Banknifty Prediction for Tomorrow and Current Week:
Trend : BEARISH
Sentiment : Positive
Expectation : Moderately BEARISH
Banknifty expected to be in range between 48300 & 47700 support and resistance Level this week respectively.
Tomorrow Banknifty likely to Open flat and BEARISH fall might be there before it moves on the higher side. However the weekly...
23 May 2024
WORLD MARKETS
1. US is looking bullish. Europe is mixed while Asia is trading with a negative bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is still above 21 indicating more volatility in option prices.
2. GIFT Nifty is indicating a negative opening a 40 points downtick @ 22550 levels. This amounts to 47880 for Bank Nifty.
INDEX HEAVY WEIGHTS
1. HDFC...
Hello Everyone. The market was in a bearish mode previous day. If the market opens flat then we can see continuation of trend. If it opens gap up then we need to see the resistance level to break before looking for CE trades. If it opens gap down then look for PE trades after support zone is broken. Let the market settle in first 15 to 30 minutes then look for...
As we can see despite NIFTY hitting new highs! BANKNIFTY has been falling behind but we can now expect BANKNIFTY to catch up to NIFTY anytime sooner so plan your trades accordingly.
20 MAY 2024
WORLD MARKETS
1. US and Europe markets are very bullish. Asia is mixed.
GIFT NIFTY AND INDIA VIX
1. GIFT Nifty is indicating a positive start.
2. India VIX is above 20 indicating continuation of volatility.
INDEX HEAVY WEIGHTS
1. HDFC Bank has closed above 1466 indicating more bullishness. It has good support at 1460. However 1468 remains a strong...
Utilizing 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...
NSE:BANKNIFTY
Highest Call writing of 37.53 Lakh at 48000 strike followed by 30.81 Lakh at 48200 strike and 29.67 Lakh at 48500 strike. Highest Put writing of 32.86 Lakh at 48000 strike followed by 27.85 Lakh at 47000 strike and 20.12 Lakh at 47500 strike. Index closed near 48050 level.
Index is facing resistance near 48250 level and if crosses and sustain...
NSE:BANKNIFTY
Highest Call writing of 20.18 Lakh at 48500 strike followed by 18.50 Lakh at 48000 strike and 16.44 Lakh at 49000 strike. Highest Put writing of 21.99 Lakh at 48000 strike followed by 16.92 Lakh at 47500 strike and 14.01 Lakh at 47000 strike. Index closed near 48200 level.
Index may reach near 48500 level and if crosses and sustain above 48250...
BankNifty Analysis - Stance Bullish ⬆️
Yesterday we changed the stance from bullish to neutral as 48115 resistance was not breached, but that break came by 09.51 today. Hope you got my email when we revised the stance back to bullish via trading view.
The intraday rally was a whopping 957pts ~ 2.00% and we took out 2 resistances today viz - 48115 and 48661. The...
The trades on banknifty were going on perfectly till 14.30. The final hour took out all the profits from the intraday straddles, not just that the algos ended the day in RED. The moves that came in the 2 16mts candles 14.51 and 15.07 were not normal.
Yes, we have seen even wilder moves from BN earlier, but today was just stop loss hunting by the HFTs - how else...
Banknifty had a more flattish tone today compared to Nifty. The hesitance to get past the 48115 resistance was clearly visible. Even though Nifty closed the day flat, BN gave up some points ~ 151, -0.31%.
We wish to start the 22nd with a bullish view but switch back to neutral if the 48115 resistance is not getting taken out.
Since 22nd is the expiry day, the...
Bank Nifty has hit a high yesterday at 48259.75 which was a double top with similar high at 48258.65 on 09 May 2024 at 9:15 am candle. From there we went on downside to hit a swing low of 46983.25 on 13 May 2024 at 10:40 am candle.
For intraday the range levels are 47987 and 48109 to watch. Expansion on either side could be 48230 and 47865. Further expansion if...
On 16th, we bounced from 47465 and that really helped BN to reach upto 48115 on 17th. But it was unable to get past those levels.
Om 18th, BN got past 48115 resistance showing further bullish intent. Our next target would be 48661 and to go neutral we need to break 47465.
We had a wide range movement on Friday and now price is at support. This zone will decide the trend direction.
Pattern : Support/Resistance.
Range : Medium.
Trend strength : Normal.
Buy Above : 47440.
Stop Loss : 47360.
Targets : 47520, 47600, 47680, 47760 and 47840.
Sell below : 47220.
Stop Loss : 47300.
Targets : 47140 ,47060, 46980 and 46880.
Check the live...
BankNifty Analysis — Stance Bullish ⬆️
The stance on BN also revised to bullish not because we took out the resistance, but due to the 707pts ~ 1.5% intraday rally that came right from the support level. Usually, powerful moves like this will have extended legs that could start appearing in days to follow.
We only need to know whether the move came out from a...
**Analyzing Bank Nifty Index Levels for May 17, 2024**
*Building on the previously identified levels and market dynamics, let's explore the potential support and resistance zones for Bank Nifty on May 17, 2024, to guide traders in their decision-making process.*
### Support Levels:
1. **Primary Support Level:** 47814
2. **Secondary Support Level:** 47620
3....
Utilizing 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...
