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Bankniftyanalysis

BANKNIFTY--Breakout or Breakdown ??------>> Finally the trendline broken strongly, after a long time. -------->> if price again wants to test the Resistance or continue to fall down. price is exactly closed in the demand zone, stronger one, actually its supply zone acts as demand. if this acts as support price is again bullish, and will test the supply zone again, and fall back or continue to move upside. Plan A:: Keep on the buy side from 43600 levels until it breaks. if price again breaks 43850 level and not able to go below yesterday low, we will be on buy side for target of 43950 and 44040 and 44160 level. plan B:: If price falls below demand zone, we will sell on retracement. Plan C: If price reaches the All time high again, we will go for short with confirmation only. if again price fall below 43950and takes the support @43850 pushes the price up, then sell @43950 zone. Plan D:: Price may consolidate between the Supply zones moves up breaking the all time high.
NSE:BANKNIFTY
by IIT-Trader
1
25/05/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys, Good Morning everyone, According to the data today market Gap-Up is going to open After A Gap-Up opening if Banknifty sustain Above 44000 and taking Support from 44000 then open target for T1-44200,T2-44400,T3-44500 If the Banknifty after a Gap-Up opening sustain Below 43600 and taking resistance below 43600 then the open Targets for T1-43400,T2-43200,T3-43000 If the market remains in the range of 43600 to 44000, then it is possible that even today the market will remain in the range. Major Levels 44000,44100,43500
NSE:BANKNIFTYShort
by mr_bull10
BankNifty Top Down AnalysisDear TV Family Members, It’s been a while I have published any idea’s, been occupied for a while hope you all don’t mind. Bank Nifty looks range bound between 44095 to 43757. Reason being on 5 min chart observed bullish shark harmonic pattern completed & in play, Bullish Gartley XAB completed. Points as per TA observed on a 15 Min chart: 1. Bullish Shark Harmonic pattern completed as per chart below, Min target would be 43995.65 & Max target would be 44067.65. 2. Bullish Gartley XAB Completed as per below chart, If Price gets rejected anywhere between 43995.65 to 44067.65 then the pattern is still valid. If price crosses above X-A leg (44095.25) then pattern gets invalid. Targets & SL provided in chart and screens for different time frames. Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice (Non SEBI registered). So, please do your own DD (Due Diligence) before any kind of investment”. Do you like my TA & ideas!! Want to keep yourself updated with current market action? Then don’t forget boost & subscribe for more analysis. The more boost & comments further more motivation for publishing. Let the Trading community & family know about your opinion with comments. Cheers.
NSE:BANKNIFTY
by Tron029
BANKNIFTY--Case1 or Case2 or Case3??The yesterday supply zone clearly resisting the price to down, after breaking the supply zone price reached the demand zone that form today. clearly the price is bullish again, still no sign of bearishness in the BANKNIFTY. Consolidation + Downside movement = Bullish again All the banking stocks are near its supply zone, SBIN,HDFCBANK @ Demand zone, Axisbank at Supply ready to test, ICICI In bullish channel, witness clearly in buyside, let's see what happens tomorrow. Case 1:: if tomorrow opens gap down and clearing demands and price again comes back to the supply we will go for sell in bank nifty. Case 2:: If price is again bullish from demand zone, will be on buyside above supply zone candle, it may reject again, until all time high. Case 3:: if price rejects from supply zone and not able to go below demand again buyside until ATH. This Post is Helpful Pls Like It, It give me Motivation. Thanks
NSE:BANKNIFTYLong
by IIT-Trader
24/05/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys, Good Morning everyone, According to the data today market Gap-Down is going to open After A Gap-Down opening if Banknifty sustain Above 44100 and taking Support from 44100 then open target for T1-44300,T2-44400,T3-44500 If the Banknifty after a Gap-Down opening sustain Below 43700 and taking resistance below 43700 then the open Targets for T1-43500,T2-43200,T3-43000 If the market remains in the range of 43800 to 44100, then it is possible that even today the market will remain in the range. Major Levels 44000,43800,43500
NSE:BANKNIFTY
by mr_bull10
BANKNIFTY--Weakness in Demand Zones??Observations: What is the sign of weakness in demand zones ,is this a reversal is going to happen in BANKNIFTY. Until one of the demand zones gets broken we cannot expect a reversal in bank nifty , it has to break strongly, and has to reverse for test again. until don't expect a reversal. Hope this expiry is in Rangebound. Look at demand zone created @43500 move is strongly, when its tested again strong but not as strong as previous. Every demand failed to create high also. purely failed demands. Now look @ 43800 clearly weak one, if we observe a strong supply that breaks demands then only expect a reversal mechanism works. Until wait.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY-- Monthly Expiry is Trending??BANKNIFTY index Statistics:: We have seen clearly a bullish movement from Start of April ,from 40600 levels. April Month : Is said to be bullish price, rise from 40600 to 43200 - an overall of 2600 points moved upwards. May Month:: 43200 -43800(Today) levels = Almost +500 points range. If price falls below @43200 we can say that the overall month is bearish. Consolidation:: ------>>what is the sign of this huge upward momentum stops and trading in a range, the price is clearly trading in a range bound, from last one month. Will the range be broken, we have 3 days left for monthly expiry, can we expect any trending movements. if this range is broken, we will observe a strong fall or strong rise is happens. If we consider it as a rally base rally, Rally from 40600 - 43200 Base from 43200-43800 Still bullish Rally --- From 43800 -- 46400 levels. Make it Round to 46000. Case 1: If It is a Rally--Base--Rally, we can expect the next month to be bullish. Case2: If it is sign of reversal, we can say that it's still positive....So No bearish. Case3:: If we expect some retracement , again we can say that bullish. Strong Upward momentum + Consolidation = Retracement((again Bullish Continuation)). So if retracement occurs, until which price we can expect, so if we see the technical chart we don't have any strong bullish movement is observed, every move depends on Resistance (Previous Resistances are pushing the price towards upside) ,acts as support and price moves upwards. previous resistance @42000 pushed the price up, 43000 fall acts as support, and now 43600 fall is giving support to move again. if price failed to acts as support @ 43600,we may expect a fall till 43000, and 42000. Consider this as a retracement and be bullish from these levels. The last Hope. This is another Scenario will explain Later Clearly:: From 46500 levels, if price started falling again we may see a strong sell of until 35000 and below is possible. From bottom again price creates strong Demand Zones and moving again upwards. so its clearly showing that we have only one last movement to bottom side that to 35000-34000 levels. we have gaps below @ 35600 and @34400. So clearly from 34000-35000 is the last move we can expect to the downside. while breaking the previous resistance @41800 created on oct 2021, price fall back 4400 points. After breaking the resistance price moved 2300 points from 41800 - 44200 levels. now we are at the resistance 44200, if price fall from this levels, we will expect the previous resistance @41800 level will push the price towards upside 2300 points from resistance, 44200+ 2300 = 46500 range. If price failed to break the high 44200 level and breaks below 41800 then only think of sell side. Elliott wave:: wave 1: 32300 to 41800 wave 2: 41800 to 37400 wave 3: 37400 to 44200 wave 4: 44200 to 38600 wave 5 : 38600 to 44200 + 2300 = 46500 levels. If we consider the Elliott wave theory wave 5 is more than wave 3, If this post is Helpful please Support me with like. Thanks
NSE:BANKNIFTY
by IIT-Trader
1
BANKNIFTY--Break @ATH or Reversal ??---->> The index is trending upwards. ----->> until price breaks demand zone@43500-43350 level, no sign of bearishness in the BN. ----->> The demand created @ 43600 have a chance to take the price above 44200 levels, careful here short. ----->> After taking the support from these levels, price is not moving above the 44200 levels. yesterday showing bullish pressure @43600 levels, if it will continue to move will see a new highs above @All time highs. @ This level, sellers aggressively try to push it downwards. If buyers failed to take above levels, causing a break below 43500-43350 levels, sellers will take advantage of it causing break of bullishness. Consider only a short term downtrend. ------->> Fake outs may possible @44200 levels, keep track this levels. -------------------------------------------------------------------------------------
NSE:BANKNIFTY
by IIT-Trader
2
22/05/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONE Hello Guys, Good Morning everyone, According to the data today market Flat is going to open After A Flat opening if Banknifty sustain Above 44200 last day high above and taking Support from 44200 then open target for T1-44300,T2-44400,T3-44500 If the Banknifty after a Flat opening sustain Below 43500 and taking resistance below 43500 then the open Targets for T1-43400,T2-43200,T3-43000 If the market remains in the range of 33500 to 44000, then it is possible that even today the market will remain in the range. Major Levels 44000,43800,43500
NSE:BANKNIFTY
by mr_bull10
BANKNIFTY--Enters in to Consolidation ??----------->>the stock is trending upwards in daily time frame. now the price is facing resistance 44000 levels. ------------>> We will wait for the price to break the range for confirmation of the trend of bank nifty, still it is in bullish trend. ------------>> Yesterday the price is in ranging. ------------>> the previous supply zone@43900-43850 clearly resisting the price to go down. ------------->> the previous demand zone @43450-43400 level failed to take the price above 44150 levels. ------------->>If price clears both these supply and demand zones , price heavily falls below 43400 levels and reach to 43100-43000 levels. ------------->> Keep track these zones, will the range be broken or not. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- If price breaks 44150 levels, we will observe again bullishness in bank nifty will take to new levels. be careful here false breakouts may happen at these levels. Now the plan C is working, may plan B also be possible. Manipulation and turning back again to below.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY--Bearish or Bullish??The demand zone @ 43900 acts as supply zone and price falls back, below 43900 levels. the previous demand zone @ 43450 level acts as support again and price moved back to the supply zone created at 43850 levels. @this level previously a strong sell off is observed, after strong sell of price is consolidated and moved up again. while breaking this area we will again see some consolidation, if price opens still in this range, consolidation to downside is observed. if 43900 -43850 level acts as resistance price will fall back to below 43300 levels. key level of support 43100-43000. Note:: In Higher time frame still the trend is uptrend.. keep in mind, this is the phase to observe if it is a bearish turn or bullish again . As a expiry today, price is still in the range 43300 - 43850 range.
NSE:BANKNIFTY
by IIT-Trader