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BANKNIFTY trade ideas

11 October 2024 Banknifty Today's Result BankNifty Analysis for 11th October 2024 Today, BankNifty opened on a bearish note, showing a sharp decline in the early hours. The index dropped to a low of 51,172.30 before experiencing a short recovery. The selling pressure continued, leading to a deeper slide, ultimately ending the day at 51,189.25, marking a 0.70% fall with a drop of 358.60 points. Key levels were broken, and the market showed resistance around 51,267.05, which limited the bounce. Although a minor recovery was seen post 11:00 AM, it remained unable to push the index above crucial resistance levels. The general sentiment for the day was bearish, indicating a downtrend with short-lived recoveries. The sellers maintained control for most of the session, and traders had to be cautious with their entries, especially with the breakdown of major support levels.
NSE:BANKNIFTY
by XTrap_000
Banknifty if 51750 not break fall will continue 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:BANKNIFTYShort
by JaiPrakashShuklaHarmonicTrader
Banknifty Intraday Analysis for 11th October 2024NSE:BANKNIFTY Index closed near 51530 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 52000 Strike – 16.83 Lakh 51500 Strike – 14.28 Lakh 52500 Strike – 11.75 Lakh Put Writing 51000 Strike – 17.98 Lakh 50500 Strike – 11.73 Lakh 51500 Strike – 11.70 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 50750 – 50650 range and if this support is broken then index may tank near 50200 - 50100 range.
NSE:BANKNIFTY
by RKMAURYA
BANKNIFTY: INSTITUTIONAL LEVELS FOR 11/10/2024QUICK GUIDE - Use 5 minute timeframe - Try to take enters at retest - Use multiple confirmation - Read full description before investing - Try to take ATM options or above Explanation: This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit This trading opportunity is based on volume, previous price, and price range , are included Entry/Exit point's: - It has very easy entry and exit points - In this pair of lines with two colors are given (RED AND BLUE) - In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan) Stop Loss/Take Profit: Stop Loss - According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) ) - A short entry should use the opposite rules to a long entry Take Profit -When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit ) - Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry ) Timeframe: According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this) Risk Disclaimer: Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading. Engagement: Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together. What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders! Comment below and let's get the conversation started! Original Content: This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
NSE:BANKNIFTY
by tony_fx_sm
BankNifty levels - Oct 14, 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 directions and levels for October 11th.Bank Nifty Current View: The sentiment is similar to Nifty. If the market starts neutral or negative, it may consolidate between minor 38% and the upside level of 51,812. After this, if a breakout occurs, we can follow the direction, whether to the upside or downside. This is our first variation. Alternate View: The alternate view suggests that if the market breaks or consolidates around the immediate support level (minor 38%), the correction may continue towards 51,065 to 50,806 on the downside.
NSE:BANKNIFTY
by Manickamtraders
10
Bank Nifty Analysis for TomorrowBank Nifty Analysis for 11/10/2024 Market Outlook: I expect a flat to slightly gap-down opening tomorrow. Key Levels: - Crucial Level: - 51,270 - Support Levels: - 51,400 - 51,270 - 51,040 - Resistance Levels: - 51,650 - 51,800 Trading Strategy: - Long Position: - If Bank Nifty opens around 51,400, I will take a long trade targeting 51,650 and 51,800. - If it drops to 51,270, I will average my position for a long trade, targeting 51,400 and 51,650. - Short Position: - If Bank Nifty sustains below 51,270 for 15 minutes, it will indicate a clear short trade with targets at 51,040 and 50,800.
NSE:BANKNIFTY
by SkyTradingZone
PCR Option Trading Investors use several financial measures to gauge the market temperament before parking their money into the same. Put call ratio is one such financial tool which proves useful for investors in more than one way. To understand the application and role of this financial measurement one needs to be well-versed in its basics. Here, we have elucidated the nitty-gritty of the same, including the put call ratio formula and other facts. Put Call Ratio Meaning Typically, a put-call ratio is a derivative indicator. It is designed to enable traders to determine the sentiment of the options market effectively. This ratio is computed either by factoring in the open interest for a given period or based on the volume of options trading. Also known as PCR, this particular ratio serves as a contrarian indicator and is mostly concerned with options build-up. Such an indicator helps determine the extent of bullish or bearish influence in the market. In other words, it helps traders to understand whether a recent increase or decrease in the market is excessive or not. Based on this information, traders decide if they should opt for a contrarian call in the prevailing market. Such an investment strategy is based on the practice of purchasing or selling investment units against the prevailing market conditions, to combat mispricing in the securities market. How is Put Call Ratio Calculated? Before learning about the put call ratio formula, it is crucial to understand the components of this ratio individually. For instance, the put option provides traders with the right to purchase assets at prefixed prices, whereas, the call option offers the right to purchase assets at the current market prices. Put call ratio calculation can be done in the following ways - Based on Open Interests of a Specific Day PCR is computed by dividing open interest in a put contract on a particular day by open call interest on the very same day. PCR (OI) = Put Open Interest/ Call Open Interest Based on the Volume of Options Trading Here PCR is computed by dividing the put trading volume by the call trading volume on a specific day. PCR (Volume) = Put Trading Volume/Call Trading Volume Here, Put volume indicates the total put options initiated over a specific time-frame. Conversely, Call volume indicates the total call options initiated over a specific time-frame. Notably, the interpretation of this said ratio differs as per the type of investor.
NSE:BANKNIFTYEducation
by SkyTradingZone
BankNifty Intraday Support & Resistance Levels for 11.10.2024On Thursday, BankNifty opened with a gap up and surged to a high of 51,659.45, closing at 51,530.90, gaining 524 points over the previous close. BankNifty has exited the Daily Demand Zone and closed above 51,420. If it can sustain this level, we may see the rally continue towards 52,254 or even 52,817. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains 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) Near Demand/Support Zone (15m): 51,086.85 - 51,207.85 Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support at 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
PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 11 OCT 202411 Oct 2024 WORLD MARKETS 1. World markets are consolidating with a bullish bias. INDIA VIX AND GIFT NIFTY 1. India VIX is still above 14 indicating bearishness. That is the reason option premium on call side was not raising. 2. GIFT Nifty is indicating 60 points downtick at 24940. This amount to 51350 for Bank Nifty. INDEX HEAVY WEIGHTS 1. HDFC Bank has turned bullish. It has closed above 1662. It has a tgt of 1687. However it has become very choppy. 2. ICICI Bank is still consolidating with 1220 as a good support. 3. Reliance is bearish. It has resistance at 2775. ANALYSIS 1. As expected Nifty was range bound today. It has been range bound for past 2 days. 2. Reliance is bearish. ICICI Bank Consolidating with a bullish bias. HDFC Bank is choppy. TRADING PLAN 1. NIFTY OPEN BETWEEN 24996 - 25040 : No Trade. 2. NIFTY OPEN ABOVE 25040: Wait for a consolidation and break above 25100 decisively. 3. NIFTY OPEN BELOW 24996: wait for a consolidation and break below 24900 decisively. 4. BANK NIFTY OPEN BETWEEN 51700 - 51360: No Trade. 5.BANK NIFTY OPEN ABOVE 51700: Wait for a consolidation and move above 51900 decisively. 6. BANK NIFTY OPEN BELOW 51362 : Wait for a consolidation and break below 51150 decisively. 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 Analysis for 10th October 2024NSE:BANKNIFTY Index closed near 51005 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 52000 Strike – 12.07 Lakh 51500 Strike – 11.28 Lakh 51000 Strike – 11.19 Lakh Put Writing 51000 Strike – 11.28 Lakh 50000 Strike – 6.95 Lakh 50500 Strike – 6.10 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
11 Oct 2024 Bank Nifty Predictions (Next Trading Day)1. Index Chart Details Index: Bank Nifty Date: October 10, 2024 Time Frames: Daily (1D) Weekly (1W) Monthly (1M) 5-Minute (5M) 2. Support and Resistance Levels for Next Trading Day Support 1 51,250 Support 2 51,000 Resistance 1 51,800 Resistance 2 52,000 3. Market Scenario for Next Trading Day Expected Opening Slight Gap Up (around 51,600) Market Sentiment Bullish initially, then may turn range-bound after initial movement Timing - Open: Slightly bullish- Midday: Potentially range-bound Overall Outlook Start bullish and then range-bound as profit booking may occur after initial rise 4. Options Strategies for Next Trading Day Recommended Strikes: ATM Strike: 51,500 Call Option ITM Strike: 51,000 Call Option Strategy: Buy Call Options: Focus on the ATM and ITM strikes to capitalize on the expected bullish opening. Target: Aim for a quick profit on the initial move, then consider exiting or adjusting positions if the market turns range-bound. 5a. Calendar Spread Strategy 51,500 Sell (Weekly) This week To capture premium decay as the market stabilizes 52,000 Buy (Monthly) Next month To hedge against potential upward movement 5b. Daily, Weekly, and Monthly Trends Daily Bullish Upward Weekly Bullish Upward Monthly Bearish Downward 6. Trading Recommendations for ATM, ITM, and OTM ATM Trade Best during initial market hours (9:15 AM - 11:30 AM) ITM Trade Good for quick profits in the morning session OTM Don't Trade Avoid unless strong bullish signals are present General Better Not to Trade If market shows signs of reversal after initial bullish move Summary Next Trading Day: Expect a slight gap up with initial bullish momentum, followed by potential range-bound trading. Focus on ATM and ITM options for quick profits, and consider a calendar spread for hedging. Monitor support and resistance levels closely to adjust your strategy as needed. Disclaimer: Do Manage your Risk and Money management, Do not Forget to PUT STOP LOSS.
NSE:BANKNIFTY
by JayeshBoradia
BankNifty levels - Oct 11, 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