :Target the next blue line below following similar guidelines. Timeframe Recommendation This system is specifically optimized for the 5-minute timeframe, making it suitable for those trading shorter intervals with precision. Risk Disclaimer Trading involves high risk, and rapid price changes can lead to unexpected losses. Only trade with capital you can afford to lose, and carefully assess your financial situation and risk tolerance. Join the Community Discussion Engage with other traders to discuss strategies, share insights, and enhance your understanding of the markets. Let’s grow together as a community of traders. Original Content This trading system is the product of my own expertise and rigorous testing. It’s a unique approach developed through real market experience to offer a clear edge in trading.
NSE:BANKNIFTY
by tony_fx_sm
#Banknifty directions and levels for November 21stBank Nifty Current View: The structure is similar to the Nifty sentiment. If the market declines initially, we can expect a minimum of 78% (OIS) if it breaks the level of 50,316. Notably, if it reaches this level with gradual movement (MDZ), we can expect a minimum bounce back of 23% to 38%. On the other hand, if it reaches this level with a solid structure or consolidates around here, then the correction is likely to continue. This is our first variation. Alternate View: The alternate variation suggests that if the market pulls back initially, we can expect a range-bound market between the previous session's range. This means if it breaks 50,648, it will reach 50,867. After that, if it gets rejected there, it will close where it opened.
NSE:BANKNIFTY
by Manickamtraders
Bank Nifty possible moves for next 1 monthBank Nifty has been moving in a channel since Covid time, it has formed a rising wedge pattern where the upper band starts at Covid time swing high and lower band starts at Covid time low. I can not switch to monthly timeframe to show the rising wedge pattern on the chart else won't be able to show the possible moves within a month, but the sky blues lines are upper and lower lines of that rising wedge pattern. Here is the link of another post I made to show this wedge pattern on weekly chart:- As of now bank nifty is in between and it is most likely forming ABC correction wave shown in blue color wave. It has formed wave A already after making new LTH where it touched the upper line of pattern and now seems to be making the wave B to retrace back few points on upper side (wave drawn in green) and then it need to form wave C (wave in red color) which can possibly go till the lower line of the wedge pattern as drawn on the chart. As bank nifty has so far respected this wedge pattern lines beautifully since Covid time means 2020 i.e. 4+ years so it is highly likely that it will get support around 49300-49500 if it reaches there following the pattern drawn. This is also 0.618 fib retracement taking 04 June 2024 low (46077) and LTH of (54467). From there it can start a new up move if gets support. ** I have predicted a possible downside move in Nifty 50 as well and for that to happen bank nifty shall fall too, here is the link for that post:- ** This is not a trade advise, just applying chart patterns, wave theory together to predict the possible moves and please do your own analysis before taking any trade. ** If it breaks below 49000 level then Bank nifty will lead to much bigger corrections but for now I am not predicting that to happen. Thanks for taking a look and if you like or find the analysis relevant please like and share. Also comment to provide your inputs which probably I have missed. Thanks!
NSE:BANKNIFTY
by brainyAccount81243
Banknifty formed Bearish Harmonic PatternAs we see on daily time frame its has formed a Bearish Harmonic pattern and even FII Long short percentage has reaching its Highly Overbrought senario where we can expect a good correction in coming days. Support and resistance levels are marked in chart, note after a retracement it may try to make double top means again may retest all time high and from there we can see a good correction. Just a view not a Reco.. may be wrong as well of making double top situation.
NSE:BANKNIFTYShort
by gttsudhakar
3
BANK NIFTY INTRADAY LEVELS FOR 19/11/2024BUY ABOVE - 50440 SL - 50140 TARGETS - 50640,50900,51060 SELL BELOW - 50140 SL - 50440 TARGETS - 49950,49700,49500 NO TRADE ZONE - 50140 to 50440 Previous Day High - 50440 Previous Day Low - 50140 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:BANKNIFTY
by Jagadheesh_JP
Bank Nifty Under Pressure: Head-and-ShouldersNSE:BANKNIFTY has currently formed a head-and-shoulders pattern, indicating potential bearish sentiment. The asset has been showing weakness over the past few days. Additionally, a diamond pattern formed inside the right shoulder, which has also broken down. The 49650 level is a strong support line and serves as the neckline of the head-and-shoulders pattern. The market is slowly approaching this level, and if it breaks, the target could be as low as 46000. Meanwhile, Bank Nifty is approaching the 50 EMA on the weekly chart after a strong close on the 20 EMA. Overall, the indications point to a bearish outlook for Bank Nifty. Traders should remain cautious and monitor the market closely for any potential developments.
NSE:BANKNIFTY
by DragonFly-Trading