BANKNIFTY ANALYSIS FOR MONDAY 5TH JUNE-FOR EDUCATION PURPOSE
BANKNIFTY ANALYSIS FOR MONDAY 5TH JUNE-FOR EDUCATION PURPOSE
BANKNIFTY:-
Monthly target:-
If Banknifty sustain the level of 44500 in one or two week ,45000 level can be achieved.
If Banknifty break down 44500 spend time below it and break 43950 then 42600-42800.
WEEKLY TARGET:-
If Banknifty sustain the level of 44000 BREAK 44150 ,44250-44350-44500 level can be achieved.
If Banknifty break down 44000 and break 43950 spend time below then 43850-43750-43650-43550.
DAILY TARGET:-
If Banknifty sustain the level of 43950 THEN44050-44150-44250 level can be achieved.
If Banknifty break down 43950 and break 43850 then 43750-43650-43550
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02/06/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys,
Good Morning everyone,
According to the data today market is going to open Gap-up
After A Gap-up opening if Banknifty sustain Above 44200 and taking Support from 44200 then open target for T1-44400,T2-44600,T3-44800
If the Banknifty after a Gap-up opening sustain Below 44000 and taking resistance below 43800 then the open Targets for T1-43600,T2-43400,T3-43200
Major Levels 44000,43800,44200
BANK NIFTY/NIFTY ANALYSIS FOR FRIDAY
NIFTY |BANKNIFTY|NIFTY ANALYSIS | BANKNIFTYANALYSIS FOR FRIDAY
| nifty analysis for tomorrow | #niftypredictions | nifty live trading |Nifty50
BANKNIFTY:-
If Banknifty sustain the level of 43750 and spend time and break 43850, then 43950-44050
If Banknifty break down 43750 spend time below it and break 43650then 43550-43450
NIFTY:-
If Nifty sustain the level of 18450 and spend time and break 18475 then 18500-18525
If Nifty break down of 18450 spend time and break down 18425, then Nifty 18400-18375.
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor.
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6/01/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEAccording to the data, No bullish trend is going to come until the talk market breaks the level of 44500 and does not sustain above.
And if you seen, there is a big support zone of 43600, 43400 and 43800
From my point of view, banknifty is moving upwards from the close support of 43800, if today it breaks 44500, then a big bullish move can be seen in Banknifty.
If today doesn't break 44500 then market can stay in range
BANKNIFTY TRADE SETUP 01 JUNE THURSDAY
Date : 01 JUNE 2023
Buy Above 44400 (WITH SMALL QUANTITY)
For Large Move Buy Above 44500 (WITH FULL QUANTITY)
Sell Below 43970 (WITH SMALL QUANTITY)
For Large Move Sell Below 43822 (WITH FULL QUANTITY)
RESISTANCES AT UPPER LEVEL
R1 : 44499
R2 : 44766
R3 : 44855
SUPPORTS AT DOWN LEVEL
S1 : 43588
S2 : 48455
S3 : 48322
30/05/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONE
Hello Guys,
Good Morning everyone,
According to the data today market is going to open Flat
After A Flat opening if Banknifty sustain Above 44500 and taking Support from 44500 then open target for T1-44700,T2-44900,T3-45000
If the Banknifty after a Flat opening sustain Below 44000 and taking resistance below 44000 then the open Targets for T1-43900,T2-43800,T3-43700
Major Levels 44000,44200,44500
If the market remains in the range of 44000 to 44500, then it is possible that even today the market will remain in the range.
29/05/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys,
Good Morning everyone,
According to the data today market is going to open Gap-Up
After A Gap-Up opening if Banknifty sustain Above 44200 and taking Support from 44200 then open target for T1-44400,T2-44500,T3-44600
If the Banknifty after a Gap-Up opening sustain Below 44000 and taking resistance below 44000 then the open Targets for T1-43900,T2-43800,T3-43700
Major Levels 44000,44200,43500
Bank Nifty Trade Setup (26-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup.
Picture is worth a thousand Words as from the chart Bank Nifty is moving between 751 points from 11th May and if traded with patience and with proper trade setups one can make profits.
This will be my Trade Setup for Tomorrow:
From price action we can see price is moving in Horizontal Channel and Today it made lows and took support near same zone which is previously tested as long as price don't don't this zone we have to trade within this range of 770 points. Setup will be
1.) If it opens flat nearby support is 43633 if it sustains this support on 15 mins then will look for CE Buy for nearby resistance which is placed at 43756 and then 43830.
2.) If gap down will look for price to take support at same support zone where it took support today or it's same as Today's low. and will take CE Trade from that level.
3.) If opens gap up then i will look at resistance which is 43756 and 43830 then i will look for PE Trades for nearby support zone or CPR levels.
Views are on long trade if it respects this channel.
maybe we can see break above this channel on last monthly Expiry :)
Hit like to keep me motivated for keeping my trading journal also if you can help as Trading View is holding rewards if Ideas or Script can be listed in Editor Picks :) . also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
26/05/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys,
Good Morning everyone,
According to the data today market Flat is going to open
After A Flat opening if Banknifty sustain Above 43700 and taking Support from 43700 then open target for T1-43900,T2-44000,T3-44100
If the Banknifty after a Flat opening sustain Below 43700 and taking resistance below 43700 then the open Targets for T1-43600,T2-43500,T3-43400
Major Levels 43600,43500,43700
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
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.
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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
BANKNIFTY ANALYSIS FOR WEDNESDAY 24TH MAY FOR EDUCATION PURPOSE
If bank nifty sustain the level of 43950 and spend time and doesn’t break 43850, then 44050-44150-44200
If bank nifty break down of 43950 spend time and break down 43750, then bank nifty 43650-43550-43450.
This video is for educational purpose and my personal view .
Kindly take the trade according to your risk and reward position and consulting your advisor.
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.
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,
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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.
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