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BANKNIFTY trade ideas

BankNifty is in Bullish ZoneBank Nifty was recover itself into its channel and still trading in bullish channel near bottom of the channel. Resistance Level is also nearby so wait for the price come to near support level for good risk to reward. Learning : If any instrument is in bullish trend then all support act as strong support and resistance levels breaks. Note : Its just an analysis, wait for the price to confirm. Disclaimer : Always follow risk to reward, this is the only key to success in market, no matter how much good a trade is looking we never know the future.
NSE:BANKNIFTYLong
by smrgrover2
BANKNIFTY - Trading Levels and Plan for 21-Oct-2024Bank Nifty Trading Plan for 21st October 2024 In the previous session, Bank Nifty moved significantly higher and encountered resistance near the 52,168 level, showing consolidation just below the Opening Resistance/Sideways zone at 52,328. The price action suggests that the market may face further resistance as it approaches the 52,648 Profit Booking Zone. Bank Nifty's trend for 21st October will depend heavily on the opening scenario and its ability to break above these key resistance levels or hold at support zones. Gap-Up Opening (200+ Points): If Bank Nifty opens with a gap-up near or above 52,328, it’s important to observe if the price sustains above this zone. A move above 52,328 can quickly lead to a test of the Profit Booking Zone between 52,648 and 52,832. Long positions can be considered above 52,328, targeting the 52,648-52,832 range. Partial profit booking is recommended near 52,648. Be cautious if Bank Nifty opens within the Profit Booking Zone (52,648-52,832), as a reversal is possible from these levels. Place a stop-loss below 52,328 for any long trades initiated after the gap-up opening to manage risk effectively. Flat Opening: In case of a flat opening near the 52,138 level, wait for the first 30 minutes to see if the price can sustain above this level. If the price moves above 52,328, it can offer a good buying opportunity targeting 52,648-52,832. A failure to sustain above 52,138 could result in a retracement back towards the Opening Support zone at 51,923-51,847. Watch for a potential bounce from these levels for buying opportunities. Stop-loss should be placed below 51,923 for any long trades in case of a flat opening. Gap-Down Opening (200+ Points): If Bank Nifty opens with a gap-down below 51,847, wait for a recovery towards 51,923 before considering any long positions. A failure to hold 51,847 could lead to further downside pressure, targeting 51,809 and potentially 51,190 (Major Support). Avoid taking aggressive long positions unless a reversal pattern is confirmed near these supports. For gap-down scenarios, a stop-loss just below 51,809 is recommended to minimize risk exposure. Avoid attempting to buy falling prices without clear confirmation of support near 51,809 or 51,190. Risk Management Tips for Options Trading: Use hedged strategies such as bull call spreads or bear put spreads to limit risk, especially in volatile markets. Do not hold naked option positions overnight in case of large gap openings, as option premiums can decay rapidly due to time decay. For intraday options trades, always set defined stop-losses to avoid significant losses in case of sudden market reversals. For example, consider 52,328 as a key level for long call options or 51,809 for long put options. Ensure to book profits periodically, especially near key resistance or support zones, to avoid losing gains in a volatile market. Summary & Conclusion: The key levels to watch for Bank Nifty on 21st October are 52,328 on the upside and 51,809 on the downside. A break and sustain above 52,328 could lead to a strong rally towards the Profit Booking Zone (52,648-52,832), while a breakdown below 51,809 may lead to a sharp correction toward 51,190. Traders should remain cautious within the Opening Resistance/Sideways zone (52,138-52,328) and manage their risk by placing appropriate stop-losses, especially when trading options. Stay disciplined and follow proper risk management strategies to safeguard against potential losses. Disclaimer: I am not a SEBI registered analyst. This plan is based on my personal analysis using technical parameters. Traders are advised to conduct their own research or consult with a financial advisor before making any trading decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BANK NIFTY S/R for 21/10/24Support 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(50 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.
NSE:BANKNIFTY
by zenthosh
BANKNIFTY KEY LEVELS FOR 21/10/2024//@description // All credit goes to Tony for the concept of this indicator. His Trading View link: www.tradingview.com // Note: The calculation method in this indicator differs from Tony's, but the concept is derived from his work. **Explanation:** This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, price range and indiavix. **Entry/Exit Points:** - **Entry/Exit Lines:** Use the BLACK line for long trades and the RED line for short trades, based on confirmation from your trading plan. - **Stop Loss:** For long trades, set the stop loss at the RED line below. For short trades, set it at the BLACK line above. - **Take Profit:** For long trades, target the next RED line above. For short trades, target the next BLACK line below. **Timeframe:** Use a 5 timeframe for trading. **Risk Disclaimer:** This setup is for educational purposes. I'm not responsible for your gains or losses. Check the chart for more details.
NSE:BANKNIFTY
by nandupk
Bank Nifty is stronger than NiftyBN is the stronger compared to Nifty. BN has fallen the maximum according to my analysis this week. Nifty on the other hand is extremely weak as I mentioned earlier. Any rallies on Nifty can get sold into. and we can even look at 24,000 levels in this month. For BN, 50,740 is the crucial Support. If that is breached next week, it will be mayhem on BN and we could possibly find support at 49,350 around the 200 DEMA. I'm done with the trades this week and will now reassess next week as per price action.
NSE:BANKNIFTYShort
by Sky_Tracer
[INTRADAY] #BANKNIFTY PE & CE Levels(18/10/2024)Today will be slightly gap down opening expected in banknifty. Expected opening near 51050 level. After opening if banknifty sustain above 51050 level then possible short correction upto 51450 level. 51450 level will act as a strong upside resistance for today's session. Any bullish rally only expected if banknifty starts trading above 51550 level. Downside in case banknifty gives breakdown of 50950 level then sharp 400-500+ points downside rally expected.
NSE:BANKNIFTY
by TradZoo
BANKNIFTY : Trading Levels and Plan for 18-Oct-2024Intro for 17-Oct-2024 Chart Pattern The Bank Nifty traded with high volatility on 17-Oct-2024, respecting key levels marked in the previous analysis. After attempting to break the last intraday resistance around **51,843**, prices faced rejection and retraced back, testing lower support zones. The day ended with a modest consolidation, hovering around the **51,269.55** mark, hinting at a possible range-bound movement or a significant move depending on how the market opens on 18-Oct-2024. --- Trading Plan for 18-Oct-2024: 1. Gap Up Opening (+200 points from previous close around 51,269): If Bank Nifty opens above **51,515** (Opening Resistance zone), watch for price rejection around **51,625**. Look for shorting opportunities if there is an early pullback, targeting the **51,269** level as the first support. In case of sustained buying, with a strong break above **51,625**, wait for a retest and consider buying above this level. A target of **51,843** (last intraday resistance) can be set for this scenario. Keep a tight stop-loss at **51,443** on the downside if you are going long after the retest of **51,625**. --- 2. Flat Opening (Near previous close 51,269): For a flat opening near **51,269**, the immediate level to watch will be **51,223**. If prices stay below this level in the first 30 minutes, it could indicate bearish pressure. Consider shorting below **51,223**, targeting **51,111** initially. If prices bounce back above **51,269**, we can expect a move toward **51,443** and possibly towards the **51,515** resistance level. A long trade can be taken if there is a strong hourly candle close above **51,443**. Use a stop-loss near **51,111** if taking long positions above **51,443**, as this level represents strong rejection potential. --- 3. Gap Down Opening (-200 points from previous close around 51,269): A gap down opening near **51,111** would bring the strong support zone into play. Watch for a reversal sign near **51,111**. If there is a rejection of lower levels, one can consider buying here with a target of **51,223** for a quick scalp trade. If selling pressure continues and prices break below **51,111**, expect further downside towards **50,720** (Strong Support Zone). A breakdown here can lead to a larger move targeting **50,581**. Consider short positions below **51,111** for this setup. Use a stop-loss above **51,111** if initiating short trades below this zone to protect against sudden reversals. --- **Risk Management Tips for Options Trading:** When trading options, always define your maximum risk beforehand. For intraday trades, avoid holding naked options and consider using spreads to limit losses. Avoid trading OTM options during volatile conditions to prevent rapid time decay and premium erosion. Keep position sizes small when volatility is high, especially near critical levels like **51,515** or **51,111**, where sharp reversals are likely. Consider hedging directional bets with a defined risk strategy, such as buying a put/call spread instead of naked long/short positions. --- **Summary and Conclusion:** For 18-Oct-2024, key levels to watch include **51,515** on the upside and **51,111** on the downside. A gap-up scenario could bring early shorting opportunities near **51,625**, while a gap-down may test the **51,111** support for a potential reversal. For flat openings, patience is required, allowing prices to settle before entering trades. Tight risk management, especially in options trading, is crucial due to expected volatility. --- **Disclaimer:** I am not a SEBI-registered analyst. All levels and views are based on technical and psychological analysis, and traders should do their own research or consult a financial advisor before making any trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
BANK NIFTY S/R for 18/10/24Support 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(50 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.
NSE:BANKNIFTY
by zenthosh
BankNifty Drops! TP1 Hit as Short Trade Gains MomentumOn 17th October, BankNifty presented an opportunity for a short trade following an indecisive first 15-minute candle. The second 15-minute candle provided a clear bearish signal, prompting us to enter the short position at 51615.15. The price has already reached Take Profit 1 (TP1), confirming the initial strength of the bearish move. Key Levels Entry: 51615.15 – The short trade was initiated here after confirming the bearish momentum. Stop-Loss (SL): 51823.35 – Positioned above recent resistance to protect against potential reversals. Take Profit 1 (TP1): 51357.75 – Already achieved, indicating a successful start to the trade. Take Profit 2 (TP2): 50941.30 – The next target as the downward momentum continues. Take Profit 3 (TP3): 50524.85 – A further downside target if selling pressure holds. Take Profit 4 (TP4): 50267.45 – The ultimate target, signaling a significant decline if the trend persists. Trend Analysis The price has moved below the Risological Dotted trendline, confirming a strong bearish trend. With TP1 already hit, further downside movement appears likely as sellers remain in control. The short trade on BankNifty has made a solid start, with TP1 at 51357.75 already reached. The bearish trend suggests that the next targets could be met as momentum remains in favor of the sellers.
NSE:BANKNIFTYShort
by ProfitsNinja