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Bankniftyintradaylevels

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.
NSE:BANKNIFTYLong
by mr_bull10
19 MARCH 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys, Good Morning everyone, According to the data today market is going to open gap down After A gap down opening if Banknifty sustains Above 46400 and takes Support from 46400 then open target for T1-46500, T2-46700,T3-46800 If the Banknifty gap up opening sustains Below 47000 and takes resistance below 47000 then the open Targets for T1-46800, T2-46500,T3-46400 Major Levels 46500,46700,46800 If the market stands in this area of 46500 to 466700 then it is possible that even today the market will remain in the range.
NSE:BANKNIFTY
by mr_bull10
BANKNIFTY--Head & Shoulders ??BANKNIFTY index is at important zone of resistance. price filled the bearish Gap at 48100 levels.. on bottom side price by consolidating above the major trendline, price tested the zone of resistance at 48100. this is the time to look for bearishness or Bullish continuation. Price is at Major zone of resistance.. This is one more crucial phase to continue or reversal. Head :: Consider the price movement above 47400 as Header section. Left shoulder :: Left shoulder is already confirmed at 47400-47200 levels. Right Shoulder:: wait for the price to form a right shoulder... near the 47200 levels... Neckline:: Neckline is already located at 45600 levels. wait for the price to break the neckline or reversal from from neckline and gives us retracement to enter short side by keeping the SL at above the Left shoulder(NOW), also a right shoulder later, just wait for confirmation. ------------------------------------------------------------------------------------------------------ Until price breaks the left shoulder keep in long side. If left shoulder will push the price up or Not. so wait for the price reaction at that levels.
NSE:BANKNIFTYShort
by IIT-Trader
11
BANKNIFTY--Bullish Setup??Bank nifty taken the liquidity below the 47200 levels... on bottom side we have a strong bullishness observed by breaking the trendline @46800 levels, now price is on its way to test this zone of support. this is the only zone that can push the BANKNIFTY further upside... keep in long side as long as price is above this levels. on the other hand, IF price failed to breaks the NECKLINE or failed to create the right shoulder price will again test the ATH levels. this is the only short cut way to reach the ATH again.
NSE:BANKNIFTYLong
by IIT-Trader
9
Banknifty Prediction for tomorrow 11 Mar (Monday)Hello traders, As we discussed in our last analysis, the market took resistance from the resistance zone, and the result was sideways. If we look at the chart data now: The market is taking resistance at 48119. (Why this resistance looks like my last bank nifty analysis). The market is trading at the resistance zone right now. Also, there has been a good momentum without consolidation. There can be a fallback till 47230 or 200 EMA. There are multiple support points lower side -> 200 EMA, Price action support, Fibonacci 0.38 Level. If we look at the OI data: PCR = 0.88 shows bullish sentiments. But if. we look at the change from the previous day, 1.28 - 0.88, it shows bears are continuously increasing their position in the market. Also, there has been a Huge surge at 48000 CE OI, which is going to provide good resistance. FII and DII data do not show much of the information except that the market might open a small gap-down. I am expecting the market to get consolidated. Case 1 : Market takes fallback till 200 EMA. Case 2: Market consolidation in the range 47750 - 48119. Reasons: Price taking support 47750 & resistance at 48100. which might lead to sideways behavior. RSI < 50 falling shows weak bulls. That might lead to a fall if RSI goes below 40. RSI is having hidden bullish divergence. RSI is making LL, and the price is making HH. PCR change from 1.28 - 0.88 shows strong power of Bears. Also, there is less PE writing than CE writing. Verdict : The market is in consolidation mode. Sideways or Bearish Plan of action: Case 1: Sell 47700 CE (Hedge it with 20 rs CE). Case 2 : Iron condor in range 47750 - 48119.
NSE:BANKNIFTYShort
by finnova_
BANKNIFTY--S/R Levels??I am sharing the important levels of Support and Resistance. These levels plays a crucial role in trading decisions, as they act as reliable markers of price movements. ------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further. ---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher. Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies. ------------------------------------------------------------------------------------------------------------ keep in long side as long as price is above the trendline. will go for short once price breaks and retest of trendline.
NSE:BANKNIFTY
by IIT-Trader
2
BANKNIFTY--Rally Base Rally or Reversal??A strong bullish momentum is observed from double bottom levels, now price is near to the previous strong resistance area, if these resistances acts as support then only will see an upside momentum...if they failed to push, it will continue its momentum towards below levels... CASE 1:: Rally Base Rally If it is a rally base rally price will take the support of 45600 levels...and it will continue to move upside above 47600 levels. keep an eye on trendline, if breaks will look for long on retracement. Case 2:: Reversal If we observe a consolidation on bottom side @ double bottom levels.. it will go down and reversal may happens from 44000 levels...
NSE:BANKNIFTY
by IIT-Trader
5
BANKNIFTY--@Trendline Resistance??BANKNIFTY Index is showing bearishness from 47200 levels... On top side price created a trendline...now until price breaks the trendline keep ur view to short only.. failed to consolidate on topside..to move upside.. so its time to look for short near the trendline... tomorrow chance of upside and test the trendline and again turned to bearish again... to grab the liquidity below the demand zones. on bottom side we have supports at 46200 and 45800 levels wait for the price to come to these zones, enter here to continue long side again.
NSE:BANKNIFTY
by IIT-Trader
6