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Bank Nifty Trading Strategy for 23rd Sep'2020#banknifty OI up by 9.78% and price down up -1.07 %, which indicates further short build Up. Cracks are visible in the index, if we don't get a bounce in the next couple of days, we might slip big very fast. Question IS:-" Did we take support from the strong support zone? ", it will only get answered in the next few days. Don't read much into the last 45 mins pullback, as these were short covering, which pulled up the index a bit. The uptrend channel which started on 16th June (19,507), the price got closed below in the channel 5th time, which again is not a bad sign. And in the last 3 weeks, we are closing in red on weekly basis, which is again a very bad sign. Decision Zone 21,139 - 21,228, below is bearish, and above is bullish. #banknifty is near a very strong support zone of 21,026 - 21,230 and the last round of support is 20,732. If 20,732 breaks, then the lower target is 19,507 & 18,540. Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
NSE:BANKNIFTY
by subhagghosh
5
BN Upcoming week.BN in zone where it can make or break. it hold 22000K level. despite sudden fall on Friday it re acclaimed 22K level and close above that. big players don't want it close below 22000 level so definitely some big movement we can expect and they don't want retail to be part of that. SL hunting game will start soon. keep eye on VIX if increase then be ready for wild move. so be ready for Move may be up or down. this month is very crucial. lets see where BN closes. BULLISH only 22750 BEARISH only 21900 ON CLOSING BASIS. so just wait and watch and take small intraday trades with cautious. SL is must.
NSE:BANKNIFTY
by Daulat-Trade
Expiry Special Analysis for 17th Sep'2020.#banknfity OI up by 10.68% and price down up +0.48%, which indicates a neutral setup. The last 1 hour data is not good, the 22,600 -22,650 zone was used for long unwinding, which suggests a clear supply zone here. The uptrend channel which started on 16th June (19,507), the price got closed the second day in a row inside the channel and we made lower low and higher high, which is a good sign ann 22,000 -22,050 will be a strong support zone going further. The broader range that is coming down is 22,050 to 22,650. The decisive move will be outside this zone. What I posted yesterday:- Trading Strategy:- I will go into trading with a neutral mindset and will take a position based on the current setup of the market. I will be bearish if 22,050 breaks for a target of 21,850 / 21,600 /21,300:- Not triggered I will be bullish above 22,465 for a target of 22,550 / 22,750 / 22,850 / 23,150 :- Tiggred and we made high od 22,659. Decision Zone 22,435 - 22,514, below is bearish, and above is bullish and the above post remains valid for Thursday's trading. Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
NSE:BANKNIFTY
by subhagghosh
5
Bank Nifty Trading Strategy for 16th Sep'2020#banknfity OI up by 4.97% and price down up +0.44%, which indicates a neutral setup. BN closed exactly on our decision point of 22,465. People will be interested to know, what happened from 2:30 PM to 3:30 PM, huge spike on the upside, again this was short covering in the expected line. The uptrend channel which started on 16th June (19,507), the price is pulled back just inside the channel. And we respected yesterday's low, which is a good sign and going further 22,000 -22,050 will be a strong support zone. I won't be trading shorts until I get a breakdown below 22,000 - 22,050. Trading Strategy:- I will go into trading with a neutral mindset and will take a position based on the current setup of the market. I will be bearish if 22,050 breaks for a target of 21,850 / 21,600 /21,300. I will be bullish above 22,465 for a target of 22,550 / 22,750 / 22,850 / 23,150. Trend deciding levels are 22,465, below is bearish, and above is bullish. Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
NSE:BANKNIFTY
by subhagghosh
4
Bank Nifty Trading Strategy for 15th Sep'2020#banknfity OI up by 24.03% and price down by -1.68%, which indicates shorts were build up today in the index. Contra to popular move in the last few days, the last 30 min didn't show short covering but long unwinding, which is bad for the market. The uptrend channel which started on 16th June (19,507), first-time for the last 3 months, we have given a closed below this channel, which is a very bearish signal. Further weakness will crip in below, 21,850, and can result in panic selling for a target of 21,300. Trading Strategy:- I will go into trading with a neutral mindset and will take a position based on the current setup of the market. I will be bearish if 22,050 breaks for a target of 21,850 / 21,600 /21,300. I will be bullish above 22,400 for a target of 22,550 / 22,750 / 22,850 / 23,150. Trend deciding levels are 22,465, below is bearish, and above is bullish. Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
NSE:BANKNIFTYShort
by subhagghosh
Bank Nifty Trading Strategy for 14th Sep'2020#banknifty Weekly view:- #banknifty is in the rising channel and we are constantly taking support from lover end of channel 22,050 - 22,200. Spending time at the lower end of the channel for the last 3 days is not a very sign for bulls. If the previous swing low of 21,886 is broken, then the last swing low of 21,403 will be challenged followed by 21,000 levels. If somehow 21,000 levels get broken, you won't get much time to pull out, and downsize target is 18.540. The all the analyses will be null and void if BN crosses, 23,560. Trade what you see, not what is felt, trading is all about making money and nothing else. happy weekend, enjoy your time with family & friends, and stay safe.
NSE:BANKNIFTY
by subhagghosh
16
Bank Nifty Trading Strategy for 11th Sep'2020#banknifty OI up by 5.68 % and price up by +0.89 % shows a neutral position. Again, the last 60 min move is a pure short covering, so we should not read much into the price action as a reversal. #banknifty is seating in strong support zone 22,011 - 22,213 and we managed to hold it. #banknifty is the uptrend channel, trade the channel, lower end of the channel is around 22150 and we managed to closed just above the channel. The next hurdle on the upside is 22,865, which if crossed can see rally till 25k once again. Decision Zone 22,554 - 22,641 We won't short now, as our downside target is done, fresh shorting will be below 21,886. If 21,886 is breached, we will see 21,350 - 21,400 and followed by 21,050. What we said yesterday:-"Trading Strategy:- Buy in dips till 21,886 holds for a target of 22,440 / 22,640 / 22,865", the first 2 targets were achieved. Stratergy for tomorrow:- Won't use dip to buy now, will use bounce to sell with SL of 22,865, for a target of 22,220 / 22,050 / 21,886 / 21,400. Trade what you see not what you feel, trading is all about making money nothing else.
NSE:BANKNIFTYShort
by subhagghosh
9
Expiry Special Analysis for 10th Sep'2020.#banknifty OI up by 8.93% and price down by -2.10 % show short buildups. The last 30 min move is a pure short covering, so we should not read much into the price action as a reversal. #banknifty is seating in strong support zone 22,011 - 22,213 and we managed to hold it. #banknifty is the uptrend channel, trade the channel, lower end of the channel is around 22150 and we managed to closed just above the channel. The next hurdle on the upside is 22,865, which if crossed can see rally till 25k once again. Decision Zone 22,554 - 22,641 We won't short now, as our downside target is done, fresh shorting will be below 21,886. If 21,886 is breached, we will see 21,350 - 21,400 and followed by 21,050. Trading Stratergy:- Buy in dips till 21,886 holds for a target of 22,440 / 22,640 / 22,865. Trade what you see not what you feel, trading is all about making money nothing else.
NSE:BANKNIFTYLong
by subhagghosh
7
Bank Nifty Trading Strategy for 9th Sep'2020#banknifty OI up by 16.23% and price down by -0.87% show long unwinding & short buildups. The last 45 min sink was due to long unwinding, which a matter of concern, as long are getting liquidated around 22850 -22650 zone. Going forward, this zone will act as resistance. #banknifty is the uptrend channel, trade the channel, lower end of the channel is around 22220. Expected support area:- 22,440 +-50 Decision Zone 22,911 - 23,065 Trade what you see not what you feel, trading is all about making money nothing else.
NSE:BANKNIFTYShort
by subhagghosh
Bank Nifty Trading Strategy for 8th Sep'2020#banknifty OI up by 5.29% and price down by -0.2% show neutral setup. The last 30 min rally was due to short covering, where 6,968 #banknifty future positions were closed. So we should not read too much into the last 30 min rally to be trend or game-changer, the trend is still weak. #banknifty is the uptrend channel, trade the channel. Decision Zone 23,211 - 23,112 Trade what you see not what you feel, trading is all about making money nothing else.
NSE:BANKNIFTY
by subhagghosh
7
Bank Nifty Trading Strategy for 4th Sep'2020#banknifty OI up by 16.33% and price down by 1.44 % shows Short Built-Up position in FNO. There is huge congestion that has occurred in the last 3 days in the range of 23,385 to 24,199 range, any move outside this range will decide the direction. If there is an upside breakout the target on the upside is 24,575 or the downside breakdown is 22,745. All SL for long is revised to 23,385. #banknifty has given breakout above 23,220 after 2 months of consolidation (21,027 - 23,211 i.e 2,184 points range). Upside target's opened are 23,517 (completed)/ 24,364-24,524-24-556(completed) / 25,395-25,670-25,923 / 26,311 as long as 23,385 holds. GAP 25,923 - 25,670, 253 point gap in March, as a normal rule market always returns to fill up the gap. This gap will also act as resistance. Fibonachi Analysis :- 32,613 - 16,116 23.6% 20,009 Done 38.2% 22,418 Done 50.0% 24,364 Done 61.8% 26,311 Pending Strong Resistance:- 24,364 - 24,556 Strong Resistance:- 25,670 - 25,923 Strong Support:- 23,200 Elliot Wave:- Wave 3 can be 161.8% to 261.8% or 461.8% Wave 1 :- 21,403 - 22,410 Wave 2 :- 22,410 - 21,886 Wave 3 :- 21,886 - 25,232 (332% of wave 1) - Completed Wave 4 :- 25,232 - 23,385 (44.7% of Wave 3) - Completed Wave 5 :- 23,385 - 24,526 / 25,232 / 25,827 - Pending *Wave 5 is typically 61.8%, 100%, or 123.6% of wave 4 Decision Zone 23,773- 23,840 Note:- Trade the levels, levels are staircase, you take small steps to go ahead. Trade what you see, not what you feel, trading is all about making money and nothing else.
NSE:BANKNIFTY
by subhagghosh
10
Expiry Special Analysis for 3rd Sep'2020.#banknifty OI up by 7.85% and price up by 0.26 % shows the almost neutral position in FNO. BN future is trading at 41.35 Rs premuim & cost to carry is 2.87, indication long buildup with low volume. In today's session, the index formed another inside candle, though the range gets smaller than yesterday's session. If there is upside breakout the target on upside is 24,728 or downside breakdown is 22,668. Two days of consolidation on downsize is a cause of worry, we might be seating for next round of fall until we starts trading above 24,300 (Three targets are 24,526 / 25,232 / 25,827 are valid only if we start trading above 24300). All SL for long is revised to 23,385. #banknifty has given breakout above 23,220 after 2 months of consolidation (21,027 - 23,211 i.e 2,184 points range). Upside target's opened are 23,517 (completed)/ 24,364-24,524-24-556(completed) / 25,395-25,670-25,923 / 26,311 as long as 23,385 holds. GAP 25,923 - 25,670, 253 point gap in March, as a normal rule market always returns to fill up the gap. This gap will also act as resistance. Fibonachi Analysis :- 32,613 - 16,116 23.6% 20,009 Done 38.2% 22,418 Done 50.0% 24,364 Done 61.8% 26,311 Pending Strong Resistance:- 24,364 - 24,556 Strong Resistance:- 25,670 - 25,923 Strong Support:- 23,200 Elliot Wave:- Wave 3 can be 161.8% to 261.8% or 461.8% Wave 1 :- 21,403 - 22,410 Wave 2 :- 22,410 - 21,886 Wave 3 :- 21,886 - 25,232 (332% of wave 1) - Completed Wave 4 :- 25,232 - 23,385 (44.7% of Wave 3) - 1847 point (we assume it's completed, if not can till 23,165.) 50% 23,559 Done 61.8% 23,164 (Might or might not be) Wave 5 :- 23,385 - 24,526 / 25,232 / 25,827 *Wave 5 is typically 61.8%, 100%, or 123.6% of wave 4 Decision Zone Note:- Trade the levels, levels are staircase, you take small steps to go ahead. Trade what you see, not what you feel, trading is all about making money and nothing else.
NSE:BANKNIFTY
by subhagghosh