BANKNIFTY Levels - April first to second weekBanknifty support and resistance for level based trading. This is my view and I recommend everyone to cross check with their studies,too. It works on both intraday & positional. by tradingcultsUpdated 0
Banknifty prediction for tomorrow 10 Apr 24As we discussed in our last analysis, the market faced resistance from 49960. (Near Fib 1.414) If we look at the chart now: The market is trading at ATH. Also, the market is facing resistance in the resistance zone(1H-TF). The market is also showing a Bullish divergence that will force the market to be in the bull's favor. 49000 is a very strong level of resistance. So, the market is likely in the range of 48549-49000. All important levels are marked on the chart. If we look at the OI data: PCR = 1.18 shows bullish sentiments. There is huge CE unwinding at lower levels(48500, 48600) but normal CE writing at higher levels. 48800, 48900, and 49000 had good CE writing. Whereas 48500 is good PE writing. So, 48500 is going to provide good support, and the market is going to face multiple resistance at 48800, 48900, and 49000. If we look at the FII & DII data: FII is bullish; the Client is bearish. I am expecting a gap-up open and then fall from 48950. Reasons: PCR = 1.18 indicates a bullish structure. (Bullish) The market is trading in a resistance zone. There is a high probability that the market will take a pullback here till the Fib 0.38 level. (Bearish) Price >> 200EMA and 13EMA >> 200 EMA that might lead to a correction in the market. (Bearish) RSI is showing bullish divergence, which might force the market to be sideways. (Sideways) Price < VWAP means the market is in the bears' favor. Verdict : Sideways or Bearish Plan of action : Sell 49000 CE and Sell 48600 PE (Hedge with 20/- premium) Exit either side, and it breaks. by finnova_Updated 4416
Technical analysis with OI dataToday bank nifty and nifty both are sideways to bullish. Bank nifty 48500-49000 Nifty 22600-22800 Banknifty try to reach 49000 today as per OI databy hitendrakul0
#banknifty directions and levels for April 10th.Banknifty also has the same structural sentiment; it has closed at the Fibonacci level of 23%. If the market opens with a gap-up and sustains it, then we can expect the rally to continue with minor consolidations. In that case, we can expect a minimum range of 49,021 to 49,183. Alternatively, if the gap-up doesn't sustain, we can expect the Fibonacci level of 38% to be reached when it breaks the previous day's low.by Manickamtraders3
Insights(10APR24):Bearish Bias,small gapup or @ last close. REDNSE:BANKNIFTY Bearish Bias, small gap up or at last close. Red day. Open: small gap up or at yesterdays close. Bearish Bias. Should retest yesterdays low, if broken should go further low as highlighted. Should end in red. Model Prediction: (Caution: Models hallucinate sometimes): { 'Day': 'Wednesday', 'Date': '10-APR-2024', 'Gap': 'Up', 'GapChange': '10.0', 'Candle': 'Red', 'Open': 48730, 'High': 48788.85, 'Low': 48555.05, 'Close': 48708.05 } (Inner voice): Hmm... back again without any data points. What's your analysis ? (Me): Its just a probability... 1. Based on my historical data analysis I see a Bearishness today. 2. My RenkoIndicator shows a sell signal. (Inner voice): Can't trust your RenkoIndicator, it repaints and sometimes the signal just vanishes into thin air. hahaha...What if it just turns out to be a huge gap up and very Bullish ? (Me): Always look at the pre-market and take the final call. Also have strict SL. (Inner voice):Hmm... lets say you are right this time... how do someone take an entry, exit and SL ? (Me): What i do based on the pre market if it aligns with me I enter a buy with say 1 lot on open and may add additional lot if it tests and rejects previous close or open in this case. SL will be previous days High and take profit 1 will be next resistance point as highlighted and so on. (Inner voice): What if SL is too huge... and it turns against you ? (Me): It depends and adjust based on if probability is high and have a strong conviction. (Inner voice): Hmm...How do I trust you ? (Me): Don't trust anyone blindly...Do your own research before jumping in... You are responsible for your trades and loss or profit. This is only my journal I am maintaining for my studies, research and educational purpose. Follow strict stop loss. Do your own research before investing or trading in any stock or indices or crypto. Disclaimer: I am not SEBI registered. This is not a financial, investment or trade advice. You are responsible for your trades. Its only for educational purpose.Shortby jac0012
BANK NIFTY INDEX 45 MIN GANN ANALYSIS FOR EXPIRY 10 APR 2024Bank Nifty index has made ATH yesterday at 48960 odd. Then gave some intraday corretion and closed at 48730. Here also after 28 Dec high of 48636 we have a choppy run om Bank Nifty index but the bull run from covid lows has been fantastic. Squaring time date id 25 April 2024. squaring Price is 48829. Use both Price and Time metrics for your bias on the index. Intraday range to watch is 48791 and 48669. Breakout and Fakeout above this levels. Extreme range levels are 49504 and 48487. Happy Trading !!! N.B. Not a finanancial advice to buy or sell. With usual disclaimers as applicable within the reach of this beautiful trading analysis platform. Thanks to the developers of the programme for this opportunity to use it freely to express our ideas to the community of traders.by kbr91219656
BANKNIFTY Levels for April 10, 2024 BANKNIFTY Levels for Today Here are the BANKNIFTY Levels for today. Please note, these levels are only for Intraday. The levels identified above can act as support or resistance, although they are shown as three different supports and resistances. 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. Please consider these levels only if there is movement in index and 15m candle sustains at the given levels. Note: This idea is only for learning and educational purpose. Boosts are welcome if this information is helpful to you 😊 by RainingMoneywithTech7
09 Apr - BankNifty is structurally more Bullish than Nifty50BankNifty Analysis - Stance Bullish ⬆️ BankNifty does an inverted V pattern today due to which the Algos went negative. Was quite happy that the losses were contained in the end, but what I learned is that sharp rises & falls take out the stop losses at both ends. And what is the end result? We are treading nowhere. On the higher timeframe, BN looks more bullish than Nifty. Just like we discussed yesterday, only if we take a pause and retrace a few points - we can mark the higher high. Since the 11th is a holiday due to Ramadan, both Nifty and BankNifty will have the expiry tomorrow. --- Algo Trading The trades ended today with a loss of -18294. There is no way the Algos can defend a V or an inverted V shape. The best I could do was firefight the same manually, but I decided otherwise.Longby viswaram1
Bank Nifty traded volatile after reaching at Imp Milestone Bank Nifty showed Recovery in 1st Half, but witnessed Profit booking in 2nd Half of session The Index scaled at New All Time Highs & reached near 49000 zone Any Dips towars 48500, 48000 may look for Buying setup as trend is Positive Overall Immediate Upside Resistance is Placed near 49000, 200 Range Tomorrow is important US CPI Inflation Reading * For Education Purpose Practice and Learn price action setups by Himanu_HATradeTalk10
Bank nifty expiry trades and targets - 10/4/24Hello Everyone. I have provided bank nifty trades and targets above. The market was in a trending in both sides today. Let the resistance or support range break with 15-minute candle before going for any trade book profits every 50 points as we are getting very few trending moves. If we do in between these zones premium eating will happen and we end up seeing losses. by GOPISRI4
Bank Nifty Spot Chart Technical Analysis for 10 April, 2024📈 Bank Nifty Spot Chart Levels 🎯 Day Range: 392.5 Points 📉 - Buy at: 48810.82 📈 Avg. Pos.: 48764.50 🎯 Target 1: 48973.11 🎯 Target 2: 49123 🛑 Buyer SL: 48716.68 📉 Sell at: 48718.18 🎯 Target 1: 48487.99 🎯 Target 2: 48338.05 🛑 Seller SL: 48812.32by NumroTrader110
BANKNIFTY FOR 10 APR#Execution only after break and close above or below from resistance or support 15-minute candle. #Stop Loss above or below from resistance or support 15-minute candle. (S/R Levels Will be Flipped in The Situation of Gap up OR Gap down Open, Support Will Turn in Resistance and Resistance Will Turn in Support) (This Analysis and idea is based only on support and resistance mechanism, Buy after resistance break and close above sell after support break and close below, Closing below resistance after trade will be stop loss likewise closing above support will be a stop loss after trade) NOTE- Only for Education Purpose. This is not any kind of Trading advice I am giving by this analysis. Please Give A Like If You Like by MISSION_TRADING5
Bank Nifty Weekly Analysis For 26-03-24 to 28-03-24Bank Nifty Weekly Analysis For 26-03-24 to 28-03-24 47000-47280 is the Resistance for this Week. Long above 47300 for the targets of 47660/47890. Short Level Below 46500 for the Targets of 46300/46000. Verdict: Sideways Market to Upside.Longby n99tradesUpdated 8
Banknifty Intraday Analysis for 9th April 2024NSE:BANKNIFTY Highest Call writing of 23.44 lakh at 49000 strike followed by 23.42 Lakh at 48500. Highest Put writing of 37.36 lakh at 48000 strike followed by 24.11 Lakh at 48500 strike. If Index sustain above 48725 level then it may go near 49000 level. Trailing SL near 48450 level. If Index down to 48500 - 48450 and Building of Put position at 48500 strike then index will bounce back to near ATH resistance level. Reversal of short term trend only possible below the 48000 level which is less likely in the near term.Longby RKMAURYAUpdated 0
PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 10 APR 202410 APR 2024 WORLD MARKETS 1.US Markets are consolidating with a bearish bias. 2. Europe is consolidating with a bullish bias and Asia is mixed. INDIA VIX AND GIFT NIFTY 1. India VIX is well below 12 indicating further bullishness. GIFT Nifty is indicating a flat opening. INDEX HEAVY WEIGHTS 1. HDFCBank is facing resistance at 200 SMA as explained yesterday. However it is just a matter of time it will break out of the range. Any break of 1534 will be bearish for short term. 2. ICICI Bank has turned bullish and has broken above 1090 and 1100 is a resistance. 3. Reliance lost all its gains of yesterday. It has turned choppy. May be an index management as Infosys was up 2.5% in the morning session before settling at 1.23 % ANALYSIS 1. Tomorrow will be both Nifty and Bank Nifty expiry. We may see lot of volatility. 11 APR IS A HOLIDAY. 2. I will expect a range bound market tomorrow. However any dip will be a buy. 3. For Nifty to trend up , Reliance, HDFC bank or ICICI Bank has to perform. For Bank Nifty to perform HDFC & ICICI has to perform. TRADING PLAN 1. NIFTY OPEN BETWEEN 22687 - 22600 : STRICTLY NO TRADE. 2. NIFTY OPEN ABOVE 22700 : Wait for a consolidation and decisive break above 22730. however any dip to 22650 and move above 22670 can be accumulated. 3. NIFTY OPEN BELOW 22600 : Sell any consolidation and break below 22550 decisively. 4.BANK NIFTY OPEN BETWEEN 48625 -48840 : Accumulate any dip to 48650 levels. Sell any rally to 48900 levels. 5.BANK NIFTY OPEN ABOVE 48840 : Wait for a consolidation and break above 48900. 6. BANK NIFTY OPEN BELOW 48625 : Sell any consolidation and break below 48500 decisively. However any rally to 48700 can be sold into. 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. by sam200519680
FASP levels for Bank Nifty 10/04/2024The FASP for BankNifty is listed for 10-04-2024. You can add this levels to your trade setup for better results. This should not be the only indicator but an additional tool to increase your winning possibilities. What is Fibolysis Anchor SupRes Points(FASP)? It is a unique level arrived by using Fibonacci Retracement , Fibonacci Extension , Standard Pivot levels under various Timeframes. It is an extensively analyzed level to draw the support and resistance levels for the next day. You can use these levels along with your trade setup to increase your winning odds. Validity of the levels: 1 Day How to use these levels? The three levels on both sides are usually easily achievable. The Targets above are bit difficult to achieve in a single trading session. I use this fact to write intraday positions and to buy options. Color Coding: Green is regular support and buying area, Red is strong exit area Disclaimer: This is shared in the interest of educational purpose and for knowledge enhancement. Kindly refer it in the same light. I am not responsible for any profits or loss incurred based on this information.by SathishChandrasekaran0