BANKNIFTY INDEX FUTURES discussion
BANKNIFTY1! Looks Like Banknifty Set For Correction CMP@54200
BANKNIFTY1! Banknifty heading for a 700 points fall further from these levels !DONT STAY IN Long !!
BANKNIFTY1! Hello Everyone 👋
Bank Nifty Index Futures (BANKNIFTY1!) on a 4-hour timeframe
Support Levels:
51,000: This level has shown strong support in recent sessions.
50,650: Another significant support level where buying interest has been observed.
Resistance Levels:
51,470: If the price breaks above this level, it could target higher resistance levels.
51,800: This is a crucial resistance level to watch for potential breakouts
BANKNIFTY1! Bank Nifty levels:
51,417
Equity Pandit predicts that Bank Nifty will be considered bearish if it trades below 51,417 levels.
46,213
According to a TradingView analysis, if Bank Nifty travels above 45,969, it may reach its full target of 46,213.
45,785
According to a TradingView analysis, 45,785 is an important level. If the price remains above it and crosses standard deviation 2, it may go much higher.
BANKNIFTY1! Support and Resistance Levels: Identify recent highs and lows to determine where the price might encounter resistance or find support. These are crucial for predicting potential reversals or breakouts.
Trendlines: Draw trendlines to visualize the current trend direction. Trendlines can help you spot trend continuation or reversal patterns.
BANKNIFTY1! Risky Traders: Buy BANKNIFTY 51100 CALL 18SEP24 Stop Loss 540-536.10(Trig) Stop Loss 470 Target 625+
BANKNIFTY1! - This week in India, several important economic events are scheduled that could impact BankNifty and Nifty:1. **Monday, August 12, 2024**:
- **Industrial Production YoY**: The year-over-year industrial production data will be released, with the previous figure at 5.9%[1].
- **Inflation Rate YoY**: The inflation rate for the year will be announced, with the previous rate at 5.08%[1].
- **Manufacturing Production YoY**: Manufacturing production data will also be released, with the previous figure at 4.6%[1].
2. **Wednesday, August 14, 2024**:
- **WPI (Wholesale Price Index) Inflation YoY**: This includes the WPI Food Index, WPI Fuel, and WPI Manufacturing data[1].
3. **Thursday, August 15, 2024**:
- **Balance of Trade**: Trade balance figures will be released, with previous data showing a trade deficit of $21 billion[1].
These events are significant as they provide insights into the economic health of India, influencing market sentiment and potential policy responses.
Citations:
[1] tradingeconomics.com/india/calendar
[2] moneycontrol.com/economic-calendar
[3] in.investing.com/economic-calendar/
[4] www2.deloitte.com/us/en/insights/economy/asia-pacific/india-economic-outlook.html
[5] conferencealerts.co.in/india/economics
[6] zerodha.com/markets/calendar/
[7] pib.gov.in/PressReleasePage.aspx?PRID=2034973
BANKNIFTY1! High Risky Option TradersBuy BANKNIFTY 50500 21aug24 PUT above 535 Stop Loss 470 Target 620-700
BANKNIFTYN2024 Buy BankNifty Aug24 Above 51220 Stop Loss 50900 Target 51580-52000
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