It looks like Bank Nifty has completed the correction in wxy from 43425 as shown in the chart... Now since wave y has completed retraced more than 38% hold the levels, we can expect a decent upmove from here after a slight correction...
•Good Evening Friends!
•BONUS LEARNING POINT:- When ATM Strike PRICES Are Low Then Chances Are High For TRENDING Market
•For Buying (Buying CE) Or Shorting PE
We Can TRADE On Our Money Management And Risk Management When Market Create A BULLISH Price Action Above The Level Of 42745.85
•For Selling (Buying PE) Or Shorting CE
We Can TRADE On Our Money...
As we can see after much of consolidation BANKNIFTY finally broke down and fell over 1000++ points in just 2 days! Now watching the global cues we can expect a gap down opening tomorrow and hence opening near 42000 mark which is a supposed strong support and also a psychological level we can see a strong upmove hence we should wait for signs of reversal before...
BANKNIFTY analysis for tomorrow. In my opinion the market will be GAP DOWN tomorrow. If the market cross 42481 then we can go for PE(PUT) in banknifty for tomorrow... First target 42378, second target 42234 and third target 42085. if the market goes UPSIDE we should BUY CE(CALL) in banknifty above 42756. First target42905. second target 42973 and third target 43135...
Banknifty has started closing below the 20 Dma and today it tested 42300 levels. Though, in the last hour the markets regained some momentum and closed around 42600.
The market has been trending down and there are resistances created on the higher levels that will oppose an up move.
On the hourly time frame, the moving averages are close enough and a bearish...
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BankNifty-06/01/2023-Levels
IMPORTENT ZONE FOR THE DAY : 42738 - 42760
Possibilities of Today market open...
Possibility 1: FLAT
If market open as a FLAT and moves to UP-SIDE then BUY with the Support of H_R and SELL with the Rejection of H_R.
(or)
If market open as a FLAT and...
BANKNIFTY Intraday Trade Setup For 06 Jan 2023
Buy-Above 42660
Sl-42550
T- 42915 43190
Sell-Below 42295
Sl-42405
T-41980 41569
BANKNIFTY has closed on a bearish sentiment with 0.81% cut. We already discussed yesterday that bearish stance will be on below PDL, so has happened. Today it opened with a slight gap up and then sell triggered below 42855 on a 15 Min...
06 JAN 2023 2115 HRS
1. US markets are looking bearish.
2. Europe is very bullish.
3. Asia is bearish.
4. SGX Nifty is indicating a flat start.
5. India VIX is at 15. however it is down compared yesterday.
6. HDFC Bank is looking bearish. If it breaks below 1590, then bank nifty will be very bearish. Next tgt will be 1570.
7. ICICI Bank has res at 889 and sp at...
The FASP for BankNifty is listed for 06-1-2023. 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...
Banknifty View and Support & Resistance Levels for Tomorrow..
Expectation : BEARISH / Negative Sentiment - Flat / Small Gap down Open from Close and BEARISH Reversal from CPR 42682.
Yesterday I posted Banknifty will test 42400, Its done and dusted today.
Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone...
Banknifty Pivot Levels
Support Zones
Frist Support Level For Buying - 43020 - 43055
Second Support Level For Buying - 42790 - 42830
Third Support Level For Buying - 42585 - 42610
Resistance Zones
First Resistance Level For Selling - 43500 - 43520
Second...
Take a look at the chart below, 5mts TF its a perfect continuation from yesterday - we broke the 1st support at 09.40 and 2nd support at 13.15 in the single leg.
And then we had a retracement back to the SR level (yellow dotted lines) and final close there.
So what do we infer from the charts today
Expiry level positioning worked out very well today, all the...
NSE:BANKNIFTY
Trade Setup for 06-01-2023
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up...
![BANKNIFTY: Simple Trade Setup | BANKNIFTY | 06-01-2023 [INTRADAY]](https://s3.tradingview.com/x/XwjpsJNY_mid.png "Simple Trade Setup | BANKNIFTY | 06-01-2023 [INTRADAY]")
