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BANKNIFTY trade ideas

As Banknifty is in Bullish Terrotory but some downside expectedBanknifty is in Bullish mood but whoever knows SMC trading might know some PoI is pending just around 53400 and I am not in any mood to fight with market and get into any bearish trade without following any stop losses. If banknifty touches the 53,400 mark then I will wait for confirmation with double bottom pattern which should must show higher high higher lows and then only I will trade with target upto 54932 for positional basis and for inraday I will trail after 54,200 because at any moment retracement can occur. Hope the chart and marking helps you in next trading sessions.
NSE:BANKNIFTYShort
by gourabvarma
BANKNIFTY : Levels and Plan for 24-Sep-2024In the previous trading session on 23-Sep-2024, Bank Nifty traded in a tight range, attempting to break new highs but facing resistance near 54,263.00. Multiple support levels were tested as buyers showed interest around 53,747.00. The price action suggests potential profit booking at highs, with key levels for both retracement and trend reversals highlighted on the chart. For the upcoming session on 24-Sep-2024, we need to focus on the opening scenario to plan accordingly. Trading Plan for 24-Sep-2024: Gap-Up Opening (+200 points): If Bank Nifty opens above 54,263, the market is likely testing new highs. Profit booking may occur around 54,729, so it's crucial to observe price action at these levels. - In case of a gap-up and rejection near 54,263, shorting opportunities may arise targeting 53,977 (Opening Support). - If it sustains above 54,263 on the first hourly close, expect continuation towards 54,729, where further resistance lies. Flat Opening (±100 points): A flat opening around 54,076.30 will signal market indecision. - Wait for price to settle for 30 minutes and assess whether it holds above 53,977. - If it holds above, a buying opportunity towards 54,263 is valid, with resistance playing a role in deciding the continuation or reversal. - Breaking below 53,977 could lead to a deeper correction towards 53,747 (Important support for trend reversal). Gap-Down Opening (-200 points): If Bank Nifty opens below 53,747, a retest of 53,304 (Buyer's Support) might occur. - Monitor for a potential reversal at 53,304, as it is a key retracement zone. - A break below 53,304 can drive prices lower towards 52,972, signaling a sharp correction. - If reversal signs are strong at 53,304, a bounce back towards 53,747 could provide a good risk/reward buying opportunity. Risk Management Tips for Options Trading: - Keep position sizes small in volatile markets, especially after a 200+ point gap opening. - Use the first 30 minutes of the opening to assess direction before jumping into trades. - In options trading, consider using spreads (buying and selling options at different strike prices) to limit risk. - Set stop losses based on hourly candle closes rather than immediate intraday price moves, as volatility can trigger unnecessary exits. Summary and Conclusion: For 24-Sep-2024, focus on price reactions at key levels such as 54,263, 53,977, and 53,747. Be patient, especially in the first half hour, to let the market settle and confirm the day's direction. Use risk management strategies like limiting position sizes and using spreads to navigate the volatility in options. With strong supports and resistances defined, the session offers potential for both retracement and trend continuation. Disclaimer: I am not a SEBI registered analyst. The above analysis is for educational purposes only, and all traders should conduct their research or consult with their financial advisor before trading.
NSE:BANKNIFTY
by LiveTradingBox
BANK NIFTY S/R for 24/9/24Support 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.
NSE:BANKNIFTY
by zenthosh
BANK NIFTY INTRADAY LEVELS FOR 23/09/2023BUY ABOVE - 53900 SL - 53700 TARGETS - 54110,54300,54500 SELL BELOW - 53700 SL - 53900 TARGETS - 53500,53290,53020 NO TRADE ZONE - 53700 to 53900 Previous Day High - 54100 Previous Day Low - 53020 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:BANKNIFTY
by Jagadheesh_JP
BANKNIFTY : Trading levels and plan for 23-Sep-2024 Introduction: In the previous trading session, Bank Nifty saw a bullish movement, rallying towards the resistance zone at **54,263**, where we anticipate profit booking or sideways consolidation. The price has managed to stay above the opening support at **53,747**, and the chart highlights both potential retracement levels and the upward resistance around **54,729**. Traders should watch for signs of either continuation or correction in the upcoming session. --- Trading Plan for 23-Sep-2024: Considering Opening Scenarios (200+ points gap): Gap Up Opening (200+ points above 53,937): If Bank Nifty opens with a gap up near **54,200 - 54,300**, we are approaching a critical resistance zone. - Look for price action at **54,263**; if it sustains above this level, we could see an upward push towards **54,729**. - However, a failure to break through could lead to profit booking, and a short opportunity may present itself with a stop-loss above **54,300** and a target back towards **53,900**. - Avoid aggressive buying near **54,263**, and instead wait for a confirmed breakout to enter long positions. --- Flat Opening (within 53,800 - 53,950): A flat opening signals a neutral sentiment. - Wait for the price to break either the **53,747** support or **54,263** resistance to take a directional trade. - If Bank Nifty stays in the sideways zone between **53,800 - 54,200**, consider a range-bound strategy (buy at support, sell at resistance). - Watch for consolidation and potential volatility breakout, especially in the second half of the trading day. Keep your stop-loss tight around **53,650**. --- Gap Down Opening (200+ points below 53,747): A gap down near **53,500 - 53,600** would test the lower support levels. - If the price holds above **53,426**, consider buying the dip with a target towards **53,900**. - If Bank Nifty breaks below **53,426**, we may see extended selling towards the next key support at **53,304** or even further down to **52,972**. - Be cautious in this scenario; ensure a stop-loss below **53,400** to protect against deeper corrections. --- Risk Management Tips for Options Trading: - Keep an eye on **implied volatility** (IV); elevated IV can make option premiums expensive, while low IV suggests cheaper options. - Avoid holding long options positions close to expiration, as time decay accelerates (Theta). - Use strategies like **bull call spreads** or **bear put spreads** to limit risk and reduce the impact of time decay. - Always define your **maximum loss** before entering the trade, and never risk more than **2% of your capital** on any single trade. --- Summary and Conclusion: Bank Nifty is at a crucial juncture, with resistance at **54,263** and support at **53,747**. The direction of the market will depend on whether Bank Nifty can break through its resistance or if profit booking takes over. The opening scenarios will provide insights into the day’s trading range, with the **54,729** level acting as a key target for any bullish move, while **53,426** remains a vital support for retracement. Disclaimer: I am not a SEBI registered analyst. All the information provided is based on my own analysis, and you are advised to conduct your own research or consult a financial advisor before making any trades.
NSE:BANKNIFTY
by LiveTradingBox
Bank Nifty LongBank Nifty MTF Analysis Bank Nifty Yearly Demand Breakout 41829 Bank Nifty 6 Month Demand 41829 Bank Nifty Qtrly Demand BUFL 48636 Bank Nifty Qtrly Demand Breakout 53180 Bank Nifty Monthly Demand Breakout 48461 Bank Nifty Weekly Demand BUFL 51994 Bank Nifty Daily Demand BUFL 53353 Bank Nifty 240 Demand BUFL 53354 Bank Nifty 60 Demand BUFL 53110 ENTRY -1 53353 ENTRY -2 51994 Avg 52674 SL 53037 RISK 316 Potential Target 55267 First recovery Target Points 1213 Last Swing Low 52841 Last Swing High 54054 RR 3.84 RR 4%
NSE:BANKNIFTYLong
by pradyammm
BANK NIFTY S/R for 23/9/24Support 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.
NSE:BANKNIFTY
by zenthosh
BankNifty 2300+ Points! MASSIVE MOVE Caught Using RisologicalBankNifty 2300+ Points! MASSIV MOVE Caught Using Risological Swing Trader Guys, This is UNBELIEVABLE!!! My biggest BankNifty trade EVER!!! 2300+ points gain in BankNifty feels like direct access to the holy heaven! Got a clear Entry of this CE side buy trade on 12 Sep 9:15 am at 51,230 price level. The final profit target was at 880+ points anf I was holding 50% of this position which gave me a whopping 2300+ points of the remaining posiion. How did I pull this off? - Use 15m time frame chart - Buy the monthly contract (not weekly). - The monthly contracts are costlier, but it pays off in times like this. - Follow the trend using the Risological swing trader - You can either exit on every TP levels (Take profit), or - Close partially on each level. - Hold 25% of the position till the price reversal happens - Price reversal means - the candle turning red on a long trade and green on a short trade. Hope this helps! Namaste!
NSE:BANKNIFTYLong
by ProfitsNinja
BANK NIFTY S/R for 20/9/24Support 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.
NSE:BANKNIFTY
by zenthosh
BANKNIFTY : Plan and Levels 20-Sep-2024Trading Plan for 20-Sep-2024 Depending on how the market opens (Gap Up, Flat, or Gap Down), different scenarios will come into play. Let’s break them down with over 200-point gap openings considered. Gap Up Opening (200+ Points) In case of a strong gap-up above the 53,171-53,241 resistance zone: 1. If the first 15-minute candle closes above 53,399, look for a breakout trade towards 53,747 (profit booking level). 2. Keep a stop loss at 53,171 on an hourly candle basis to manage risk. 3. If there is a reversal from resistance near 53,399, short positions can be initiated targeting 53,045 with a tight stop loss above 53,399. Action Plan : Buy only if the price sustains above the breakout level or look for reversal opportunities. Flat Opening If Bank Nifty opens near the 53,045 level: 1. Allow the first 30 minutes to settle for price action confirmation. 2. A sustained move above 53,171 could signal a fresh uptrend; consider long positions with a stop loss near 53,045. 3. In case of weakness, wait for a break below 52,944 for short opportunities with targets around 52,757 and further at 52,620. Action Plan : Be patient; wait for price confirmation to avoid choppy trades. Gap Down Opening (200+ Points) A gap down below 52,944 will place Bank Nifty near critical support zones: 1. Look for buying opportunities near 52,757-52,620 (Best Buy Zone) with a stop loss below 52,570. 2. If there is a failure to hold these levels, expect further downside momentum. Short positions can be considered, targeting the 52,400 zone. 3. Wait for a retracement to the 53,045 zone before shorting aggressively, should the gap be recovered intraday. Action Plan : Best to go long on dips unless there’s clear selling pressure after the gap down. Risk Management Tips for Options Trading: - Avoid aggressive buying of OTM options if the market remains range-bound. - Use a stop loss based on hourly candle close rather than immediate price fluctuations to avoid getting trapped in intraday volatility. - Consider spreading the risk by using strategies such as debit spreads instead of naked option buys. Summary and Conclusion: Bank Nifty is currently in a consolidation zone with key support and resistance levels well defined. A breakout above 53,399 could lead to a rally towards 53,747, while failure to hold support near 52,757 could see further downside. Depending on how the market opens, it’s critical to let the price settle in the first 30 minutes and then look for clear entry points based on confirmation. Options traders should avoid high-risk trades and focus on strategies that limit potential losses. Disclaimer: I am not a SEBI registered analyst. This trading plan is for educational purposes, and I encourage traders to perform their analysis or consult a financial advisor before entering any trades.
NSE:BANKNIFTYLong
by LiveTradingBox
BANK NIFY INTRADAY LEVELS FOR 20/09/2024BUY ABOVE - 53290 SL - 53020 TARGETS - 53500,53750,54000 SELL BELOW - 53020 SL - 53290 TARGETS - 52820,52620,52400 NO TRADE ZONE - 53020 to 53290 Previous Day High - 53290 Previous Day Low - 52820 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:BANKNIFTY
by Jagadheesh_JP
2
BANKNIFTY Key levels for 20/09/2024**Explanation:** This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, and price range. **Entry/Exit Points:** - **Entry/Exit Lines:** Use the BLUE 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 BLUE line above. - **Take Profit:** For long trades, target the next RED line above. For short trades, target the next BLUE 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
BankNifty Long Trade 15m TF, 1800+ Points gains on RisologicalBankNifty Long Trade 15m TF, 1800+ Points gains on Risological Oh man! Look at this beauty. Many users on TradingView message me - "Why dont you trade in lower time frames like 1m or 5m?" The thing is, indexes like Nifty, BankNifty and other indexes in Options trading are very volatile and no strategy can accurately work in lower time frames, unless you are a tick trader or quick scalper. Everybody has their own style and preferences when it comes to trading. I am more comfortable trading Nifty and BankNifty in the 15m because: My blood pressure doesn't rise during trading the 15m time frame charts I buy month contracts with at least 15 days to expiry, to catch the big moves like this one. I religiously follow the Risological swing trading indicator, thus avoiding any emotional trading. The result is in front of you! 1800+ points and counting!! Isn't this lovely?
NSE:BANKNIFTYLong
by ProfitsNinja