Bank Nifty forming Doji/Spinning top at all time high levels!!! After reaching all time high with the support of results, bank nifty look like forming dojo/spinning top at these levels.
This is made strong in weekly chart as it has formed at top of a rally and close to all time levels.
Similarly HDFC, ICICI, Kodak doesn’t look positive on weekly chart either
Bankniftyview
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.
17/05/2023 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 442000 last day high above and taking Support from 44200 then open target for T1-44300,T2-44400,T3-44600
If the Banknifty after a Gap-Down opening sustain Below 43800 and taking resistance below 43800 then the open Targets for T1-43600,T2-43500,T3-43400
Major Levels 44000,43800,43500
BANKNIFTY ANLALYSIS FOR WEDNESDAY 17TH MAY FOR EDUCATION PURPOSE
If bank nifty sustain the level of 43900 and spend time, then 44000-44100-44150-44200-44250
If bank nifty break down the support level of 43900and spend time, cross down 43700 then bank nifty 43600-43500-43400
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--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.
15/05/2023 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 43900 and taking Support from 43900 then open target for T1-44000,T2-44200,T3-44400
If the Banknifty after a Gap-Down opening sustain Below 43500 and taking resistance below 43500 then the open Targets for T1-43300,T2-43100,T3-43000
Major Levels 43500,43400,44000
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.
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.
12/05/2023 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 43800 and taking Support from 43800 then open target for T1-43900,T2-44000,T3-44200
If the Banknifty after a Gap-Down opening sustain Below 43500 and taking resistance below 43500 then the open Targets for T1-43300,T2-43100,T3-43000
Major Levels 43500,43100,43800
11/05/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys,
Good Morning everyone,
According to the data today market Falt is going to open
After A Falt opening if Banknifty sustain Above 43700 and taking Support from 43700 then open target for T1-43800,T2-44000,T3-44200
If the Banknifty after a Falt opening sustain Below 43500 and taking resistance below 43500 then the open Targets for T1-43300,T2-43100,T3-43000
Major Levels 43500,43400,43600
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.
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.
10/05/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys,
Good Morning everyone,
According to the data today market Falt is going to open
After A Falt opening if Banknifty sustain Above 43500 and taking Support from 43500 then open target for T1-43600,T2-43700,T3-43900
If the Banknifty after a Falt opening sustain Below 43100 and taking resistance below 43100 then the open Targets for T1-43000,T2-42900,T3-42800
Major Levels 43500,43400,43200
BANKNIFTY ANLALYSIS FOR WEDNESDAY 10TH MAY FOR EDUCATION PURPOSE
If bank nifty sustain the level of 43500 and spend time then 43650-43750-43850-43950
If bank nifty break down the support level of 43200 and spend time, then bank nifty 43000-42900-42800-42700
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.
09/05/2023 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 43400 and taking Support from 43400 then open target for T1-43500,T2-43600,T3-43700
If the Banknifty after a Gap-Down opening sustain Below 43200 and taking resistance below 43200 then the open Targets for T1-43100,T2-43000,T3-42800
Major Levels 43300,43400,43200
BANKNIFTY ANLALYSIS FOR TUESDAY 9TH MAY FOR EDUCATION PURPOSE
If bank nifty sustain the level of 43200 then 43350-43450-43550-43650
If bank nifty break down the support level of 43200, then bank nifty 42900-42800-42700-42600
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--42700-42650 acts as Support??Observations:
After A strong fall price mostly enters into consolidation stage.
Previous strong resistance @42700 broken and showing bullish pressure towards 43000,43600 levels.
(Price broken the 42700-42650 zone to downside and closes inside this zone.)
If the same level acts as support price will again rise from this level,
Strong fall happens from @43200-43100 level also be careful at this level before long will again see some bearishness in this zone.
Try to be on the long side from 42700-42620 levels to reach 43000-43200 levels.
Go long:
Above 42850 to reach 43000,43100 levels.
Short: Don't think of Short now. be on short side from 43200 levels up to 42850,42700 only.
price breaks 42620 and gives retest go short for 42400 levels.
08/05/2023 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 42500 and taking Support from 42500 then open target for T1-42700,T2-42900,T3-43000
If the Banknifty after a Gap-Up opening sustain Below 42500 and taking resistance below 42500 then the open Targets for T1-42400,T2-42200,T3-42000
Major Levels 42500,42600,42700
BANK NIFTY ANALYSIS FOR 8TH MAY FOR EDUCATIONAL
If bank nifty sustain the level of 42500 then 42750-42850-42950-43050
If bank nifty break down the support level of 42500, then bank nifty 42400-42300-42200-42100
America adage in Wall Street
Bull make money, Bear make Money, Pig get slaughtered(A retail investor)
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.
05/05/2023 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 43500 and taking Support from 43500 then open target for T1-43700,T2-43900,T3-44000
If the Banknifty after a Gap-Down opening sustain Below 43200 and taking resistance below 43200 then the open Targets for T1-43000,T2-42800,T3-42700
Major Levels 43000,43200,43500
BANKNIFTY--Bullish again from 43500??Observations:
------->> We have a Untested Supply zone @43800-43900 level , price have to give respect to this level. Keep long until this level only.
--------->>BANKNIFTY again showing bullish pressure at the end of the session, and broken the previous resistance @43500-43600 level , if this level which is previous Resistance if acts as support price is bullish up to 43800-43900 level only.
--------->>Go Long :
If price comes back to 43500, go long for targets of 43800-43900 level.
Price reversal from this zone(43800-43900) but overall momentum is still positive only, wait until further price action to be noticed.
Gap downs may also occur at this level be careful here.
Short : Don't think of short now, look for buy @43500-43600 level.
Until price breaks 43500-43460 level, and the same level acts as resistance then only we have a sell possibility. Keep on long from 43500 to 43900 level.