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BANKNIFTY

BANKNIFTY : Trading Levels and Plan for 23-Dec-202423-Dec-2024 Bank Nifty Trading Plan Color-Coding: Yellow: Sideways trend. Green: Bullish trend. Red: Bearish trend. 23-Dec-2024 Trading Scenarios: Gap Up Opening (+200 points or more): If Bank Nifty opens above 51,272 but below 51,420 , this range acts as an immediate resistance zone. Watch for bearish rejection patterns like a double top or bearish engulfing to initiate short trades targeting 51,097-50,872 . If prices sustain above 51,420 , the sentiment shifts bullish. Consider long trades above this level with targets of 51,832-52,000 . Use a stop loss at 51,250 to manage risk effectively. Flat Opening: A flat opening near 50,872-50,664 suggests consolidation. Wait for a breakout above 51,097 for long trades targeting 51,272-51,420 . Alternatively, a breakdown below 50,664 may trigger bearish momentum. Short trades can be initiated below this level, targeting 50,069-49,800 . Use hourly candle closes to confirm breakdown or breakout for improved accuracy. Gap Down Opening (-200 points or more): A gap down below 50,664 puts immediate focus on 50,069 as a critical support level. Look for bullish reversal patterns (e.g., hammer or morning star) within this zone to initiate long trades targeting 50,664-50,872 . If prices fail to hold 50,069 , expect extended bearish pressure, with short trade targets at 49,800-49,500 . Maintain a stop loss at 50,150 to protect capital. Risk Management Tips for Options Trading: Prefer buying options in volatile markets instead of selling to limit risk. Use spreads (e.g., bull call spreads or bear put spreads) for defined risk-reward. Monitor implied volatility (IV) levels; higher IV suggests premium decay risk for sellers. Cap exposure to a fixed percentage of your trading capital per trade. Summary & Conclusion: Bank Nifty’s movement on 23-Dec-2024 will revolve around critical zones, especially 51,097-51,272 and 50,664-50,069 . Respect these levels and wait for confirmations before initiating trades. Effective risk management and disciplined execution are key to navigating volatile markets. Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Please consult your financial advisor before making trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
1
BANKNIFTY : Trading levels and Plan for 24-Dec-2024Plan vs. Actual Performance (23-Dec-2024): In today's session, Bank Nifty opened near the 51,097-51,272 resistance/support zone, as anticipated in the plan. Prices respected the Opening Resistance/Support zone , consolidating within this range initially (yellow trend indicating sideways movement). A breakout above 51,272 was short-lived, and prices struggled to sustain higher levels, aligning with the plan's cautionary note about rejection patterns. The range-bound behavior observed in the chart perfectly matches the yellow zone prediction in the plan, highlighting indecision in the market before testing key levels. No significant bullish or bearish breakout was sustained, demonstrating the market's hesitancy near the projected levels. Key Takeaway: The trading plan's highlighted zones (resistance and support) provided reliable levels for observing price action and market trends, with the sideways movement being accurately forecasted. The chart for the 24th of December 2024 provides a detailed plan for different opening scenarios, including gap up, flat, and gap down openings. This plan will help traders navigate the market effectively. Trading Plan for 24-Dec-2024 Gap Up Opening (200+ points) If the market opens above 51,593.00, look for a bullish trend continuation towards the next resistance level at 51,719.00. Monitor price action around 51,719.00. If the price sustains above this level, the next target would be 51,962.00. Place a stop loss below 51,593.00 to manage risk. Flat Opening If the market opens around the previous close of 51,287.25, observe the price action within the no trade zone (51,306.90 to 51,353.00). A breakout above 51,353.00 could signal a bullish trend towards 51,420.95. A breakdown below 51,306.90 could indicate a bearish trend towards 51,267.00. Manage risk by placing stop losses just outside the no trade zone. Gap Down Opening (200+ points) If the market opens below 51,073.00, look for a bearish trend continuation towards the next support level at 51,010.00. Monitor price action around 51,010.00. If the price sustains below this level, the next target would be 50,781.00. Place a stop loss above 51,073.00 to manage risk. Risk Management Tips for Options Trading Always use stop losses to limit potential losses. Avoid over-leveraging; trade within your risk tolerance. Diversify your trades to spread risk. Keep an eye on implied volatility and time decay when trading options. Regularly review and adjust your trading plan based on market conditions. Summary and Conclusion The trading plan for the 24th of December 2024 outlines strategies for different opening scenarios, including gap up, flat, and gap down openings. By following the plan and adhering to risk management principles, traders can navigate the market effectively. Remember, the yellow trend indicates sideways movement, the green trend indicates a bullish trend, and the red trend indicates a bearish trend. Disclaimer I am not a SEBI registered analyst. This plan is for educational purposes only and should not be considered financial advice. Always conduct your own research and consult with a professional before making any trading decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BANKNIFTY : Trading Levels and Plan for 20-Dec-2024 Intro: Review of the Previous Day’s Plan As mentioned in Yesterday's plan BANKNIFTY has found support from level mentioned in Chart yesterday. The chart movement adhered closely to the plan, with Bank Nifty consolidating within the highlighted zones before attempting an upward breakout. The yellow trend on the chart depicted a sideways consolidation, while green and red trends outlined bullish and bearish moves respectively. Today, we prepare for potential scenarios based on expected market openings. Plan for Different Opening Scenarios Gap-Up Opening (200+ points above 51,902): If Bank Nifty opens above 52,068, the index is likely entering the resistance zone highlighted in orange. Watch for rejection signals around 52,381, the last intraday resistance. Plan of Action: Look for bearish reversal candles or patterns near 52,381 to initiate short positions with a target of 52,068 and a stop loss above 52,450. In case of a sustained breakout above 52,381, consider fresh longs targeting 52,600 or higher. Ensure confirmation with strong volume. Key Tips: If trading options, focus on slightly OTM puts for shorts. For breakout trades, consider ATM or slightly OTM calls. Flat Opening (Within 51,800-52,000 range): A flat opening near 51,902 keeps the market in the opening resistance zone. Price action within this zone (yellow trend) will guide the next move. Plan of Action: Observe price behavior for 30 minutes. If the index breaks below 51,800, initiate shorts targeting 51,418 with a stop loss at 52,000. If the index breaks above 52,068, initiate longs with targets at 52,381 and stop loss below 51,902. Key Tips: For flat openings, straddle or strangle strategies can help capture significant moves in either direction. Gap-Down Opening (200+ points below 51,902): A gap-down below 51,418 enters the green support/consolidation zone. Watch for potential reversals or breakdowns near 51,092 or the Wave B lower band at 50,664. Plan of Action: If Bank Nifty reverses from 51,092, initiate long trades with targets at 51,418, maintaining a stop loss at 50,900. A breakdown below 51,092 confirms bearish momentum. Short positions can target 50,664, with stop loss above 51,200. Key Tips: For aggressive trades in this scenario, consider deep OTM puts for higher returns. Risk Management Tips for Options Trading: Avoid over-leveraging; allocate no more than 2-3% of capital per trade. Use hourly candle close as confirmation for entries and exits. Hedge positions using spreads to limit losses. Exit trades promptly if they don’t perform as expected within the first 30 minutes. Summary and Conclusion: Today's trading plan focuses on key levels derived from technical analysis. The yellow trend indicates likely consolidation, the green trend suggests bullish opportunities, and the red trend signals potential bearish moves. Adherence to price action at critical levels will be crucial for maximizing profits and minimizing risks. Always ensure disciplined execution and maintain a balanced approach. Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Please consult with your financial advisor before making any investment decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BANKNIFTY : Levels, prediction and Plan for 19-Dec-2024Intro: Previous Day's Plan vs Actual In yesterday's trading plan, BankNifty tested the Wave C Support Zone near 51,903 - 52,068 as highlighted in yesterday's trading plan, showing indecision within the sideways range (Yellow Trend). As expected, the index respected the completion zone for Wave C and stayed above the support area for most of the session. However, no clear breakout or breakdown occurred. Now, for 19-Dec-2024, we will plan for three potential opening scenarios: Gap Up, Flat, and Gap Down, considering a gap opening of 200+ points. The key levels and actionable strategies are explained below. Trading Scenarios for 19-Dec-2024 Gap Up Opening (200+ points): If Bank Nifty opens above the Resistance for Sideways Trade at 52,647, it indicates bullish sentiment. - Monitor the first 30 minutes for a sustained breakout above this level. If the price holds above 52,647, the next target will be the Last Intraday Resistance at 53,039. - However, failure to sustain above 52,647 may lead to a retracement back to the Opening Resistance at 52,381. - Action Plan: - Initiate long positions only if an hourly candle closes above **52,647**, with targets at **53,039**. - If price fails to sustain and shows weakness, wait for retracement back to **52,381** for possible re-entry opportunities. Flat Opening: If Bank Nifty opens near the Opening Resistance at 52,381, it signals indecision, and price may move sideways (Yellow Trend) before providing direction. - A breakout above 52,381 can trigger a move toward the Resistance for Sideways Trade (52,647), while a breakdown below 52,205 (previous close) could drag prices back toward the Wave C Completion Zone at 52,068 - 51,903. - Action Plan: - Avoid trading immediately after the open. Let price break above **52,381** for bullish trades, targeting **52,647**. - A breakdown below **52,205** could signal short opportunities with targets at **52,068** and **51,903**. - Manage risk by placing stops based on an hourly candle close above/below these levels. Gap Down Opening (200+ points): If Bank Nifty opens near or below the Wave C Completion Zone (52,068 - 51,903), it signals bearish momentum. - Look for signs of support formation in this zone, as prices could take a reversal from here (Green Trend). - Failure to hold 51,903 could lead to further downside towards the critical support at 51,418 (red trend). - Action Plan: - Look for long opportunities if Bank Nifty holds above **51,903** with confirmation (hourly close), targeting a bounce back to **52,205** and then **52,381**. - If price decisively breaks below **51,903**, consider short trades toward **51,418**, with a strict stop loss above **52,068**. Risk Management Tips for Options Traders : Use spreads like Bull Call Spreads for bullish moves or Bear Put Spreads for downside moves to limit risks in volatile openings. Avoid trading during the first 15-30 minutes if opening is erratic or near key levels like the Wave C zone. Let the price stabilize. Always place stop losses on an hourly candle close basis for better risk management. Avoid over-leveraging; focus on maintaining a favorable risk-reward ratio (minimum 1:2). Summary and Conclusion: Bank Nifty remains at a crucial juncture near the Wave C Completion Zone. Key Levels to Watch: Upside: 52,381, 52,647, 53,039 Downside: 52,205, 52,068, 51,903, and 51,418 Yellow Trend reflects sideways price action, Green Trend signals bullish reversals, and Red Trend highlights bearish continuation. Focus on price action near key levels, and avoid trading in uncertain zones. Disclaimer: I am not a SEBI-registered analyst. This trading plan is for educational purposes only. Traders should conduct their analysis or consult a financial advisor before making decisions.
NSE:BANKNIFTY
by LiveTradingBox
BANKNIFTY : Trading levels and plan for 18-Dec-2024Trading Plan for Bank Nifty – 18th December 2024 The chart for 17th December 2024 outlined key levels like the **Golden Retracement Zone (₹52,581 - ₹52,998)**, deep retracement at ₹51,868-₹52,074, and potential resistance levels like ₹53,225 and ₹53,519. The plan predicted consolidation within the golden zone and a potential breakout. On 17th December, Bank Nifty respected the yellow highlighted zone (sideways trend) but showed weakness at intraday resistance. Buyers failed to take control, indicating the market might revisit lower retracement zones. Now, let's discuss the detailed trading plan for 18th December based on potential opening scenarios. --- Trading Plan for 18th December 2024 Key Levels for the Day: Support Zone: ₹52,581 - ₹52,789 (Golden Retracement Zone) Resistance Levels: ₹53,225 (Intraday Resistance), ₹53,519 (Resistance for New Highs) Deep Retracement Zone: ₹52,074 - ₹51,868 (113%-127% Fibonacci) Yellow Trend indicates sideways consolidation, Green Trend shows bullish movements, and Red Trend highlights bearish trends. --- 1. Gap-Up Opening (+200 Points or More Above ₹52,998) - If Bank Nifty opens above ₹52,998, it enters the upper band of the **Golden Retracement Zone**. - Immediate focus will be on **₹53,225** (Intraday Resistance). - A bullish breakout above ₹53,225 may lead to a quick move toward **₹53,519** (Resistance for New Highs). Plan of Action: Look for bullish price action confirmation (green candles, strong volumes) near ₹52,998-₹53,225. Place a buy trade above ₹53,225 for targets of ₹53,519, with a stop loss at ₹52,900. If resistance at ₹53,225 holds and bearish candles appear, plan short trades below ₹53,000 targeting ₹52,789-₹52,581 (lower retracement zone). Tips: Avoid chasing trades during the first 15 minutes; wait for clear price action confirmation around resistance zones. --- 2. Flat Opening (Near ₹52,789 - ₹52,998) - A flat opening within the **Golden Retracement Zone** suggests potential sideways consolidation. - Buyers will likely attempt to defend the zone between ₹52,789-₹52,581. Plan of Action: Observe price behavior within the range. If support holds above ₹52,789, consider a buy trade above ₹52,998 with targets at ₹53,225 and ₹53,519. If price breaks below ₹52,581, shift focus to the **Deep Retracement Zone (₹52,074-₹51,868)**. Plan a short trade targeting ₹52,074 with a stop loss at ₹52,800. Tips: For options traders, use **strangle or straddle strategies** to capture sideways volatility if price stays within the golden retracement range. --- 3. Gap-Down Opening (-200 Points or Below ₹52,581) - A gap-down opening below ₹52,581 will indicate bearish pressure. - Price is likely to test the **Deep Retracement Zone (₹52,074 - ₹51,868)**, a potential reversal area for Wave C. Plan of Action: Wait for price to enter the deep retracement zone. Look for bullish reversal patterns (e.g., hammer, bullish engulfing) near ₹52,074-₹51,868 before initiating a buy trade targeting ₹52,581 . If price fails to hold ₹51,868, plan short trades targeting ₹51,500 with a stop loss at ₹52,200. For aggressive traders, sell on breakdowns below ₹52,581 for quick intraday moves toward the deep retracement zone. Tips: In case of a gap-down, avoid panic trades. Wait for price to stabilize and confirm levels before entering positions. --- Risk Management Tips for Options Trading: Avoid over-leveraging; allocate no more than 2% of capital per trade. Use hedging strategies like bull call spreads or bear put spreads to limit risks during volatile sessions. Always place stop-loss orders for both futures and options trades. Avoid trading options with low liquidity to minimize slippage. --- Summary and Conclusion: - For 18th December 2024, the **Golden Retracement Zone (₹52,789 - ₹52,998)** is the key area to watch. A breakout above ₹53,225 can trigger a bullish rally, while a breakdown below ₹52,581 may lead to further bearishness toward the deep retracement zone. - Sideways consolidation is expected if the price remains within the golden retracement range. - Focus on price action signals and risk management to navigate the session effectively. Disclaimer: I am not a SEBI-registered analyst. The views expressed here are for educational purposes only. Please consult your financial advisor before making trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
BankNifty Intraday Support & Resistance Levels for 17.12.2024On Monday, BankNifty opened negative, made a high of 53738.90, and fell to a low of 53335 during the session. It closed almost flat at 53581.35, losing just 2 points over the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain positive. Demand/Support Zones Near Demand/Support Zone (75m): 52264.55 - 52665.15 Far Demand/Support Zone (Daily): 51693.95 - 52197.25 Far Demand/Support Zone (125m): 51693.95 - 51906.90 Supply/Resistance Zones Near Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (tested)
NSE:BANKNIFTY
by PriteshPal
BANKNIFTY : Trading Levels and Plan for 17-Dec-2024🔹 Previous Day's Plan vs Actual (16-Dec-2024): In yesterday's trading plan, we identified the No Trade Zone / Liquidity Zone near 53,395-53,705, expecting consolidation in this range. We also highlighted the Opening Support/Resistance Zone at 53,277-53,233 as a critical area to observe. As seen in today's chart, Bank Nifty respected the No Trade Zone before showing rejection at higher levels. The price tested the Opening Support Zone and bounced back but failed to sustain above key resistance. This reflects sideways movement (Yellow Trend) and minor bearish pressure in the later part of the session. Today's plan will analyze three key opening scenarios for 17-Dec-2024 and guide traders with actionable steps. We will also focus on risk management strategies for options traders. 🔹 Bank Nifty Trading Plan for 17-Dec-2024: Scenario 1: Gap Up Opening (200+ points) If Bank Nifty opens above the No Trade Zone (53,705) and sustains, we could see bullish momentum. The next key resistance is the Profit Booking Zone at 54,233-54,472, which coincides with a potential new high. 🔹 Plan of Action: Observe price action for the first 15-30 minutes. If prices sustain above 53,705 on an hourly candle close , initiate long positions with a target of 54,233 and an extended target of 54,472. Place a stop loss below 53,705 to protect against reversal. 🔹 Bullish Confirmation: Sustaining above 53,705. Aggressive moves can be expected if volumes increase near this level. 🔹 Key Target Levels: First Target: 54,233. Extended Target: 54,472. 🔹 Risk Management Tip: Avoid chasing a gap-up rally; wait for a pullback near support zones before entering trades. Options traders can buy slightly ITM CE to mitigate time decay. Scenario 2: Flat Opening (Near 53,490) If Bank Nifty opens flat, focus on the No Trade Zone between 53,395-53,705. This zone is likely to show sideways movement (Yellow Trend) unless a breakout or breakdown occurs. 🔹 Plan of Action: Avoid initiating trades inside the No Trade Zone as price could face rejection. A breakout above 53,705 will trigger bullish momentum (Green Trend). A breakdown below 53,395 will open doors for bearish movement (Red Trend). 🔹 Trade Setups: Long Position: Above 53,705, targeting 54,233. Short Position: Below 53,395, targeting 53,277 and 53,002. 🔹 Risk Management Tip: Use tight stop losses near breakout/breakdown points. For options traders, wait for hourly candle confirmations to avoid false signals. Scenario 3: Gap Down Opening (200+ points) If Bank Nifty opens below 53,277 (Opening Support/Resistance Zone), bearish pressure may intensify. The Last Support for Intraday at 53,002 will be the crucial level to watch. If this support fails, expect a sharp fall toward 52,577. 🔹 Plan of Action: If prices open near 53,277, observe price behavior for the first 15-30 minutes. If the level fails to hold, initiate short positions with a target of 53,002 and an extended target of 52,577. If Bank Nifty shows a bounce from 53,277, look for reversal opportunities toward 53,490. 🔹 Bearish Confirmation: Sustaining below 53,277 with strong bearish candles. Volumes increasing near the support breakdown will signal further downside. 🔹 Key Target Levels: First Target: 53,002. Extended Target: 52,577. 🔹 Risk Management Tip: For options traders, buy slightly OTM PE with defined stop loss above resistance. Avoid holding short positions overnight in case of volatility. 🔹 Risk Management Tips for Options Traders: Avoid taking positions during the first 15 minutes to avoid false breakouts. Use slightly ITM options to reduce time decay impact. Focus on hourly candle closes for confirmation of breakouts or breakdowns. Always have a stop loss in place to protect against sudden reversals. Trade with smaller position sizes when market volatility is high. 🔹 Summary & Conclusion: A Gap Up Opening above 53,705 can lead to bullish continuation toward 54,233-54,472. A Flat Opening inside the No Trade Zone requires caution. Look for a breakout above 53,705 or breakdown below 53,395 for direction. A Gap Down Opening below 53,277 can trigger bearish moves toward 53,002 and 52,577. Yellow Trend represents sideways consolidation, Green Trend signals bullish moves, and Red Trend indicates bearish momentum. 🔹 Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Traders are advised to conduct their own analysis or consult with a financial advisor before making trading decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BankNifty Intraday Trade Setup | 17th DecToday, BankNifty closed with a minor gap-down and traded in a range from 53700 on upside to 53335 on downside. As per setup posted yesterday, sell trade triggered below 53480 but it missed our 1st target by 10 points. Overall it was a range bound day for BankNifty. Tomorrow, buy BankNifty if sustains above 53700 for the targets of 53900 and above marked level. On the other side, if BankNifty sustains below 53300 on the downside, sell BankNifty for the targets of 53120 and below marked level on the chart. Expectations: Range-bound day. Intraday Levels: Buy Above - 53700 Sell Below - 53300 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
1
BankNifty Intraday Trade Setup | 16th DecOn Friday, BankNifty gave big moves. In morning we saw breakdown and BankNifty made a low around 52260 but we saw strong reversal from lower levels and BankNifty made a high at 53654 which is approx 1400 points rally from day low. Tomorrow, buy BankNifty if sustains above 53700 for the targets of 53850 and above marked level. On the other side, if BankNifty sustains below 53480 on the downside, sell BankNifty for the targets of 53320 and below marked level on the chart. Expectations: Volatile day. Intraday Levels: Buy Above - 53700 Sell Below - 53480 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
1
BANKNIFTY and Sentiment Cycle Indicator Performance (PAID)This is the Bank Nifty Chart, and you can clearly see that today’s market moved up, but no sentiment signal was triggered. The reason for this is simple – if you look at the volume at the bottom, you’ll notice it was low. This low volume indicates a trap move, and our indicator successfully identifies such traps. Here’s how it works: • Green background indicates a bullish sentiment. • Red background indicates a bearish sentiment. • No background color (neither green nor red) means a sideways market. In Nifty and Bank Nifty, traders often get stuck in sideways zones, which lead to losses due to a lack of momentum. This is where our indicator comes into play – helping you avoid trap trades and sideways market areas. Also, this is an all rounder indicator and can be used in FOREX, commodities, oiltrading and crypto, you name it and use it. Additionally, if you use this indicator on a 5-minute chart, it becomes more responsive. This is crucial in the Indian market, where we face premium decay in options trading. Unfortunately, TradingView doesn’t allow me to showcase the 5-minute chart here, so I’m sharing the 15-minute chart instead. Even on this timeframe, you can clearly see how effectively the indicator highlights the sideways market or “No Trading Zones”, helping traders avoid unnecessary trades and book smarter trades.
NSE:BANKNIFTY
by TradeTechanalysis