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BANKNIFTY trade ideas

BANKNIFTY CORRECTIVE RALLY OR IMPULSEBased on the chart analysis, the following observations can be made: A double correction in the form of a wxy pattern was completed near the price level of 49,650 on August 14, 2024. Subsequently, Wave 1, consisting of five subdivisions, was completed. Wave 2 concluded on September 9, 2024, at a price level of 50,370. A smaller degree five-wave pattern was completed on September 11, 2024, with a price level of 51,420. Currently, it appears that we are in the third wave on a smaller time frame, with support at 51,754. Given the current trajectory, the price level of 52,639 may be achieved soon. Disclaimer : This analysis is based on historical price data and technical patterns and is for informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any securities. Please consult with a financial advisor before making any investment decisions. Regards
NSE:BANKNIFTY
by imkhushal
2
Bank Nifty Podcast 13 Sep 2024There were three setups available, out of which two setups were taken based on Option Chain Data. Setup #2 - Stoploss Hit, although the Changing in OI data was positive and all the four departments were "Bullish". Setup #3 - I was ready to take another trade on CE side, due to data being highly positive. --------- Notes: - Taking trade without data is risky, as even with 50% risk the stoploss increases the loss as equal as taking 100% complete trade. So I would always avoid such trade and hold my nerves to avoid FOMO of getting into any such trades.
NSE:BANKNIFTYLong
by gupshupblog
Nifty Bank Index (Bank Nifty) - Daily Time Frame AnalysisTechnical Analysis: 1. Overall Trend: The Bank Nifty is showing signs of consolidation in the recent past, as it has been moving within a range between 51,000 and 53,200. The index recently bounced off its support near 50,800 and is testing resistance at around 52,000. 2. Support and Resistance Levels: Resistance Levels: Immediate resistance at 52,000-52,200 (recent swing high). Strong resistance at 53,000-53,200 (near previous highs). Support Levels: Immediate support at 51,600 (yesterday’s low). Strong support at 50,800-51,000 (previous consolidation area). Further support near 49,800 if the price breaks below the key levels. 3. Candlestick Patterns (Last 11 Candlesticks): The past 11 candlesticks suggest indecision and range-bound behavior. There are alternating red and green candles, showing that both buyers and sellers are battling for control. No clear momentum is visible yet for a strong breakout or breakdown. 4. Volume: Volume levels are slightly lower than the average (volume moving average is around 154 million, and the recent day’s volume is around 151 million). If we see increasing volume with a breakout above resistance or a breakdown below support, it would be a strong confirmation. Intraday Support and Resistance Calculation Using Last 11 Candlesticks: 1. Pivot Points: Pivot (P): 51,538 Resistance (R1): 52,039 Support (S1): 51,040 Resistance (R2): 52,340 Support (S2): 50,739 2. Fibonacci Levels (Recent High-Low): Fibonacci Resistance (61.8%): 52,200 Fibonacci Support (38.2%): 51,250 💡 Day Trading Strategy: If Bank Nifty breaks above 52,200 with strong volume, consider long positions with a target of 52,800-53,000. If it breaks below 51,040, short positions can be considered with a target of 50,800-50,500.
NSE:BANKNIFTY
by TradeAXN
BANKNIFTY KEY LEVELS FOR 16/09/2024**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 GREEN 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 GREEN line above. - **Take Profit:** For long trades, target the next RED line above. For short trades, target the next GREEN 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 : LEVELS AND PLAN FOR 13-SEP-2024 Trading Plan for 13th September 2024 Gap Up Opening (+200 points): If Bank Nifty opens above 51,980, near or inside the resistance zone (52,125 – 52,427), wait for the first 30 minutes to confirm price action. A rejection from this zone could lead to a potential shorting opportunity, targeting the support levels around 51,703 or even 51,597. However, if an hourly candle closes above 52,427, fresh buying can be considered, with a target towards 52,633, the profit-booking zone. less Copy code Strategy: - Short near 52,125 with a stop loss above 52,427. - Target: 51,703/51,597. Flat Opening: A flat opening around 51,668 would mean the price is close to the opening support of 51,703. If prices hold this level, a potential rebound could happen, targeting the resistance zone near 51,980. Traders should wait for the first 30 minutes to see if the support holds. A breakdown below 51,597 could lead to further downside towards 51,346. less Copy code Strategy: - Buy above 51,703 with a stop loss below 51,597. - Target: 51,980/52,125. Gap Down Opening (-200 points): In case of a gap down opening near 51,346 or lower, the support at retracement zone becomes critical. If the 51,346 level holds, traders can look for buying opportunities with a short-term target towards 51,597. However, if the gap down takes prices below 51,119, it signals weakness, and traders should prepare for a sideways or bearish move. less Copy code Strategy: - Buy near 51,346 with a stop loss below 51,119. - Target: 51,597/51,703. Risk Management Tips for Options Trading: Use options spreads to minimize risk if volatility is high. If trading directional, ensure positions are within a predefined risk range (2%-3% of your capital). Always keep an eye on time decay, especially if trading towards the expiry week. Avoid trading OTM options near strong support or resistance as sharp reversals may occur. Summary & Conclusion: Bank Nifty is currently in a critical zone where price action near the resistance and support levels will dictate future movements. Traders should focus on the 52,125 resistance and 51,346 support. A break above 52,427 could open a fresh buying opportunity, while a breakdown below 51,346 could signal a bearish outlook. Traders are advised to wait for clear confirmations, especially during the first 30 minutes of market opening. Disclaimer: I am not a SEBI-registered analyst. All ideas are shared for educational purposes. Please conduct your own analysis or consult a financial advisor before taking any trades.
NSE:BANKNIFTYLong
by LiveTradingBox
BANK NIFTY INTRADAY LEVELS FOR 13/09/2024BUY ABOVE - 51750 SL - 51550 TARGETS - 51880,51990,52140 SELL BELOW - 51550 SL - 51750 TARGETS - 51400,51230,51080 NO TRADE ZONE - 51550 to 51750 Previous Day High - 51880 Previous Day Low - 51080 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
BANK NIFTY INTRADAY LEVELS FOR 12/09/2024BUY ABOVE - 51120 SL - 50970 TARGETS - 51260,51400,51550 SELL BELOW - 50970 SL - 51120 TARGETS - 50860,50740,50600 NO TRADE ZONE - 50970 to 51120 Previous Day High - 51400 Previous Day Low - 50970 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
BANK NIFTY S/R for 12/9/24Support 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 : Levels for 12-Sep-2024Trading Plan for 12th September 2024: We will consider all scenarios for market opening with a gap of 200+ points. Follow the trading plan that matches the market’s opening behavior: Gap Up Opening (+200 points or more): If Bank Nifty opens above 51,300, it is essential to monitor the price action near the Resistance at BoS zone (51,601-51,705). - Wait for the first 15-minute candle to close above 51,705 to confirm strength. - If the market sustains above this level, initiate long positions with a target towards the profit booking zone at 51,981–52,086. - Place a stop loss at 51,450 on a closing basis for risk management. If Bank Nifty faces rejection at the 51,705 level, look for shorting opportunities targeting the "No Trade Zone" around 51,056. A reversal from the resistance area may indicate profit booking by institutions. Flat Opening (within 200 points): If Bank Nifty opens around 51,100-51,050, avoid trading within the "No Trade Zone" (51,056-50,892). - Wait for a clear breakout above 51,300 or a breakdown below 50,892 to enter trades. - For a breakout above 51,300, target 51,601 with a stop loss at 51,100. - For a breakdown below 50,892, target the Buyer’s Support zone at 50,591 with a stop loss just above 50,950. Gap Down Opening (-200 points or more): If Bank Nifty opens below 50,892, pay attention to the Buyer’s Support zone at retracement (50,591). - If the support holds, enter long positions with a target back towards 50,892-51,056. - Place a stop loss at 50,550 on a closing basis. If Bank Nifty breaks below 50,591, expect further downside towards the "Must Try Zone" near 50,131–49,990. Look for signs of reversal before initiating long positions in this zone, and set a tight stop loss below 50,000 for safety. Risk Management Tips for Options Trading: - Ensure proper position sizing by not risking more than 1-2% of your total capital on a single trade. - For buying options, choose ATM strikes when expecting moderate moves, and OTM strikes only when anticipating strong directional movement. - Use a trailing stop loss to safeguard profits, especially in high volatility options trading. - Monitor time decay closely, especially if the market stays within the "No Trade Zone" for an extended period. Summary and Conclusion: For 12th September 2024, Bank Nifty is positioned near key resistance and support levels. A gap up may face resistance at the BoS zone, while a flat or gap down opening could test the lower support zones. It's crucial to follow price action around these levels before entering trades. Adopting a disciplined risk management approach is vital to handle intraday volatility, especially when trading options. Disclaimer: I am not a SEBI registered analyst. The analysis and trading plans shared are based on my own technical insights and personal experience. Please conduct your own research or consult with a certified financial advisor before making any trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
BANKNIFTY KEY LEVEL FOR 12/09/2024**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 GREEN 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 GREEN line above. - **Take Profit:** For long trades, target the next RED line above. For short trades, target the next GREEN 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 S/R for 11/9/24Support 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