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Bankniftytrading

BANKNIFTY AnalysisObservations:: ----->>Look BANKNIFTY yesterday taken the support from trendline and showing bullishness. the price is completely trading in a range of previous day bearish candle. If this continue to move upside will observe a bearish gap be filled. If price breaks the trendline, we have strong support @ 43400 level, may again push the price upside. Keep watch this level. Sell Plan:: If price breaks the low @43700 level, and gives us pull back will go for short until 43400 levels. Buy Plan:: If price breaks yesterday high, we have an immediate resistance @44200 range, which is difficult to enter for long, until this breaks. If price breaks this range and gives us pullback will enter long, for target of bearish gap. If we use Fibonacci levels, if we draw it from previous low to high, which is exactly @ 0.6-0.5 range only. still the price is in uptrend only, no sign of bearishness. will be on buyside from 43400 level, until it breaks. If price is again consolidation at 43700-43400, price have a chance of breaking downwards, wait until it breaks strongly. If price not break this level, enter for long on retracement. draw trendline on the opposite side as well, then only look for buyside confirmation.
NSE:BANKNIFTY
by IIT-Trader
06/06/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys, Good Morning everyone, According to the data today market is going to open Gap-Down After A Gap-Down opening if Banknifty sustain Last day Above 44300 and taking Support from 44300 then open target for T1-44400,T2-44500,T3-44600 If the Banknifty after a Gap-Down opening sustain Below 44200 and taking resistance below 44200 then the open Targets for T1-44000,T2-43800,T3-43600 Major Levels 44000,44300,44200 If the market stande in this area of 44200 to 43800, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTYLong
by mr_bull10
05/06/2023 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,T2-44500,T3-44600 If the Banknifty after a Gap-up opening sustain Below 43800 and taking resistance below 43800 then the open Targets for T1-43600,T2-43400,T3-43200 Major Levels 44000,43800,44200 If the market remains in the range of 44200 to 43800, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTY
by mr_bull10
Bank Nifty Trade Setup (30-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. So today with big gap up opening price moved between 290 points and price action stayed sideways for almost all day. I avoided trading today because as per my trade setup i wait for 1st 15 min candle. on 5 min TF i could have scalped but i am avoiding it as i always faced losses in scalping sometimes due to broker end or sometimes trade execution. so i will only try to trade on those days where there is good market trend. Now which was resistance zone of 800 points from past 2 weeks broke today and price sustained above that zone today. Now as per change of polarity zone which was one resistance becomes support. Now 44151 will act as good support. For tomorrow setup: 1.) If it opens flat and price sustains for 1st 15 min then will look for buying opportunities for target of Today's High (44483) , 44500. If price doesn't sustains then will look for shorting opportunities for target of 44151. 2.) If opens gap up then will wait for price action to form and if price rejects today's high (44483) then will look for shorting opportunities. 3.) If opens gap down then will look for support 1st which is placed at 44197 (Today's Low) then 44151. If price takes support there and move upwards then will look for buying opportunities for target of Today's High(44483). Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. Also one can comment on how I can make this trade journal better any improvements I need in it :) .
NSE:BANKNIFTYLong
by TradeInsights
BANKNIFTY--Fakeout or Breakout ??Observations:: ----->> After breaking the trendline, price tested the Resistance zone, price is fall from resistance but not able to break the last HL, @ 43400 Level. Again a strong buy ness is observed from these level. Price is in consolidation @ Resistance and Support and not able to break any previous higher low, and previous Higher High now its clear showing strong bullishness, we are still in bullishness its confirmed + In Bullish consolidation between the Support and Resistance. see the below picture, If it's a Rally--Base--Rally, we will go for buying up to 45000 we have 2 possibilities, If price breaks HH @44150 levels, Breakout happens and price falls immediately below the 44150 levels is may happens, called fake breakout. If price consolidate between Supply zone 43900-43850 @ and supply zone @44080-44150, and breakout happens consider it as a fake out and we wait for the break out. If price comes below to these levels, @43650 demand Zone and 43400 demand zone, if price consolidates in these two zones and gives us a breakdown will wait its a fake breakout or breakdown possibility. we have to check all these conditions in Range bound market. In between we have a common point zone @43800-43850 that will back to the supply zone again. The same zone @43800-43850 will pushes the downside as well. All these are range bound Scenario's, look @ all these possibilities.
NSE:BANKNIFTY
by IIT-Trader
1
Bank Nifty Trade Setup (29-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. As posted in previous day setup that from price as Banknifty is in parallel channel with 44151 to 44071 as resistance zone and 43470 to 43370 as support zone and on 26-May-2023 price was near support zone after a sell off in previous sessions and it took support near that support zone and moved all the way up to resistance zone moving almost 400 points in a day. so far it was a good session and worked as per trade setup. ( Cannot post previous day chart to keep record of this price action have to look for previous day trade setup.) For tomorrow this will be my trade setup: 1.) If opens flat which is near resistance zone. if price doesn't hold near this resistance on 15 min TF then will look for selling after break of nearby support of 43880. If price took support on break of this resistance zone i will look for buying. (Views are bullish so will only trade against the primary trend with strict stop loss and target levels. 2.) If opens gap up above resistance zone and if takes supports above the resistance zone on 15 min TF with good candle pattern and volume. then will look for buying only for target will be open with stop loss of 44151 (ATH). 3.) If opens gap down at nearby support 43880 will look for price to take support or if it became resistance and target will be as per this parallel channel support zone which is 43750, 43650 and 43500. Things to keep in mind: As mentioned above views are bullish so will trade cautiously against the primary trend with strict stop loss and target level on downside. Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. also one can comment how i can make it better or need any improvements in my trading setups and improving this journal. as this is my only trading journal not keeping any excel or any online sheets as i never used before.
NSE:BANKNIFTYLong
by TradeInsights
BANKNIFTY@ Breakout or Consolidation??observations:: --------->>Price is still in the range only, 44200- 43600 range only. we cannot predict the next momentum until price breaks this range. ------->>until keep in the buy side from 43400 and sell side from 44200 levels. Use the principle range bound market, buy @ support and sell @ Resistance. If we see the same chart in different way it looks like this, Broken the trendline and retest of the trendline and falls below the resistance. again rise from the support @43400 levels. Until price breaks out of the range, we can clearly consider the BANKNIFTY is bullish in higher timeframes. so we are looking for buy opportunities only. If we see clearly today price exactly closed @ resistance previous support may acts as resistance, and if price falls to below levels @43400 again will go for buying, because price is in range, for target of 44200 only. if price breaks and gives retest will go for sell. Fake breakdowns and fake breakout may also happen.
NSE:BANKNIFTY
by IIT-Trader
1
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--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