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BANKNIFTY trade ideas

BankNifty at Crossroads: Will 52,600 Hold the Bulls?As per our last update via comment: “Bulls will remain strong if the index holds above 52,600.”... 5th December 2024 The rising trendline halted the index at 53,888. 6th Dec 2024 Post-RBI policy today, the index again paused near the rising trendline. The big question Will the buying zone of 52,500-52,600 come into play again? And if it does, will it hold that zone? “If the index revisits the 52,500-52,600 zone and holds, will you dare to miss the opportunity to ride the bulls again?” Market Whispers! ...Can You Hear Them? Regards, WaveTalks Abhishek
NSE:BANKNIFTY
by WaveTalks
1
Banknifty ready for new ATH but consolidation needed next weekDisclaimer - 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 Trailing SL (SL 27.2% )retracement Which is SL points then take Entry on Buy or Sell Trade SL - D points Which is recent High / Low mentioned in Chart is our SL TARGET - Target 1- (T1 : 38.2 %) Target 2- (T2 : 50 %) Target 3-  (T3 : 61.8%) Target 4-  (T4 : 78.6 %) Target 5- ( T5 : 88.6%) Target 6- (T6 : 100 %) Target 7- (T7 : 127.2 %) Target 8-  (T8 : 141.4 %) Target 9-  (T9 : 161.8 %) Please note:- It's working on news based and volitile market very well so exit if SL hit
NSE:BANKNIFTYShort
by JaiPrakashShuklaHarmonicTrader
Nifty Bank index chart analysis This chart appears to show the Nifty Bank index with multiple technical indicators and patterns applied. Below is a detailed analysis of the chart: ________________________________________ Chart Features: 1. Candlestick Chart (Heikin Ashi): • The candles represent smoothed trends, showing less noise compared to regular candlesticks. • Bullish candles: Green, indicating upward momentum. • Bearish candles: Red, indicating downward momentum. • A potential double-top pattern is visible, with two resistance zones labeled "Top 1" and "Top 2." These often indicate a reversal from bullish to bearish. 2. Indicators Used: • ATR Trailing Stops: o Green arrows (support) suggest bullish trend continuation. o Red arrows (resistance) indicate bearish trend zones. • Support and Resistance Lines: o The blue horizontal line at 53,160.65 acts as a support level. o The purple resistance level near 53,888.30 marks the price zone where the price faced rejection. • Volume: o Green and red histogram bars represent buying and selling pressure, respectively. o The volume is declining during the recent candles, indicating weak momentum. • MACD: o Two bearish divergences are marked, indicating a weakening bullish trend. o The MACD line and signal line are declining, with the histogram turning negative, showing bearish momentum. • RSI: o The RSI is below 40, confirming bearish strength. o Red dashed lines (overbought) and blue dashed lines (oversold) act as thresholds. ________________________________________ Observations: 1. Price Action: • The chart shows a potential double-top pattern near 53,888.30, a strong resistance level. This is a bearish reversal pattern. • The price has failed to break above this resistance level and is trending downward towards the support level at 53,160.65. 2. Volume: • Volume is gradually reducing, suggesting reduced participation, which often leads to weaker trends or consolidations. 3. Bearish Divergence: • MACD shows two instances of bearish divergence, signaling to weaken bullish momentum despite price making higher highs (visible at the double top). • These divergences align with the price's inability to sustain above the resistance zone. 4. Indicators Confirm Bearish Momentum: • RSI is declining, showing a bearish trend. • MACD histogram bars are negative, reinforcing the downtrend. ________________________________________ Key Levels to Watch: Resistance Levels: • 53,888.30: A break above this level with strong volume could invalidate the bearish outlook and lead to further bullish movement. Support Levels: • 53,160.65: If the price breaks this level, expect further downside with the next possible support around 51,796.70. ________________________________________ Strategy Suggestions: For Bulls: • Wait for a breakout above 53,888.30 with strong volume before entering long positions. • Avoid entering positions near resistance. For Bears: • Look for shorting opportunities if the price fails to break resistance or breaks below 53,160.65 with increased volume. • Use a stop-loss just above 53,888.30 to manage risk. Double-Top Confirmation: • If the price breaks below the neckline of the double-top pattern (near 53,160.65), it could trigger a significant bearish move. ________________________________________
NSE:BANKNIFTY
by ramumaurya
Banknifty Intraday Analysis for 6th December 2024NSE:BANKNIFTY Index closed near 53605 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 54000 Strike – 17.57 Lakh 53000 Strike – 13.43 Lakh 54500 Strike – 9.56 Lakh Put Writing 52500 Strike – 15.05 Lakh 53000 Strike – 12.44 Lakh 53500 Strike – 7.99 Lakh Index has resistance near 54000 – 54200 range and if index crosses and sustains above this level then may reach near 54500 – 54600 range. Index has immediate support near 53200 - 53000 range and if this support is broken then index may tank near 52850 - 52260 range. High volatility expected due to RBI MPC commentary on Inflation, GDP forecast and rate cut.
NSE:BANKNIFTYLong
by RKMAURYA
BankNifty levels - Dec 09, 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: INSTITUTIONAL LEVELS FOR 06/12/2024Overview 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 December 6th.Bank Nifty Current View: The sentiment for Bank Nifty looks similar to that of Nifty. If the market takes an initial pullback, it could reject each and every resistance level, indicating that it may form a diagonal pattern. This is a time adjustment and distribution pattern; therefore, once the pattern breaks below the trend line, we can expect a reversal. This is the basic structure. Alternate View: The alternate view suggests that if the market initially declines, it could reach the 38% Fibonacci level in the minor swing. However, until the 38% level is broken, the market will maintain a bullish bias. If it breaks this level, we can expect a correction.
NSE:BANKNIFTY
by Manickamtraders
BankNifty Intraday Support & Resistance Levels for 06.12.2024On Thursday, BankNifty displayed strong momentum. After an early drop to a low of 52850.35, it surged during the final trading hours to a high of 53888.30, touching the Weekly Supply Zone. It closed at 53603.55, marking a gain of 336 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is firmly positive, reflecting underlying strength. Demand/Support Zones Near Demand/Support Zone (15m): 52850.35 - 53038.60 Near Demand/Support Zone (75m): 52563.20 - 52780.90 Far Demand/Support Zone (125m): 51693.95 - 51906.90 Far Demand/Support Zone (Daily): 49787.10 - 50983.50 Supply/Resistance Zones Near Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (Tested)
NSE:BANKNIFTY
by PriteshPal
Banknifty Intraday Analysis for 5th December 2024NSE:BANKNIFTY Index closed near 53265 level and Maximum Call and Put Writing near CMP as below in December Month contract: Call Writing 54000 Strike – 16.50 Lakh 53000 Strike – 14.48 Lakh 53500 Strike – 12.21 Lakh Put Writing 52000 Strike – 16.91 Lakh 52500 Strike – 16.29 Lakh 53000 Strike – 11.67 Lakh Index has resistance near 53500 – 53600 range and if index crosses and sustains above this level then may reach near 54000 – 54200 range. Index has immediate support near 52850 - 52750 range and if this support is broken then index may tank near 52300 - 52200 range.
NSE:BANKNIFTYLong
by RKMAURYA
BankNifty levels - Dec 06, 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: INSTITUTIONAL LEVELS FOR 05/12/2024Overview 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
BANK NIFTY INTRADAY LEVELS FOR 05/12/2024BUY ABOVE - 53390 SL - 53190 TARGETS - 53700,53930,54150 SELL BELOW - 53190 SL - 53390 TARGETS - 52970,52800,52600 NO TRADE ZONE - 53190 to 53390 Previous Day High - 53390 Previous Day Low - 52800 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
Banknifty should fly from here! Due to rate cut expectation #NIFTYBANK action pack analysis on banking sector..are you ready?? Tomorrow is monetory policy, so there is higher probability we can see rate cut as minimum 25 basis points, so i am expecting this news is gonna to be positive specially for banking and nbfc sector, so chances are high banknifty can give solid move towards 54000, atleast 700-1000 points move possible from current level, other side 53000 is really strong support zone for intraday closing, right now price has came down, but it will surely give close above to 53000 levels. For downside we have very strong support zone at 52575-52650 which can act like strong support zone for intraday in case if we see more dip from here. Overall tomorrow mpc news is highly positive for market. I have a trade for that take banknifty 54000ce now at 445 you can add more in case if you get some lower levels till 390 keep strict stop loss at 300 so overall we will have 145 points stop loss for Targets we will keep at 560/675/900++ 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.
NSE:BANKNIFTYLong
by TraderRahulPal