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Bankniftyview

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. -------------------------------------------------------------------------------------
NSE:BANKNIFTY
by IIT-Trader
2
22/05/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONE Hello Guys, Good Morning everyone, According to the data today market Flat is going to open After A Flat opening if Banknifty sustain Above 44200 last day high above and taking Support from 44200 then open target for T1-44300,T2-44400,T3-44500 If the Banknifty after a Flat opening sustain Below 43500 and taking resistance below 43500 then the open Targets for T1-43400,T2-43200,T3-43000 If the market remains in the range of 33500 to 44000, then it is possible that even today the market will remain in the range. Major Levels 44000,43800,43500
NSE:BANKNIFTY
by mr_bull10
BANKNIFTY--Enters in to Consolidation ??----------->>the stock is trending upwards in daily time frame. now the price is facing resistance 44000 levels. ------------>> We will wait for the price to break the range for confirmation of the trend of bank nifty, still it is in bullish trend. ------------>> Yesterday the price is in ranging. ------------>> the previous supply zone@43900-43850 clearly resisting the price to go down. ------------->> the previous demand zone @43450-43400 level failed to take the price above 44150 levels. ------------->>If price clears both these supply and demand zones , price heavily falls below 43400 levels and reach to 43100-43000 levels. ------------->> Keep track these zones, will the range be broken or not. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- If price breaks 44150 levels, we will observe again bullishness in bank nifty will take to new levels. be careful here false breakouts may happen at these levels. Now the plan C is working, may plan B also be possible. Manipulation and turning back again to below.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY--Bearish or Bullish??The demand zone @ 43900 acts as supply zone and price falls back, below 43900 levels. the previous demand zone @ 43450 level acts as support again and price moved back to the supply zone created at 43850 levels. @this level previously a strong sell off is observed, after strong sell of price is consolidated and moved up again. while breaking this area we will again see some consolidation, if price opens still in this range, consolidation to downside is observed. if 43900 -43850 level acts as resistance price will fall back to below 43300 levels. key level of support 43100-43000. Note:: In Higher time frame still the trend is uptrend.. keep in mind, this is the phase to observe if it is a bearish turn or bullish again . As a expiry today, price is still in the range 43300 - 43850 range.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY--PlanA Or PlanB Or PlanC ??Observations: NSE:BANKNIFTY price is clearly in a range between the demand zone and supply zone. its clearly a range bound market. we are still in the uptrend only, in bank nifty ,no sign of bearishness in the market at all time high also. price broken the demand zone at 43950,closed above the demand zone. and tested the supply zone forms at 44120 levels. now we cannot decide the momentum of the bank nifty until further price action is to be identified. If supply zone breaks and showing some sign of bullishness, we need to aware that at ATH we can expect a falls breakout moments as well @44150 levels. price showing bearishness but it will not create any fresh lows. until it creates a fresh lows keep in the same direction of market trend. Note:: price is below Supply zone, price clears demand zone, as per the trend we need to listen to market momentum, its clearly in uptrend. Price at any moment can its change its direction from bearish to bullish, as higher time frame is bullish. Plan A:: Breakout continuation Plan B: Fake Breakout. Plan C:: Gap down and reversal to supply zone and falls back.
NSE:BANKNIFTY
by IIT-Trader
2
BANKNIFTY--Last push towards 44K or 1 left ??Observations:: ---------->> the previous supply zone clearly resisting the price to go down , witnessed buyers succeed this time to take the price to higher levels. ---------->> Hence the price is closed @43900 levels. If tomorrow price breaks 43400 level, we will observe a strong fall towards 43000,43100 levels ---------->> we have an untested demand zone @42200 will push the price upwards again to 43400 or 43600 (this will resist the price to upside again) gives pullback. ---------->> Be careful at 43000-43100 levels. -------------------------------------------------------------------------------------------------------- consolidation + up move = fall again ,if price opens ((or falls)) below 43600 levels, look for sell opportunity at 43400 to 43600 levels.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY - Approaching Lifetime High, Potential Rally AheadBANKNIFTY is currently trading higher and higher, having crossed multiple price hurdles and achieving its highest closing in the past week. The price is now very near to its lifetime high. If the price closes above the level of 43855 on the daily chart, we may see a rally towards positional targets of 44222, 44444, and 44888. This could be an awesome opportunity to profit from the market. The levels of 43222 and 42500 are key support levels for the price. If the price drops down towards the downside, these levels may play an important role in pushing the price towards the upside.
NSE:BANKNIFTYLong
by Jha_Nidhi
BANKNIFTY--Bearish Turn or Bullish ??Observations:: ---------->>Price opened gap up and observed a strong fall with consolidation. ---------->> the previous supply zone clearly resisting the price to go down, witnessed buyers failed to take the price to higher levels. ---------->> Hence the price is still closed in the range of 43600-43400. If tomorrow price breaks this level, we will observe a strong fall towards 43000,43100 levels, if price again breaks 43000 levels, 42850 level acts as a pullback to 43000-43100 level, at this level previously strong sell off is observed, here(43000-43100) if again strong push to the down side happens price falls below 42850,up to 42400 levels. ---------->> we have an untested demand zone @42400 will push the price upwards again. ---------->> Be careful at 43000-43100 and 42500-42400 levels. -------------------------------------------------------------------------------------------------------- consolidation + gap = fall again ,if price opens above 43600 levels, look for sell opportunity at 43800-43900 levels.
NSE:BANKNIFTYShort
by IIT-Trader
BANKNIFTY--Expiry above 43600 or below 43000 ??Observations: BANKNIFTY--showing bearish pressure after opening gap up, falls below 43000, clearly showing 43000 is not a support ,with the help of 43000 price again tested the supply zones @43500-43600. ----------->>If tomorrow again showing bearish pressure @43600 levels, go for selling below 43350 levels for target of 43000,42850,42500 levels. ------>> Price range between 43600 below and 43850 levels. ----------------------------------------------------------------------------------------------- If price consolidates between 43400-43600 levels, price will go up.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY-- If 43400 resist,43000 will acts as Support?? Observations: ------->>After A strong fall price showing bullish movement towards 42400 levels, -------->>Previous strong resistance @42700 acts as support and showing bullish pressure towards 43000,43400 levels. ------->> If 43400-43350 level acts as Resistance(Previous Demand Zone) price will again fall from this level. --------->>previously Strong rise happens from @43400-43350 levels, also be careful at this level before long will again see some bearishness in this zone. note: Tomorrow mostly price consolidates between these 2 levels. If 43350-43400 level acts as resistance ,and the zone @43000-43100 previous resistance(If turned to support),then only price is bullish again. If 43000 level failed to acts as support, price again fall back to below 42700 levels . Careful at these levels.
NSE:BANKNIFTY
by IIT-Trader
2