BANKEX S/R for 9/9/24Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
BANK trade ideas
Bankex Analysis for 09-09-2024: Support & Resistance LevelsOn September 6, 2024, the BSE Bankex index experienced a significant decline, closing at 57,292.63, down by -1.93% or 1,127.43 points. The index opened at 58,240.65, reached a high of 58,282.20, and fell to a low of 57,122.40 during the day.
Top Gainers and Losers:
Among the top losers in the Bankex index were State Bank of India (SBI), which fell by 4.41%, closing at ₹782.60. Canara Bank also saw a significant drop of 4.45%, closing at ₹103.40. On the other hand, HDFC Bank dropped by 0.5%, closing at ₹1,637
Support and Resistance Levels:
Support Levels: Put writing is dominant at 57,000, which acts as a crucial support. This suggests a likely range of 57,000-58,500 for Bankex, with traders keeping a close eye on these levels.
Resistance Levels: Open interest (OI) analysis highlights maximum call writing at the 58,500 level, indicating a strong resistance.
T echnical Data Points:
Max Pain: 57,600
PCR (Put-Call Ratio): 0.53 Bearish
IV (Implied Volatility): 12.98 as of the closing on 06-09-2024.
Technical Indicators for Bankex:
RSI: The Relative Strength Index for Bankex is hovering around 45, indicating a neutral zone but with a slight bearish tilt due to recent declines.
MACD: The Moving Average Convergence Divergence shows a bearish crossover, signaling further downward momentum in the short term.
Pivot Points: Pivot levels for the upcoming session are crucial. A breach below the 57,000 mark could lead to further weakness, while holding above could trigger a recovery.
Gann Prediction:
Based on Gann theory, Bankex might hover around its pivot levels, and if the index maintains support near 57,000, it could potentially recover towards 58,000. A failure to hold this level might result in more downward movement in the short term.
The Bankex has faced downward pressure recently, with September 6 marking a significant decline. Open interest suggests that 57,000-58,500 will be key levels ahead of the weekly expiry on September 9. Technical indicators are flashing caution, and while the index shows signs of nearing oversold territory, traders should remain cautious, particularly with resistance looming at higher levels.
Disclosure: The publisher of this idea is not a SEBI registered analyst. The information shared here is solely for educational purposes and should not be interpreted as financial advice. Always consult with a qualified financial advisor before making any investment decisions. The publisher does not endorse social media shares on any platform.
BANKEX S/R for 4/9/24Support and Resistance Levels:
Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
BANKEX S/R for 26/8/24Support and Resistance Levels:
Support Levels: These are price points (green line/share) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
BANKEX S/R for 23/8/24Support and Resistance Levels:
Support Levels: These are price points (green line/share) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory.
Combining RSI with Support and Resistance:
Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal.
Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
Bankex Analysis for 19-08-2024: Support & Resistance LevelsOn 16th August 2024, the Bankex Index showed a strong performance, closing at 57,633.81, which marked a significant rise of 1.61% or 911.86 points. The index opened at 57,156.00, reaching a high of 57,736.48 and a low of 56,816.69 during the day. This increase reflects a robust bullish sentiment across the banking sector.
Technical Indicators for Bankex:
Max Pain: 57,500
PCR (Put-Call Ratio): 1.09 Bullish
IV (Implied Volatility): 9.94 as of the closing on 16-08-2024.
Support Levels
Bankex is already in bullish domain with key support levels around 56,800 and 56,400.
Resistance Levels
If the index sustains above these levels, a pullback towards the resistance levels of 57,900 and58,400 is possible.
Top Gainers and Losers:
Among the Bankex constituents, top gainers included Kotak Mahindra Bank, which surged by approximately 3.2%, and Axis Bank, which increased by 2.7%. Conversely, IndusInd Bank and Federal Bank saw minor declines, with IndusInd Bank down by 0.5%, reflecting slight profit-booking after a recent rally.
Trade Prediction for 19th August 2024:
The Bankex Index is expected to face immediate resistance at 56,900, while the nearest support level is around 56,500. Given the bullish momentum, a potential breach above 57,800 could propel the index towards the next resistance at 58,200 to 58,400. Traders should watch these levels closely, as the index's movement will depend on broader market sentiments and any sector-specific news.
Technical Parameters:
Key technical indicators suggest a mixed outlook. The Relative Strength Index (RSI) is nearing overbought territory, indicating potential caution. However, moving averages, including the 50-day and 100-day simple moving averages (SMA), continue to provide strong support, suggesting that the overall trend remains positive.
OI Analysis:
The Open Interest (OI) data indicates a buildup in positions at higher strike prices, especially around 58,000, suggesting that traders are expecting the index to test these levels. The bullish buildup in OI, combined with positive technical indicators, points to a continuation of the upward trend, albeit with potential volatility near the resistance levels.
Disclosure: The publisher of this idea is not a SEBI registered analyst. The information shared here is solely for educational purposes and should not be interpreted as financial advice. Always consult with a qualified financial advisor before making any investment decisions. The publisher does not endorse social media shares on any platform.
BANKEX S/R for 19/8/24Support and Resistance Levels:
Support Levels: These are price points (green line/share) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set.
Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward.
Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
BANKEX S/R for 13/8/24Support and Resistance Levels:
Support Levels: These are price points (green line/share) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
Bankex Analysis for 12-08-2024: Support & Resistance LevelsOn August 9, 2024, the Bankex index displayed a steady performance, opening at 57,746.91 points and reaching a high of 57,747.73 points. The index's lowest point during the day was 57,322.54 points, and it ultimately closed at 57,458.68, representing a 0.74% increase from the previous close of 57,033.81. This positive movement highlights the resilience and sustained confidence in the banking sector, despite broader market fluctuations.
**Considering the recent allegation imposed by Hindenberg on the Chairperson pf Indian regulatory authority this Saturday, the outlook for Bankex remains caution full. Market can go either sideways of can be extremely volatile.
Technical Indicators for Bankex:
Max Pain: 57,400
PCR (Put-Call Ratio): 0.76 Neutral to Bearish
IV (Implied Volatility): 11.77 as of the closing on 09-08-2024.
Support Levels
57,000 PE (Put) Strike: This level shows significant support with an OI of 8,182 contracts.
57,400 PE Strike: Moderate support is observed at this level with 3,855 contracts.
57,500 PE Strike: Another critical support level with 4,317 contracts.
Resistance Levels
58,000 CE (Call) Strike: This is the primary resistance level with the highest OI of 10,246 contracts.
57,500 CE Strike: Another resistance level at 6,390 contracts.
57,800 CE Strike: Further resistance with 4,016 contracts.
Top Gainer: Canara Bank (CANBK) emerged as the top gainer, with its share price increasing by 3.17%.
Top Loser: Kotak Mahindra Bank (KOTAKBANK) was the top loser, with its share price declining by 0.2%.
Stay tuned for more updates on Bankex prediction to navigate the volatile market conditions effectively.
Disclosure: The publisher of this idea is not a SEBI registered analyst. The information shared here is solely for educational purposes and should not be interpreted as financial advice. Always consult with a qualified financial advisor before making any investment decisions. The publisher does not endorse social media shares on any platform.
BANKEX S/R for 12/8/24Support and Resistance Levels:
Support Levels: These are price points (green line/share) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline.
Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down.
Breakouts:
Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold.
Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying.
20 EMA (Exponential Moving Average):
Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum.
Below 20 EMA: If the stock price is below the 20 EMA, it indicates a potential downtrend or bearish momentum.
Disclaimer:
I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It's important to remember that while these indicators can be useful, they are not foolproof. Always consider the broader market context and consult with a qualified financial advisor before making any investment decisions.
Bankex Analysis for 03-08-2024: Support & Resistance LevelsWill Indian Banking Stocks (Bank Nifty & Bankex) Holds Amidst Global Economic Uncertainty and US Banking Sector Woes?
Amidst rising uncertainties in the US economy, particularly within the banking sector, the Indian stock market pulled back from its all-time high on Friday. This retreat was a result of a widespread selloff in global markets, which had a pronounced impact on Indian equities. Banking stocks, in particular, faced significant pressure. The Bankex index registered a notable decline of 0.41%, suggesting potential profit booking at these levels. This downturn mirrors the broader market sentiment, which is currently swayed by geopolitical instability and economic concerns from leading global economies. The combined influence of these global factors underscores the interconnected nature of today's financial markets, where developments in major economies can have immediate and profound effects on markets worldwide.
Bankex Support & Resistance Levels for Tomorrow:
Support Levels:
The first support level is at 58,400 followed by a stronger support at 57,800.
Resistance Levels:
On the upside, the index is already trading above its resistance at 58,850 and strong resistance at 59,100 for Intraday.
Technical Indicators for Bankex Select Prediction:
Max Pain: 58,500
PCR (Put-Call Ratio): 0.64 Bearish
IV (Implied Volatility): 11.32 as of the closing on 02-08-2024.
Since, market is over sold Banking Sector can show a re-bounce.
Stay tuned for more updates on Bankex prediction to navigate the volatile market conditions effectively.
Disclosure: The publisher of this idea is not a SEBI registered analyst. The information shared here is solely for educational purposes and should not be interpreted as financial advice. Always consult with a qualified financial advisor before making any investment decisions. The publisher does not endorse social media shares on any platform.
BSE - BANKEX- Intraday Levels - 29th July 2024BANKEX if Sustain above 58760 then 58941 to 59004 or 59065 above this bullish then 59180 to 59228 then 59306 to 59330 or 59402 above this more bullish
BANKEX if Sustain Below 58590 then 58517 then 58463 to 58394 below this bearish then 57985 to 57936 below this more bearish then 57746 to 57698 then 57566 to 57539
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk.
Thank you.
Bankex Analysis for 29-07-2024: Support & Resistance LevelsDiscover Trade Opportunities in the Choppy Market Zones
The Bankex is anticipated to demonstrate a cautious trend on 29-07-2024 being expiry day. Despite a recent positive performance marked by a sharp recovery from its bottom, driven by overall market sentiment and developments in the banking sector, short-term volatility remains a possibility. On the last trading session, Bankex had a subdued start but quickly gained momentum from a day low of 57,680, closing at 58,600. Key support and resistance levels for Bankex are crucial for traders to consider.
Traders should closely monitor support and resistance levels as they navigate the Bankex expiry and overall trends in the banking sector. By staying informed about the Bank Nifty and its potential movements can provide valuable insights for making strategic decisions in Bankex also. The banking sector's developments and market sentiment will continue to influence the Bankex and Bank Nifty, highlighting the importance of being prepared for potential volatility.
Bankex Support & Resistance Levels for Tomorrow:
Support Levels:
The first support level is at 57,600, followed by a stronger support at 56,800.
Resistance Levels:
On the upside, the initial resistance is between 58,700 and 59,000, with strong resistance at 59,300 to 59,500.
T echnical Indicators for Bankex Select:-
Max Pain for Bankex Index: 58,500
PCR (Put-Call Ratio): 0.79 Slightly Bearish
IV (Implied Volatility): 10.61 as of the closing on 26-07-2024.
Stay updated with the latest insights on Bankex and Bankex Expiry, helping you anticipate potential movements and navigate the volatile market conditions effectively.
Disclosure: I am not a SEBI registered analyst. The information shared here is solely for educational purposes and should not be interpreted as a financial advice. Always consult with a qualified financial advisor before making any investment related decisions. The publisher does not endorse or support social media shares of the published content on any platform.
BANKEX S/R for 29/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support.
Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline.
Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities.
Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement.
20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend.
Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
Bankex Prediction for 22-07-2024 along with Support & ResistanceIn the past few weeks, both the Bankex and Bank Nifty indices have exhibited consolidation within a defined range. The Bankex has struggled to surpass the 60,730 mark on the upper end, while consistently finding support above the 58,800 level on the lower end. This range-bound movement indicates a period of indecision among traders.
On the downside, the initial support for the Bankex is identified at 59,900 . Should this level be breached, a more robust support level exists at 59,500 , which could potentially halt further declines. Conversely, on the upside, the Bankex faces initial resistance at 60,500 . If this resistance is overcome, the next significant barrier is at 60,700 , which has proven to be a formidable hurdle in recent sessions.
Additionally, Fibonacci Retracement Levels have been applied to the chart to provide further insight into potential support and resistance zones. These levels are instrumental in identifying key areas where price reversals or continuations might occur, aiding traders in making informed decisions. The current consolidation phase suggests that traders should monitor these critical levels closely, as a breakout or breakdown from this range could set the stage for the next significant move in the Bankex index.
Max Pain: 60,300 PCR: 0.67 IV: 15.80 as on 19-07-2024
The market can witness volatility. Since, PCR indicates nearly overbought market, Bankex can show bounce back at support levels in either half of the trading session.
Disclosure: I am not SEBI registered. The information provided is for educational purposes only and should not be considered financial advice. Consult a qualified financial advisor before making any investment decisions. Social media shares are neither advice nor endorsed by the publisher.
BANKEX S/R for 22/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support.
Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline.
Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities.
Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement.
20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend.
Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
BANKEX S/R for 15/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support.
Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline.
Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities.
Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement.
20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend.
Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
BSE - BANKEX- Intraday Levels - 8th July 2024BANKEX if Sustain above 60334 then 60510 then 60596 to 60657 then 60678 to 60762 above this bullish then 60930 above this more bullish then 61198 to 61338
BANKEX if Sustain Below 60286 then 60186 to 60102 below this bearish then 59679 to 59617 or 59527 below this more bearish then 59422 to 59373 then 59177 to 59147
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk.
Thank you.
BANKEX S/R for 8/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support.
Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline.
Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities.
Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement.
20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend.
Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
BSE - BANKEX- Intraday Levels - 4th July 2024BANKEX if Sustain above 60374 then 60484 to 60514 above this bullish then 60639 to 60653 then 60766 to 60790 above this more bullish then 61007 to 61021 then 61198 to 61222
BANKEX if Sustain Below 60257 then 60041 to 59993 then 59916 to 59993 or 59854 to 59829 below this bearish then 59534 to 59520 then 59422 to 59397 below this more bearish
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk.
Thank you.
BSE - BANKEX- Intraday Levels - 1st July 2024BANKEX if Sustain above 59688 then 59805 to 59854 or 59902 to 59916 above this bullish then 60049 to 60096 then 60270 to 60284 above this more bullish then 60457 to 60504
BANKEX if Sustain Below 59534 or 59503 below this bearish then 59280 to 59232 then 58941 to 58872 or 58798 below this more bearish
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk.
Thank you.
BANKEX S/R for 28/6/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support.
Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline.
Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities.
Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement.
Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
BSE - BANKEX- Intraday Levels - 24th May 2024BANKEX if Sustain above 58749 above this bullish then 58806 to 58847 above this more bullish then 58926 to 58967 or 58988 then 59037 to 59067 or then 59098
BANKEX if Sustain Below 58576 below this bearish then 58456 to 58445 below this more bearish then 58352 to 58273 then 58243 to 58193
Consider some buffer points in above levels.
Please do your due diligence before trading or investment.
**Disclaimer -
I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk.
Thank you.