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Niftybank

Nifty 15May23 to 19May23 ST,MT & LT-Chart Cleaned for VisibilityNifty 15 May 23 to 19 May 23 Short ,Medium and Long Term Nifty closed at 18314 ( 18069) and touched low of 18100. Nifty touched high of 18389. Mainly followed the band resistance provided for last two weeks ( as mentioned below) and 3-4 days the resistance acted as support. Nifty support at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines) RSI ,MACD and Stochastic are at 69%, 210 and 92% KN Election results will play small setback in the indices, might drop to the the support level provided in the coming week in initial trading sessions. However after small consolidation it will again try to attempt to surpass 18465/ 18600 /18900 in the Medium term. Nifty- short term is Neutral to Long. Need to decisively close above 18274 to reach targets ext target at 18437/18465 ( fibonacci resitances) . Nifty support at 18111/18204/18274 Buy on Dip Nifty Medium Term - Nifty need to break decisively above first target 18274 to reach next target of 18437 ( Fibonacci 0.786 Retracement)/ 18640/ followed by prev high 18890. Nifty have multiple support for Medium Term - 17865/17741 ( Previous Highs) and 17560 ( April Low) Below that 17387- 17340/ 17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 17208/17180//17000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT (Buy on dip)
NSE:NIFTY
by karthikss
Nifty 15 May 23 to 19 May 23 Short ,Medium and Long TermNifty 15 May 23 to 19 May 23 Short ,Medium and Long Term Nifty closed at 18314 ( 18069) and touched low of 18100. Nifty touched high of 18389. Mainly followed the band resistance provided for last two weeks ( as mentioned below) and 3-4 days the resistance acted as support. Nifty support at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines) RSI ,MACD and Stochastic are at 69%, 210 and 92% KN Election results will play small setback in the indices, might drop to the the support level provided in the coming week in initial trading sessions. However after small consolidation it will again try to attempt to surpass 18465/ 18600 /18900 in the Medium term. Nifty- short term is Neutral to Long. Need to decisively close above 18274 to reach targets ext target at 18437/18465 ( fibonacci resitances) . Nifty support at 18111/18204/18274 Buy on Dip Nifty Medium Term - Nifty need to break decisively above first target 18274 to reach next target of 18437 ( Fibonacci 0.786 Retracement)/ 18640/ followed by prev high 18890. Nifty have multiple support for Medium Term - 17865/17741 ( Previous Highs) and 17560 ( April Low) Below that 17387- 17340/ 17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 17208/17180//17000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT (Buy on dip)
NSE:NIFTY
by karthikss
3
Nifty 08 May 23 to 12 May 23 Short ,Medium and Long TermNifty 08 May 23 to 12 May 23 Short ,Medium and Long Term Nifty closed at 18069 ( 18090) and touched low of 18042 Nifty touched high of 1827. Mainly followed the band resistance provided last week ( as mentioned below) due to awaiting of FED decision and followed by drop on last day due to HDFC stocks. Nifty small Resistances at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines) RSI ,MACD and Stochastic are at 62% fall from 75% So far Q4 have mixed results. Nifty- short term is Neutral to Long. Need to decisively close above 18274 to reach targets ext target at 184372/18465 ( fibonacci resitances) . Nifty small Resistances at 18111/18204/18274 Nifty support at 17869/177741 ( Previous Highs) and 17570/17530 (Inclined two trend line) Nifty Medium Term - Nifty need to break decisively above first target 18274 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890. Nifty Support at 17387- 17340/ 17180/17200/17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT ( Buy on dip)
NSE:NIFTY
by karthikss
Nifty bankNifty bank has been moving positively from last 3 days and today also it gives a gap up opening and was perfectly consolidating for the 2/3 day but after it was near market closing time started to move downwards as if selling has been done on a large scale. Although it sustained above it's days low and perfectly ended with a Doji formation on a Daily- timeframe reflecting an indecision for tomorrow's opening and operations. However, we are fully optimistic but if it tries to go below 43300 level then we can say its support near 43100/43000. And our resistance will be 43800level if market tries to sustain above 43300 level tomorrow then we will be bullish on it. Thanks
NSE:BANKNIFTY
by TripuraInvescorp
Nifty 02 May 23 to 5 May 23 Short ,Medium and Long TermNifty 02 May 23 to 5 May 23 Short ,Medium and Long Term Nifty touched a high of 18090 ( 17865) and touched low of 17610 Nifty closed at 18065 (Prev Close 17627). Nifty crossed the key 17867 Resistance last week ( as mentioned in last week analysis) and touched above 18000, which shows a positive sign. RSI ,MACD and Stochastic are above 75% and green zone. Q4 results are being announced and many companies posted good results. As expected Banks and NBFCs are posting good results. Can be bought for Medium term. Nifty Bank already gave good returns ( +7%) in the last 1 month as mentioned in previous reports. Nifty- short term is Long. Nifty small Resistances at 18111/18204/18274 ( Prev Highs Shown in thick red , blue and green horizontal lines) Above these resistances next target at 184372/18465 ( fibonacci resitances) Nifty support at 17570/17530 (Inclined two trend line) Nifty Medium Term - Nifty need to break decisively above first target 18274 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890. Nifty Support at 17387- 17340/ 17180/17200/17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT ( Buy on dip)
NSE:NIFTYLong
by karthikss
Nifty 24 Apr 23 to 02 May 23 ST,MT, LT reviewNifty 24 Apr 23 to 2 Mayr 23 Short ,Medium and Long Term Nifty touched a high of 17865 just below the resistance mentioned last week ( 17867) and touched low of 17577 Nifty closed at 17624 (Prev Close 17828). RSI, 66 % and dropped to 55%. MACD is above MACD signal and Stochastic touched 100% and dipped to 75% from last week. Nifty- short term is PNeutral. Nifty small Resistances at 17859 ( Fibonacci 50% retracement)/17867 ( Inclined Trend Line Resistances ) Above these resistances next target at 18000/18100 Nifty support at 17570/17530/17387- 17340 for the week ( Inclined two trend line) Nifty Medium Term - Nifty need to break decisively above first target 18217 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890. Nifty Support at 17180/17200/17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT
NSE:NIFTYLong
by karthikss
Nifty 17 Apr 23 to 21 Apr 23 Short ,Medium and Long TermNifty 17 Apr 23 to 21 Apr 23 Short ,Medium and Long Term Nifty touched a high of 17638 and low of 17610. Nifty closed at 17828 (Prev Close 17601). Nifty Crossed crucial resistance of 17690 last week. Medium Term call for buy on dips worked well Nifty Bank, Nifty IT and Nifty 50 increased by 5% from low. Especially Nifty bank surpassed ( 7.5%) other indices. Buy call was given for all the above indices a month back on dips. RSI, stochastic and MACD in near top zone. Nifty- short term is Positive. Nifty small Resistances at 17859 ( Fibonacci 50% retracement)/17867 ( Inclined Trend Line Resistances ) Above these resistances next target at 18000/18100 Nifty firm support at 17500-17457 Nifty Medium Term - Nifty need to break decisively above first target 18217 , next target of 18437 ( Fibonacci 0.786 Retracement) followed by prev high 18890. Nifty Support at 17180/17200/17252 Long term- Need to decisively close above 18890 ( Previous Dec22 High) to reach targets of 19000/19500/20000 long term support at 16746 ( Sep22 Low) Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT
NSE:NIFTYLong
by karthikss
Nifty 10 Apr 23 to 13 Apr 23 Short ,Medium and Long TermNifty 10 Apr 23 to 13 Apr 23 Short ,Medium and Long Term Nifty touched a high of 17638 and low of 17310. Nifty closed at 17599 (Prev Close 17359). Global Economy is reversing but lot of agencies have given cautious & weakest growth % of 2-3% for next 5 years. Interest rate are at peak and signs of reversal and inflation are reducing. But Threat of Geopolitical Tension still there. Markets have raised last week above the initial resistances, moved past MA 200 & MA 50. Medium Term buy on Dip worked well Nifty Bank, Nifty IT and Nifty 50 increased by 2-5% from low. Especially bank surpassed other indices. RSI, stochastic and MACD recovered & crossed above 50% the MA and moving up. Nifty (16945) short term is Positive. Nifty Resistance at 17699/17650 (Shown in Green Color Declining Trend Line Resistances ) Above these resistances next resistance are at 17818/17860( Fibonacci Resistances ) Nifty immediate support at 17500-17457 Nifty Medium Term - Nifty need to break decisively above 17860 ( Fibonacci Retracement) to move past 18000/18205. There is a chance of reversal from the peak, depends on the global situation. Nifty Support at 17180/17200/17252 Long term- Above 18265 Target Nifty 18890 ( Previous Dec22 High) Need to decisively close above 18890 to reach targets of 19500/20000 long term support at 16746 ( Sep22 Low) In case if it falls below then next major support at 16300, then market may go down to 15900. Long term Investors can accumulate following Mutual Funds NIFTY 50 Equal weight Bank Nifty Nifty IT
NSE:NIFTY
by karthikss
1
Bank Nifty Elliott Wave possibilitiesThe idea presents two possibilities on Bank Nifty as follows: 1. corrective move: this suggests that bank nifty is moving down in a double zig-zag pattern where the index is currently in wave b of wave y. post which the index should head higher in at least three waves if not five. 2. Impulsive move: this suggest that index is heading down in an impulsive manner which is shown as an alternate count in green colour. The index seems to be in wave 4 of wave 1 or wave a (that remains to be seen). Whatever view plays out, I will update the idea accordingly Summary: both the possibilities suggest a down move in the near future. Thanks for reading :)
NSE:BANKNIFTY
by barefootTrades
Nifty 27 Mar 23 to 31 Mar 23 Short ,Medium and Long TermNifty 27 Mar 23 to 31 Mar 23 Short ,Medium and Long Term Nifty touched a high of 17530 and low of 16850. Nifty closed at 16945 (Prev Close 17100). As per the last week call, Nifty went down and tested 16923. RSI , stochastic and MACD still at oversold zone and yet to recover / Cross the Signal / Moving Average. Nifty might fall further as there is monthly expiry, Financial year end profit/Loss booking and Global issues. Nifty(16945) short term - Go short Nifty Resistance at 17200/17465 Nifty Support at 16764/16697 (inclined trend line - Green Color) Nifty Medium Term - Nifty need to break decisively above 17465 to reach 17800-17900 If not, Nifty might fall below 16764 to reach 16400/16300 Zone where there are next support. Long term - Buyable if there is any dip Target Nifty Resistance 17800-17900/ 18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high) In case if it falls below 16300, then market may go down to 15900. Long term Investors if there is a fall in market, following Mutual Funds can be accumulated NIFTY 50 Equal weight ( 16945 buyable at 16300 until 15900), Bank Nifty ( 39395 buyable at 38620/38160) Nifty IT ( 27935 buyable at 27400/27000)
NSE:NIFTYShort
by karthikss
Nifty 13 Mar 23 to 17 Mar 23 Short ,Medium and Long TermNifty 13 Mar 23 to 17 Mar 23 Short ,Medium and Long Term Nifty touched a high of 17801 and low of 17331. Nifty closed at 17413 ( Prev close 17594 ) due to US Bank issues. Nifty to go down and test 17133/17088/17000 in the coming week. RSI , stochastic and MACD have recovered and increased, later declined at the end of week to selling zone. Markwt still not in oversold zone. Nifty short term - Will go down and the crucial support need to hold. Nifty Resistance at 17650/17712 (Inclined Trend line - Shown in green color) Nifty Support at 17368 MA200 /17355(new low) /17200/ 17167 (aug 22 Low)/17133 ( Red Inclined trend line)/ 17088 ( Blue Inclined trend line) Nifty Medium Term Nifty will be range bound in medium term from 17000 to 18268. Nifty need to break decisively above 18268 to reach 18800-18900 in Medium term and Support at 17000 Nifty Resistance 18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high) Long term Target 19500/20500 possible if it breaks above 18268 In case if it falls below 17000, then next crucial support is at 16793, which will act as major long term support. NIFTY 50 Equal weight, Bank Nifty, Nifty IT and Mutual funds can be accumulated for long term.
NSE:NIFTYShort
by karthikss
Nifty 06 Mar 23 to 10 Mar 23 Short ,Medium and Long TermNifty 06 Mar 23 to 10 Mar 23 Short ,Medium and Long Term Nifty 17300 /17200 support provided last week acted very well. Nifty closed at 17594 ( Prev close 17465 ) Nifty touched a high of 17638 and low of 17273. RSI, stochastic and MACD are in recovery zone. Nifty short term - Will be upwards but need to cross the crucial resistance as mentioned below. Nifty Resistance at 17650/17712 (Inclined Trend line - Shown in green color) If it crosses 17712 in the week the other resistances to break 17819(0.5 fib old)/17900/18000(Aug high) Nifty Support at 17435(dark red color horizontal line) /17368 MA200 /17355(new low) /17200 Nifty Medium Term Nifty will be range bound in medium term from 17200 to 18268. Like previous week, this support levels are shown in Green & Red thick Horizontal lines. Nifty need to break decisively above 18268 to reach 18800-18900 in Medium term and Support at 17000 Nifty Resistance 18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high) Long term Target 19500/20500 possible if it breaks above 18268 In case if it falls below 17000, then next support is at 16793, which will act as major long term support. As mentioned in last week market corrected and reversed back from oversold zone, after a few dip. Nifty IT and NIFTY 50 Equal weight Mutual funds can be accumulated for long term. Nifty Bank call was given for last two weeks to buy after touching low 39638 and it rose more than 4% (to 41251) last week and surpassed nifty. Still bank nifty will increase once it crosses 41300 and then to 41950/42850 in medium term. Nifty IT 29857 also sustaining above 50 MA. Have potential to move upto 31850 in coming weeks if nifty is sustaining & crossing crucial resistances.
NSE:NIFTY
by karthikss
Nifty 27 Feb 23 to 3 Mar 23 Short ,Medium and Long TermNifty 27 Feb 23 to 3 Mar 23 Short ,Medium and Long Term Nifty closed at 17465 ( Prev close 17944) Nifty touched a high of 17989 and fallen to low of 17429 last week. Market may further move sidewards for few more weeks for decisive movement either upwards or downwards. RSI stochastic and MACD are in negative zone and in oversold position and also there is no sign of reversal at immediate present, hence market may further fall to 17300-17180. Nifty short term Nifty corrected from 17900 to 17450 level. it may further correct to 17300/17200 as mentioned below. Nifty Support at 17435(dark red color horizontal line) /17368 MA200 /17355(new low) /17200 Nifty Resistance at 17555/17716/17819(0.5 fib old)/17900/18000(Aug high) /18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high) Nifty Medium Term Nifty will be range bound in medium term from 17200 to 18268. Like previous week, this support levels are shown in Green & Red thick Horizontal lines. Nifty need to break decisively above 18268 to reach 18800-18900 in Medium term and Support at 17000 Long term Target 19500/20500 possible if it breaks above 18268 In case if it falls below 17000, then next support is at 16793, which will act as major long term support. Since Market is in oversold zone, after a few dip, it is likely to move towards 17550-17800. Buy on dips once fallen. Nifty IT and NIFTY 50 Equal weight Mutual funds can be accumulated for long term. Nifty Bank 39909 can be accumulated level of 38600 for long term.
NSE:NIFTY
by karthikss
Nifty 20 Feb 23 to 24 FEB 23 Short ,Medium and Long TermNifty 20 Feb 23 to 24 FEB 23 Short ,Medium and Long Term Nifty closed at 17944 ( Prev close 17856) Neutral Strategy was given for Last two weeks and buy on dip for Medium Term & Long Term Investors for the past few weeks and to continue the same. Nifty touched a low of 17721 last week. Market may further move sidewards for few more weeks for decisive movement either upwards or downwards. RSI and MACD are in positive zone but Stochastic is near to over bought zone. Nifty short term Nifty will be in range bound from 17700 to 18268 in short term and Nifty support at 17819(0.5 fib old) /17785(feb22 high) /17716. The support for the last weeks is from a inclined red color trend line shown in the chart apart from the previous high and Fibonnacci Supports mentioned above. Nifty Resistance will be at 17900/18000(Aug high) /18109(sep high) / 18122(0.5 fib new) /18268 (Dec22 end Jan23 high) /18355(Jan22 High). Nifty will be range bound in medium term from 17300 to 18268. Like previous week, this support levels are shown in Green & Red thick Horizontal lines. Medium term target Nifty need to break decisively above 18268 to reach 18800-18900 in Medium term. support at 17566/17435(dark red color horizontal line) /17355(new low) /17314 MA200. Long term Target 19500/20500 still in intact. In case if it falls below 17300, then next support is at 16800, which will act as major long term support.
NSE:NIFTY
by karthikss
Nifty bankHello Everyone, Today Nifty Bank was trading in a very tight range in the morning session. After than it breaks its support of 41350 and fall unto 41100 after that it tried to rise and breaks its support line of 41350 and move 200++ pts up and hence, ended the market in green. In this whole fluctuation of today's market over view is set to be bullish for next day. We expect it to touch 42000-42300 range which will show a good market condition in the banking and allied stocks. The impact of budget on the market are seeming lightly today as volatility has decreased quiet comparing to past 4-6 trading session. So our trading range for upcoming days is between 41000-42000 (+/- 200pts as per India VIX). Thanks
NSE:BANKNIFTYLong
by TripuraInvescorp
Nifty bankNiftybank even after opening gapdown tries to sustain itself in green and closed above yesterday's closing price. As per our last post we have continued to put our view for upside in BANKNIFTY. (Resistance of 41000 is yet to reach) Some noticing points that I want to clarify are: Nifty bank is consolidating in a fix range which after its range breakout will give a sharp movement to any of the sides. For Short term trade (weekly options) support is 40050/39800/39550 if it goes downward direction. If this consolidation phase continues then we can put our resistance at or near 41000-41350; while support could be set above 39850. (For swing opportunity) Thanks. Disclaimer: This post is for educational purpose only. Please consult your financial advisor before investing. Boost my post if you like.
NSE:BANKNIFTY
by TripuraInvescorp
2