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Bankniftylevels

A steeper slope to climb!The "Channel bottom visit" we were referring to a few days ago, is done and the Level we marked " TO be protected" on 2nd May has been visited and protected (No close below that). We got the ritualistic bounce off there and now what ? The way back up to the top of the channel is not going to be an easy one and looks less probable. Was this bounce, induced by Amit Shah? If so, Banks will need a reason better than that to sustain the upward momentum. Not able to look up as of now. Shorting on upticks would be my mindset going into trade today.
NSE:BANKNIFTYShort
by OldMonk13
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
BANKNIFTY Trading StrategyThe trading setup for Bank Nifty on the daily timeframe suggests an investor buying zone ranging from 45,800 INR to 46,100 INR. This range indicates a level where significant buying interest has historically been observed, potentially acting as a support zone for the index. Additionally, on the 4-hour timeframe, a fresh buying zone is identified between 46,600 INR to 46,800 INR. This zone represents a recent area where buying pressure has emerged, indicating potential renewed bullish momentum for Bank Nifty. The trading strategy includes setting a target of 260 pips, which equates to approximately a 6% gain. This target suggests the anticipated upside movement in Bank Nifty from the identified buying zones to the desired profit level. Furthermore, the importance of risk management is emphasized in the setup. Managing risk involves implementing measures such as setting stop-loss orders to limit potential losses and controlling position sizes to mitigate risks. Traders are encouraged to adhere to their risk management strategies diligently to protect their capital and minimize potential downsides. Lastly, an open invitation is extended to address any confusion that traders may encounter. Clear communication and support are essential for traders to understand and execute the trading setup effectively. By providing assistance and clarification, traders can navigate the market with confidence and enhance their chances of success.
NSE:BANKNIFTYLong
by MOAZAM1133