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BANKNIFTY trade ideas

Bank Nifty on October 29, 2024Resistance Levels: Primary Resistance: 52,000. This is a strong resistance level, and crossing above it could signal bullish momentum. Secondary Resistance: 52,300. This level could act as an extended target if buying interest sustains above 52,000. Support Levels: Primary Support: 51,400. This level provides a buffer, where buying may emerge. Secondary Support: 51,000. If the price drops below 51,400, it might test this lower support. These levels serve as actionable points based on current technical insights and are ideal for identifying potential entry and exit zones depending on how Nifty and BankNifty react around these key support and resistance points. As always, monitor real-time market conditions and volumes closely to validate trade entries and exits
NSE:BANKNIFTY
by GAVIXH
Bank Nifty on October 29, 2024Resistance Levels: Primary Resistance: 52,000. This is a strong resistance level, and crossing above it could signal bullish momentum. Secondary Resistance: 52,300. This level could act as an extended target if buying interest sustains above 52,000. Support Levels: Primary Support: 51,400. This level provides a buffer, where buying may emerge. Secondary Support: 51,000. If the price drops below 51,400, it might test this lower support. These levels serve as actionable points based on current technical insights and are ideal for identifying potential entry and exit zones depending on how Nifty and BankNifty react around these key support and resistance points. As always, monitor real-time market conditions and volumes closely to validate trade entries and exits
NSE:BANKNIFTY
by GAVIXH
Banknifty intraday levels for 29th Oct 2024 Please check the levels on chart Consider some buffer in above levels. Please do your due diligence before trading or investment. **Disclaimer -  I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk. Thank you.
NSE:BANKNIFTY
by PrashantTaralkar
Banknifty intraday levels for 29th Oct 2024 Please check the levels on chart Consider some buffer in above levels. Please do your due diligence before trading or investment. **Disclaimer -  I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk. Thank you.
NSE:BANKNIFTY
by PrashantTaralkar
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NSE:BANKNIFTYLong
by SkyTradingZone
BankNifty Intraday Support & Resistance Levels for 29.10.2024On Monday, BankNifty opened with a gap up, reaching a high of 51,589.15, testing the 75m Supply Zone mentioned in the previous post. Selling pressure from this supply zone caused it to drop nearly 400 points, closing at 51,259.30, still up 471 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain sideways. The demand and supply zones are unchanged. Demand/Support Zones: Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far Support at 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones: Near Supply/Resistance Zone (75m): 51,411.30 - 51,781.55 (tested on Monday) Near Supply/Resistance Zone (Daily): 51,855.15 - 52,577.50 Far Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPal
Bank Nifty: Projected Correction to 46,000 wi1. Trend Channels and Structure Ascending Channels: The chart shows multiple upward-sloping trend channels marked by purple lines. These channels highlight the bullish trajectory of Bank Nifty over the past several months. The index is currently trading within a well-defined upward channel but has experienced recent pullbacks, which might suggest a reversion to the lower boundaries of this trend. Support and Resistance Levels: The primary support levels appear at approximately 46,000 and 48,000 based on the lower trend lines of these channels. Resistance is seen near the upper boundary, around 54,000 to 56,000, where previous peaks were observed. 2. Key Price Levels and Projections Short-Term Target of 46,000: The current downward trend, as depicted by the zigzag movement within the lower boundary, suggests that Bank Nifty could test the 46,000 level by the end of the year. This aligns with your prediction of reaching this level, possibly due to increased volatility or market corrections. Bounce from Support: Based on the projected trajectory, Bank Nifty may find strong support around 46,000-48,000. The chart’s structure suggests a likely rebound from this support, which may lead to a subsequent rally towards the upper trend line, possibly testing 52,000 - 54,000 in early 2025. 3. Potential Price Action Pattern Wave-like Pattern: The drawn zigzag within the channels indicates a wave-like correction pattern, possibly an ABC correction within Elliott Wave Theory. This pattern could complete around the 46,000 - 48,000 support zone, where the index might initiate a new bullish wave. Bullish Continuation in 2025: If the correction completes as projected, Bank Nifty could enter a bullish continuation phase in 2025, moving back toward the mid-50,000 range. This would align with the broader upward trend channel that has been respected since the beginning of the chart. 4. Technical Indicators and Momentum Momentum and Volume Analysis: Although the chart does not display volume, the recent downward price action suggests profit-taking or short-term bearish momentum. However, the strong structural support zones imply that once this corrective phase stabilizes, momentum could shift bullish again. Consolidation Zones: Past consolidation zones around 48,000 to 50,000 may serve as strong bases for the next rally, suggesting this zone will be crucial for future price action. If Bank Nifty holds this level, it can confirm the start of a new bullish leg. 5. Conclusion and Strategy Short-Term Outlook: Bank Nifty may experience a corrective move down to 46,000 levels, making it a critical zone to watch for support. Long-Term Potential: After this correction, Bank Nifty could resume its bullish trend, targeting 54,000 and potentially higher levels in early 2025 if the index respects the lower trend line and historical support. Risk Management: Traders should be cautious of any breach below 46,000, as it might suggest a breakdown from the long-standing trend channel. However, if Bank Nifty holds the 46,000 - 48,000 range, it could present a favorable buying opportunity for a longer-term uptrend.
NSE:BANKNIFTY
by Kapil-Mittal
Banknifty Intraday Analysis for 28th October 2024NSE:BANKNIFTY Index closed near 50785 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 51500 Strike – 30.67 Lakh 52000 Strike – 28.51 Lakh 52500 Strike – 23.01 Lakh Put Writing 50000 Strike – 20.36 Lakh 49500 Strike – 16.59 Lakh 49000 Strike – 16.08 Lakh Index has resistance near 51400 – 51500 range and if index crosses and sustains above this level then may reach near 52000 – 52200 range. Index has immediate support near 50200 - 50000 range and if this support is broken then index may tank near 49700 - 49500 range.
NSE:BANKNIFTYLong
by RKMAURYA
BankNifty levels - Oct 29, 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 Levels for October 28, 2024BANKNIFTY Levels for Today Here are the today's BANKNIFTY Levels for intraday. Based on market movement, these levels can act as support, resistance or both. Please consider these levels only if there is movement in index and 15m candle sustains at the given levels. The SL (Stop loss) for each BUY trade should be the previous RED candle below the given level. Similarly, the SL (Stop loss) for each SELL trade should be the previous GREEN candle above the given level. Note: This idea and these levels are only for learning and educational purpose. Your likes /boosts gives us motivation for continued leaning and sharing ideas.
NSE:BANKNIFTY
by RainingMoneywithTech
BANK NIFTY INTRADAY LEVELS FOR 28/10/2024BUY ABOVE - 50920 SL - 50670 TARGETS - 51160,51420,51700 SELL BELOW - 50670 SL - 50920 TARGETS - 50380,50050,49700 NO TRADE ZONE - 50670 to 50920 Previous Day High - 51420 Previous Day Low - 50380 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
25th Oct 2024 - IndusInd lower circuit, ICICI Bank will save us?BankNifty Stance Bearish ️⬇️ BN has fallen only 2.46% ~ 1283 points and is much better than Nifty on a relative basis. IndusInd Bank took a huge beating on Friday as it fell ~ 18.63% due to poor quarterly results. Indian stock markets are not used to such wild reactions, but if our markets start punishing stocks for bad results, I guess it is much better for the future. Ideally, such reactions on stock prices will keep the management on their toes to avoid poor results thereby helping them put in the necessary hard work to achieve the desired results. ICICI Bank will react to its results today, since we are in a bearish hold, would like to see if Sell on Rise is applicable on this scrip. The main point to consider is that ICICI has more than 27% weightage on BankNifty and is single handedly capable of bringing out BN from the Bear hold. 51101 is my first resistance level above which I will change the stance to neutral. For real bearish momentum to pick up, we need to fall below 49704.
NSE:BANKNIFTYShort
by viswaram
banknifty sell on rise 51114 good resistance and 50500 support51114 is working as cip if open gapup above 51114 bulish potential target 52000 if opened flat can see side way market wait for 50400 broken can see blood bath in banknifty it can touch 49712 if open gapdown below 50400 wait fo sell on rise, sell on ticks market dont long in any case we can check 52000 pe if cip take place in 52000 pe it will cause good fall. wait for 51114 or 50500 broken between non trading zone sell on rise
NSE:BANKNIFTYShort
by bilaspur_123
BankNifty Intraday Support & Resistance Levels for 28.10.2024On Friday, BankNifty opened flat to slightly negative and faced intense selling pressure, dropping to a low of 50,382.10 before closing at 50,787.45, down 743 points. The Weekly Trend (50 SMA) shifted sideways from positive, while the Daily Trend (50 SMA) remains sideways. As anticipated, once the critical 51,000 level broke, BankNifty slid an additional 600 points. A further dip toward the psychological level of 50,000 is possible before we see any meaningful bounce. Demand/Support Zones: Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones: Near Supply/Resistance Zone (75m): 51,411.30 - 51,781.55 Near Supply/Resistance Zone (Daily): 51,855.15 - 52,577.50 Far Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPal
Bank Nifty - Weekly analysis 28th to 1st (Monthly Expiry)Banknifty Weekly Review BNF looks little bit strong when comparing to Nifty and 50350 level is a good support area. However if 50300 breaks we can see good fall in BNF also. This week BNF is expected to trade between 50400 and 51700 S&R zones. We can see a small correction on the BULL side this week and from 51700 we can see BEARISH reversal upto 49700. This is where BNF trend reversal can be seen. Look for Buy/Sell at Demand and Supply zone for profitable trades. Demand and Supply Zones - When price breaks the zone, Demand zone will become Resistance and Supply zone will become Support. Refer the chart for detailed Intraday Support and Resistance levels.
NSE:BANKNIFTY
by ViVenTraders