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BANKNIFTY trade ideas

PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 08 OCT 202408 oct 2024 WORLD MARKETS 1. US is consolidating with a positive bias. 2. Europe is consolidating with a negative bias. Asia is mixed. INDIA VIX AND GIFT NIFTY 1. India VIX is still above 15 indicating more bearishness. 2. GIFT Nifty is indicating a flat opening. INDEX HEAVY WEIGHTS. 1. HDFC Bank has closed below 1630 indicating break of crucial level. 1630 is a strong resistance. It has a tgt of 1560. However any opening above 1640 will be bullish. 2. ICICI Bank is reluctantly moving down. Any open below 1220 will be bearish with a tgt of 1183. 1220 is a good support. 3. Reliance has resistance at 2741. Next tgt at 2650. ANALYSIS 1. Tomorrow will be election result of Haryana and J&K. 2. Better to be very cautious. Wait for second half to trade. By that time results will be almost out. Even by 1000 Hrs, the trend will be out. TRADING PLAN 1. NIFTY OPEN BETWEEN 24670 - 24916: NO TRADE. 2. NIFTY OPEN ABOVE 24916: Sell any rally to 25000. Buy only above 25100. 3. NIFTY OPEN BELOW 24671: Sell any rally to 24800. 4.BANK NIFTY OPEN BETWEEN 50921 - 50040: NO TRADE. 5.BANK NIFTY OPEN ABOVE 50921: Wait for a consolidation and break below 50800 decisively. 6. BANK NIFTY OPEN BELOW 50000: Sell any rally to 50500. 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:BANKNIFTYShort
by sam20051968
Navigating the Challenges of Stock Market TradingLife can be tough for many of us because we need to earn money, whether we enjoy our jobs or not. To make a living, we often have to sacrifice our time and energy. Finding something that truly satisfies us is a challenge in itself, and only a few people manage to achieve that. Even when some of us do find our passion, others may criticize us for not sticking to the jobs we studied for. While some discover their passion and pursue it, others may feel trapped in their career choices. For me, I find satisfaction in trading and investing in the stock market. I enjoy having the flexibility to spend my time how I want, which is why I chose this path. I know it isn't easy to earn money in the stock market, but I believe it's possible. With a strong desire to learn and confidence in my abilities, I am committed to making it work. Like many traders, I've faced my fair share of obstacles. I've tried various strategies, and, unfortunately, I've lost a significant amount of money along the way. Despite being cautious, the nature of trading means that losses can happen. I remember when COVID-19 hit; it sparked chaos in the market, and my portfolio crashed. At that point, some of my funds were locked, which limited my ability to buy dips. However, I persevered and found a way to recover. The journey didn’t stop there. After the pandemic, regulations changed, cutting leverage for trades. This was a significant setback for me, especially since I primarily traded in Futures & Options (F&O). Previously, I relied on leverage to amplify my trades, allowing me to use a portion of my funds to F&O trades while saving the rest for buy stocks . However, when the leverage was cut, I found myself in a difficult spot. Now, I have to use my entire capital for F&O trading, which limits my ability to invest in other opportunities. Additionally, They have increased the margin requirements for F&O trades, meaning I need to put in even more money to take positions. Despite these setbacks, I'm trying to manage my situation and adapt to the new trading environment. I remain hopeful that with patience and a solid strategy, I can find my way back to successful trading. After everything was set and going well another problem emerged: the market became extremely unpredictable due to global events, like the Russia-Ukraine war. I found that everything I’d learned seemed ineffective as I faced daily gaps in stock prices. I made losses instead of profits for some time, but I knew this volatility wasn't permanent. I decided to take a break from futures and options trading to focus on swing trading and creating and back-testing some strategies. To be frank,It took me more than three years to become profitable in the stock market. While I eventually became profitable, the journey remained challenging for many retailers. Taxes on trading profits and loss can be daunting, and the government frequently raises these taxes, further complicating the situation for traders. Recent changes implemented by the Securities and Exchange Board of India (SEBI), such as shifting from weekly expires to daily expires and now back to weekly expires, along with the changes in lot sizes and increased margin requirements, have made it more difficult for retail traders to navigate the market. The current regulatory environment seems to disadvantage retail investors who have invested years in learning about the stock market, developing patience, and gaining experience through both struggles and mistakes. Despite these efforts, it feels as though recent changes implemented by SEBI are making it more challenging for many retail traders, both struggling and profitable. It appears that these regulations may be favoring institutional investors who have more financial resources to navigate the market, leaving smaller investors and traders at a disadvantage. Despite these challenges, I want to stay hopeful for the future. I wish all traders the best in their journeys, hoping they find profitability and consistency in their trading. The path is not easy, but with perseverance, it's still possible to thrive in the stock market. "Anyone can choose anything, but only a few have the perseverance to stay the course on the path they’ve chosen."
NSE:BANKNIFTY
by ard-komercisto
4
Banknifty Intraday Analysis for 07th October 2024NSE:BANKNIFTY Index closed near 51460 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 53000 Strike – 31.85 Lakh 52500 Strike – 22.36 Lakh 52000 Strike – 20.25 Lakh Put Writing 50500 Strike – 15.76 Lakh 51000 Strike – 13.40 Lakh 51500 Strike – 11.99 Lakh Index has resistance near 53200 – 53300 range and if index crosses and sustains above 53300 level then may reach near 53600 – 53800 range. Index has immediate support near 51100 – 51000 range and if this support is broken then index may tank near 50600 - 50500 range.
NSE:BANKNIFTY
by RKMAURYA
08 Oct 2024 - Bank Nifty Predictions (Next Trading Day)1. Index Chart Details Index: Nifty Bank Index Date: October 7, 2024 Time Frames: Daily (1D) Weekly (1W) Monthly (1M) 5-Minute (5M) 2. Support and Resistance Levels for Next Trading Day Support 50,194.30 Resistance 51,462.05 3. Expected Market Scenario for Next Trading Day Opening Likely gap down due to recent bearish momentum. Market Behavior Start bearish and then range-bound. Timing Initial bearish movement in the first hour, followed by consolidation. 4. Options Strategies for Next Trading Day Strike Price Strategy Rationale 50,500 (ATM) Buy CALL Potential for a bounce if support holds. 50,200 (ITM) Buy PUT Hedge against further downside risk. 51,000 (OTM) Sell CALL If expecting range-bound behavior, collect premium. 5a. Calendar Spread Strategy 50,500 (Daily) Daily Capture short-term volatility. 50,200 (Weekly) Weekly Benefit from time decay on the short leg. 50,000 (Monthly) Monthly Longer-term position to hedge against larger moves. 5b. Daily, Weekly, and Monthly Trends Daily Bearish Weekly Bearish Monthly Bullish (but recent bearish pressure) 6. Trading Recommendations for ATM, ITM, and OTM ATM Trade Early session (9:15 AM - 10:30 AM) ITM Trade Mid-session (10:30 AM - 1:00 PM) OTM Don't Trade Late session (1:00 PM onwards) Summary Next Trading Day: Expect a gap down opening, with potential for a bearish start followed by a range-bound market. Strategies: Focus on ATM and ITM options for potential trades, while considering a calendar spread for hedging. Trends: Daily and weekly trends are bearish, while the monthly trend shows some bullish potential but is under pressure. This analysis is based solely on the provided charts and does not account for external market factors. Always consider your risk tolerance and market conditions before making trading decisions.
NSE:BANKNIFTY
by JayeshBoradia
BankNifty levels - Oct 08, 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 7, 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
#Banknifty directions and levels for the 2nd week of October.Current View: The current view based on the RSI data is as follows: * The RSI divergence is likely to occur in the sub-wave 5. The structure suggests there is a 5th sub-wave forming. Once the market starts to bounce back, we can close the 5-wave structure in the 1st leg of the correction, leading into the 2nd leg. * The ideal 2nd leg is a three-wave structure, which could take a minimum of 38% to 61% bounce back from the previous swing. > In rare occasions, it could reach 78%. Structurally, it won’t go beyond this level; however, if it does, the overall trend will turn bullish. * Once the three-wave structure (2nd leg) completes, the 3rd wave will begin. The 3rd wave is a correctional wave; if it rejects and cuts below the EMA20 line, we can assume that the downtrend may continue further. This is our first variation. Alternate View: * The alternate view suggests that if the week starts with a negative candle, it may evolve into a diagonal structure. * A diagonal is a time adjustment pattern, so the correction could continue with some minor bounce backs. * However, the diagonal also indicates a sub-wave of the 5th. Once the diagonal pattern breaks upwards, the previous sentiment will apply here as well, meaning we can expect a minimum of a 38% bounce back from the previous swing.
NSE:BANKNIFTY
by Manickamtraders
4
4th Oct 2024 - BankNifty falls 2280pts ~ 4.24% - stance bearish--- BankNifty Stance Bearish ️⬇️ Banknifty also dropped 4.24% ~ 2280pts, the reversal signs were pretty clear last week and we did mention it in our weekly newsletter as well. There were 3 interesting moves this week.  Gap down on 30th Sep Gap down on 3rd Oct Strong price action on 4th Oct In fact, we fell almost 800 pts on 4th Oct after 12.30 pm, negating our retracement in the morning period. 51715 may act as a strong resistance and if we break through, I would like to change my stance back to neutral. Till then would prefer to go with a bearish stance. --- On 1st October 2024, SEBI issued a new circular "Measures to Strengthen Equity Index Derivatives Framework for Increased Investor Protection and Market Stability". In this circular, they asked the exchanges to limit the weekly expiries to just one index. They also suggested increasing the contract size from Rs5 to 10 lakhs currently to Rs15 to 20 lakhs effective from 20th of November. SEBI also asked trading members (brokers) to increase the Initial Margin (IM) and Extreme Loss Margin (ELM) even for the option buyers, this would be effective from 1st February 2025. Finally, they decided to increase the ELM for short options contracts by 2% on Expiry day.
NSE:BANKNIFTYShort
by viswaram
Advanced MACD with Professionals The moving average convergence/divergence (MACD) indicator is a technical tool that helps traders identify entry and exit points for buying or selling securities. It's made up of three time series calculated from historical price data, and the metrics are highly adaptable: MACD series: The main series Signal or average series: The second series Divergence series: The difference between the first two series Momentum Trading Otimize your MACD strategies with ... The MACD indicator is often displayed with a histogram that shows the distance between the MACD and its signal line. The histogram is positive when the faster EMA line is on top, and negative when it's on the bottom. Here are some tips for using the MACD indicator: Buy or sell: Traders may buy when the MACD line crosses above the signal line, and sell when it crosses below. Understand moving averages: Moving averages tend to trail behind price movements, but the MACD can transform this into a trading strategy. Look at the difference between two moving averages: This shows how fast a trend is moving.
NSE:BANKNIFTYEducation
by EmpireCrown
Bank Nifty Approaching critical DEMAND ZONE: EXPLAINED The Bank Nifty index has been under pressure recently, but technical analysis suggests we may be nearing a significant turning point. As the index approaches the psychologically important level of 51,000, traders should be on high alert for signs of a potential reversal. ## Technical Outlook The 51,000 mark represents a crucial support level for Bank Nifty, acting as both a psychological barrier and a strong demand zone. This level has historically provided support, making it a key area to watch for potential buying interest. ## Recent Price Action Bank Nifty has experienced notable selling pressure in recent sessions, with the index closing near its lows and forming bearish candle patterns. This downward momentum has brought the index to a critical juncture. ## Potential Reversal Signals As we approach the 51,000 level, traders should closely monitor the following reversal signals: - Bullish candlestick patterns (e.g., hammer, bullish engulfing) - Positive divergences on momentum indicators - Increased trading volume on up-moves - Break above short-term moving averages ## Trading Strategy While the overall trend remains bearish in the short term, the proximity to strong support presents a potential opportunity. Risk-tolerant traders may consider initiating long positions if clear reversal signals emerge near the 51,000 level. However, it's crucial to implement strict stop-losses and manage risk appropriately. ## Key Levels to Watch - Strong support: 51,000 - Immediate resistance: 51,600 - Key resistance: 52,000 Remember, while technical analysis can provide valuable insights, market conditions can change rapidly. Always use proper risk management and stay prepared to adapt your strategy as needed
NSE:BANKNIFTY
by Wealthcam
PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 07 OCT 202407 Oct 2024 WORLD MARKETS 1. All the world markets are looking Bullish and are up 1% - 1.5%. INDIA VIX AND GIFT NIFTY 1. India VIX is above 14 indicating increase in volatility. 2. GIFT Nifty is indicating 56 points uptick at 25050. This amounts to 51600 for Bank Nifty. INDEX HEAVY WEIGHTS 1. HDFC Bank has very good support at 1640 levels. 2. ICICI Bank has good support at 1200 - 1230. 3. Reliance has support at 2750 levels. we may see some bounce back from here. ANALYSIS 1. There is Haryana and J&K result on 08 oct 2024. This may affect Nifty on down side. 2. The market may look for dovish comment by RBI MPC meeting. 3. Finally we have result season for QE sep Starting next week. 4. So be ready for some volatility. Market may turn rangebound also for the next few days. 5. Because of high VIX option premium are trading at high value. TRADING PLAN: 1. NIFTY OPEN BETWEEN 24868 - 25155: NO TRADE. 2. NIFTY OPEN ABOVE 25155 : Wait for a consolidation and break below 25100 decisively. 3.NIFTY OPEN BELOW 24868: Sell any rally to 25000. 4. BANK NIFTY OPEN BETWEEN 51750 - 51200: Sell any rally to 51850 and break below 51700. 5. BANK NIFTY OPEN ABOVE 51750: Wait for a consolidation and break above 52100 decisively. If break down happen below 51700, it is a sell. 6.BANK NIFTY OPEN BELOW 51185: Sell any rally to 51500. 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 Levels - 7th Oct 2024if BANKNIFTY sustain above 51557 then 51619 to 51674 above this bullish then 51880 to 51931 or 51983 above this more bullish If BANKNIFTY sustain below 51383 or 51364 below this bearish then 51208 to 51158 or 51121 then 51055 below this more bearish then 50859 then 50772 to 50746 Consider some buffer points 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 Support & Resistance Levels for 07.10.2024On Friday, BankNifty opened gap down but quickly recovered, reaching a high of 52,358.35, entering the 15-minute Supply Zone highlighted in the previous post. However, it faced strong selling pressure at that level and plunged 1,000 points from the day’s high, hitting a low of 51,347.25. BankNifty broke through the near Daily Demand Zone and entered the Far Daily Demand Zone, closing at 51,462.05, down 383 points from the previous session. The Weekly Trend (50 SMA) remains positive, but the Daily Trend (50 SMA) has turned sideways. As BankNifty approaches the support/demand zone (50,369.40 - 51,420.15), a potential bounce could take it back up towards 52,817, near the Daily Supply Zone. Demand/Support Zones: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price near the zone) Near Demand/Support Zone (75m): 51,025 - 51,222.65 Far Demand/Support Zone (75m): 50,564.65 - 50,891.65 Supply/Resistance Zones: 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 Keep these levels in mind for potential trading opportunities!
NSE:BANKNIFTY
by PriteshPal