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Nifty Bank Index AnalysisHere’s a summary of the key points and analysis: Trend Analysis: The chart shows a previous bearish trend that appears to be reversing or entering a consolidation phase. There are multiple points marked as "BOS" (Break of Structure), indicating changes in market direction. The recent candles indicate a potential uptrend with higher lows being formed. Fibonacci Retracement: Fibonacci levels are drawn from a recent low to a recent high, showing key levels of potential support and resistance. The 0.5 (51,479.30) and 0.618 (51,723.25) Fibonacci levels are crucial as they often act as significant support/resistance areas. The price currently seems to be testing the area between the 0.5 and 0.618 levels. Projected Move: The chart outlines a bullish scenario with price expected to move higher, potentially reaching the 1.618 Fibonacci extension level at 53,790.75. This projection is based on a strong break above the current resistance zones. Resistance and Support Zones: There are highlighted red zones which indicate strong resistance levels around 52,500 and above. A blue zone near 50,445.55 marks a significant support level, which could act as a floor if the price pulls back. Price Action Expectations: The chart suggests that if the price successfully breaks above the current resistance, it might target higher levels towards 52,513.05 initially and further up to the 1.618 extension level. However, failure to maintain this upward momentum could see the price revisiting lower support levels. This analysis outlines a bullish outlook with key levels to watch for both potential resistance and support. The price action around the Fibonacci levels will be crucial in determining the next significant move for the Nifty Bank Index.
NSE:BANKNIFTYLong
by The90sTraderOfficial
[INTRADAY] #BANKNIFTY PE & CE Levels(27/08/2024)🔔 Bank Nifty Update for Today: 📊 Expected Opening: Opening Level: Slightly flat near yesterday’s close 📈 Potential Upside Movement: Primary Upside Target: 51450+ Extended Upside Target: 51950+ (upon breakout above 51550) Bank Nifty is expected to open slightly flat, near yesterday’s closing level. After the opening, there is a possibility of an upside rally reaching 51,450 or higher. If Bank Nifty breaks out above the 51,550 level, this rally could extend further, potentially reaching up to 51,950. 📉 Support Level: Strong Support: 51000 The 51000 level will act as a strong support for today’s session, providing a key level to watch in case of any downside movement.
NSE:BANKNIFTY
by TradZoo
Bank Nifty Podcast 26 Aug 2024Today, took only 1 trade on long side. There were another trades which came on short side (PE), but the OI data was positive and 2 departments of OI also showed "Bullish" status, so avoided the trades. Notes: - In the podcast strategy, without data the position can be taken but with 50% risk -- Risk option #1 - If you're maximum loss is 1000 for 2 lots, then go for 1 lot -- Risk option #2 - If you're having only 1 lot and max loss is 1000, then either go with debit spread or credit spread.
NSE:BANKNIFTYLong
by gupshupblog
ICICI Bank next week target 1220, 1240, or 1260If you are looking for a good stock for the next week, ICICI Bank can be a best stock on our golden parameters. The stock has moved from downtrend to uptrend according to our parameters on the daily chart, of course the stock is still below the pivot point but the possibility of an uptrend in it cannot be ruled out. The stock closed at an upper level today after the consolidation of the last three weeks. Which can prove to be a better option for the next week.
NSE:ICICIBANKLong
by Sudhir-Sirohi
Bank Nifty Podcast 23 Aug 2024Total three trades were taken . 1st trade was taken on 5minute timeframe when the candle reverses from the OI line and closed with 1:1 Target 2nd trade was taken on Podcast Setup , closed the trade with stoploss. Although the OI data was positive, but the 4 department was neutral, where 2 department was showing Bullish and 2 department was showing bearish. 3rs trade was again taken on Podcast setup and closed with 1:1 target. Notes: - There were 3 trades based on 5minute timeframe from the OI line 51000, but I took only the one before 10AM.
NSE:BANKNIFTYShort
by gupshupblog
[INTRADAY] #BANKNIFTY PE & CE Levels(21/08/2024)🔔 Bank Nifty Update for Today’s Expiry Session: 📈 Gap-Up Opening Expected: Expected Opening Level: Near 51000 Key Level: 51050 Potential Upside Target: 51450+ Today, Bank Nifty is anticipated to open with a gap up near the 51000 level. If the index sustains above this level after opening and starts trading above 51050, we could see a strong upside rally of 400-500 points, potentially reaching up to 51450+ during today’s expiry session. 📉 Watch for Downside Risks: Critical Reversal Level: 50950 Support Level: 50550 Major Downside Level: 50450 However, if Bank Nifty fails to sustain above 51000 and shows signs of reversal around 50950, downside movement is possible. The 50550 level will act as support for today’s session, with a major downside expected only if the index breaks and starts trading below 50450.
NSE:BANKNIFTY
by TradZoo
[INTRADAY] #BANKNIFTY PE & CE Levels(19/08/2024)🔔 Bank Nifty Update for Today: 📈 Gap-Up Opening Expected: Key Level: 50550 Potential Upside Target: 51000 If Bank Nifty sustains above the 50550 level after the opening, we could witness a strong upward rally, potentially pushing the index towards the 51000 mark. This scenario indicates bullish momentum and a chance for further gains. 📉 Watch for Downside: Critical Level: 50450 Possible Downfall Range: 400-500 points However, if Bank Nifty fails to hold the 50550 level and starts trading below 50450, a downside move may be imminent. In this case, we could see a significant drop, with the index potentially declining by 400 to 500 points.
NSE:BANKNIFTY
by TradZoo
1
[INTRADAY] #BANKNIFTY PE & CE Levels(14/08/2024)Today, Bank Nifty is expected to open with a slight gap up, with an opening level around 50000. After the opening, a possible reversal to the downside is anticipated. The downside target for today’s session could be around 49,550 if Bank Nifty does not sustain above 49950. Any upside rally will only be possible if Bank Nifty starts trading above 50050; this rally could reach up to 50450, which will act as a strong resistance level for today’s session.
NSE:BANKNIFTY
by TradZoo