BankNifty 24-OCT-2024 Intraday Levels, Sell Trend in BankNifty BankNifty tried to go upside and respected that resistance level which we identified yesterday as per the price movement.
It reversed, and keep trading near bottom level.
BankNifty took pause today in daily time frame and can continue tomorrow and become trending.
We can sell when 5 min candle close below 51150 price.
Note : Its just an analysis, wait for the price to confirm.
Disclaimer : Always follow risk to reward, this is the only key to success in market, no matter how much good a trade is looking we never know the future.
Bankniftyintraday
Bank Nifty Podcast 17 Sep 2024Today, only 1 trade setup was available based on Podcast Strategy.
- When the Podcast entry had come, just before that 5minute candle closed both below and above Opening Price - 52239
- The Data was -ve, and 2 departments were bullish. So again, looked at the strikes 52200 and 52300, where Put writers increased to give momentum toward 52400.
- The stoploss was hit, as call writers increased at the strike 52300.
Notes:
- Simultaneously, a selling strategy was executed based on Price Action, which gave 0.5% return on the capital.
Nifty Bank Index AnalysisHere’s a summary of the key points and analysis:
Trend Analysis:
The chart shows a previous bearish trend that appears to be reversing or entering a consolidation phase.
There are multiple points marked as "BOS" (Break of Structure), indicating changes in market direction.
The recent candles indicate a potential uptrend with higher lows being formed.
Fibonacci Retracement:
Fibonacci levels are drawn from a recent low to a recent high, showing key levels of potential support and resistance.
The 0.5 (51,479.30) and 0.618 (51,723.25) Fibonacci levels are crucial as they often act as significant support/resistance areas.
The price currently seems to be testing the area between the 0.5 and 0.618 levels.
Projected Move:
The chart outlines a bullish scenario with price expected to move higher, potentially reaching the 1.618 Fibonacci extension level at 53,790.75.
This projection is based on a strong break above the current resistance zones.
Resistance and Support Zones:
There are highlighted red zones which indicate strong resistance levels around 52,500 and above.
A blue zone near 50,445.55 marks a significant support level, which could act as a floor if the price pulls back.
Price Action Expectations:
The chart suggests that if the price successfully breaks above the current resistance, it might target higher levels towards 52,513.05 initially and further up to the 1.618 extension level.
However, failure to maintain this upward momentum could see the price revisiting lower support levels.
This analysis outlines a bullish outlook with key levels to watch for both potential resistance and support. The price action around the Fibonacci levels will be crucial in determining the next significant move for the Nifty Bank Index.
Bank Nifty Podcast 29 Aug 2024Only 1 trade was taken.
The trade was based on podcast levels with CE side. The OI data was slightly positive and also 3 departments were "Bullish" from 4 departments of Option Chain.
The risk to reward was 0.66 which qualifies the min. required risk to reward for the podcast setup.
Bank Nifty Podcast 27 Aug 2024Took two trades today.
1st trade was taken with 50% risk which means instead of max loss of 1000, I took only 1 lot with 500 risk. The 50% risk was taken because OI data was completely positive and 4 departments were "Bullish".
2nd trade was taken with maximum conviction as the data was positive and 4 departments were "Bullish", but looks like Bank Nifty had some other plans. The market remained sideways for sometime which resulted in decay in the premiums.
Notes:
- Never take any trade even with 50% risk, because sometimes "No trade is also good trade"
- 2nd trade should have been taken with debit spread as next day is expiry and already Bank Nifty had moved more than 200 points.
Bank Nifty Podcast 23 Aug 2024Total three trades were taken .
1st trade was taken on 5minute timeframe when the candle reverses from the OI line and closed with 1:1 Target
2nd trade was taken on Podcast Setup , closed the trade with stoploss. Although the OI data was positive, but the 4 department was neutral, where 2 department was showing Bullish and 2 department was showing bearish.
3rs trade was again taken on Podcast setup and closed with 1:1 target.
Notes:
- There were 3 trades based on 5minute timeframe from the OI line 51000, but I took only the one before 10AM.
Banknifty_Intraday (11-0Jul-2024)The image displays a 30-minute intraday chart for the Bank Nifty index. Here are the key details:
Date: The data is for July 11, 2024.
Index Levels: The Bank Nifty index is shown at a closing price of 52,217.30, up by 42.90 points.
Technical Analysis Features:
EMA: The chart includes a 20-period Exponential Moving Average (EMA) shown at 52,266.22.
Fibonacci Retracement Levels: Notable Fibonacci retracement levels from recent peaks and troughs are marked, with specific levels labeled such as 0.751, 0.799, 0.94, and 1.003.
Trading Signals:
-Buy Signal: A green arrow suggests buying above 52,350 with a target of 53,700+.
-Sell Signal: A red arrow indicates selling below 52,000 with a target of 52,000 or lower.
Banknifty Intraday (04-Jul-2024)Chart for the Nifty Bank Index on a 15-minute timeframe for July 4th includes the following key changes and details:
-Buy Above 53250 with a target of 53600+.
-Sell Below 52800 with a target of 52400-.
-Current price remains around 53042.15.
Key support and resistance levels:
-Resistance around 53213.55.
-Support around 52810.25 and 52395.60.
The 20-period Exponential Moving Average (EMA) is displayed at 53020.90.
This chart provides updated trading levels for entering buy or sell positions, adjusting the targets based on the latest price movements and technical analysis.
BankNifty Levels For 01/07/24According to the research i've done, market is most likely to open upside and go up as market has the support of supertrend along with RSI under 20, but in other situations If it comes downside It will have to suffer through a great support of level 51950 - 52000, if it breaks down this support it can go further downside. The other scenario can be that the market touches 53200 and comes back downisde, with the highest chances of happening, in the last scenario it can break through 53200 and go further upside till 53500 or even 54000. Hope It Helps :)
1 JULY 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSGood Morning everyone,
According to the data today market is going to open gap down
Focus to buy above 52000 if sustain above 52000 focus for reversal
After A gap down opening if Banknifty sustains Above 52000 and takes Support from 52000 then open target for T1-52200, T2-52300,T3-52500
If the Banknifty gap down opening sustains Below 51900 and takes resistance below 51900 then the open Targets for T1-51800, T2-51700,T3-51500
Major Levels 52200,51900,52400
If the market stands in this area of 52000 to 51900 then it is possible that even today the market will remain in the range.
25 JUN 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open a gap down
After A gap down opening if BankNifty sustains Above 51200 and takes Support from 51200 then open target for T1-51400, T2-51500,T3-51600
If the BankNifty gap down opening sustains Below 51200 and takes resistance below 51200 then the open Targets for T1-51100, T2-51000,T3-50900
Major Levels 51500,51600,51700
If the market stands in this area of 51400 to 51600, then it is possible that even today the market will remain in the range.
Banknifty Intraday Levels: 24-Jun-24 Banknifty closed at crucial level make or break point 52000 strong resistance Zone sustain above 52000 expected bullish momentum and breakout of Trendline retest the resistance Zone then it bearish momentum expected below 51370
Before any entry take other confirmation by adding indicators or your strategy.
21 JUN 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open a gap up
After A gap up opening if BankNifty sustains Above 51500 and takes Support from 51500 then open target for T1-51600, T2-51700,T3-51900
If the BankNifty gap up opening sustains Below 51500 and takes resistance below 51500 then the open Targets for T1-51300, T2-51200,T3-51000
Major Levels 51500,51400,51600
If the market stands in this area of 51500 to 51800, then it is possible that even today the market will remain in the range.
20 JUN 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open a gap up
After A gap up opening if Banknifty sustains Above 51000 and takes Support from 51000 then open target for T1-51200, T2-51400,T3-51500
If the Banknifty gap up opening sustains Below 51000 and takes resistance below 51000 then the open Targets for T1-50800, T2-50700,T3-50600
Major Levels 51000,51200,50800
If the market stands in this area of 51000 to 50800, then it is possible that even today the market will remain in the range.
19 JUNE 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open gap up
Focus to buy above 50200 if sustain above 50100 focus for short selling
After A gap up opening if Banknifty sustains Above 50200 and takes Support from 50200 then open target for T1-50400, T2-50500,T3-50700
If the Banknifty gap up opening sustains Below 50200 and takes resistance below 50200 then the open Targets for T1-49900, T2-49800,T3-49700
Major Levels 50200,50300,50100
If the market stands in this area of 50000 to 50200 then it is possible that even today the market will remain in the range.
Was never with the bears.Bank Nifty was never bearish the whole time. There is every possibility that 49300 will be protected this week. Every dip in the morning should be seen as a chance to buy calls. Unless some extraordinary selling comes in the market, Bank Nifty should either consolidate or fly. The only negative is the bearish day candle formed yesterday. The top of which will be the SL for Call writers.
[INTRADAY] #BANKNIFTY PE & CE Levels(15/04/2024) Today will be gap down opening in BANKNIFTY. After opening if banknifty start trading below 48450 level then possible downside rally of 400-500 points upto 48050 Level & this rally can can extend another 400 points if market gives breakdown 47950 level in todays session.Any Major upside only expected in case banknifty starts trading above 48550 level to 48950 level.
10 APRIL 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open gap down
Focus to buy above 48500 if sustain above 48400 focus for short selling
After A gap down opening if Banknifty sustains Above 48600 and takes Support from 48600 then open target for T1-48700, T2-48800,T3-49000
If the Banknifty gap down opening sustains Below 48400 and takes resistance below 48400 then the open Targets for T1-48300, T2-48200,T3-48100
Major Levels 48500,48600,48800
If the market stands in this area of 48600 to 48800 then it is possible that even today the market will remain in the range.