BANKNIFTY trade ideas
[INTRADAY] #BANKNIFTY PE & CE Levels(29/08/2024)Flat opening expected in banknifty near 51000 support level. Expected upside reversal from this level towards the 51450+ target. In case banknifty gives breakdown and starts trading below 50950 level then possible strong downside fall upto 400-500+ points.
Bears is coming Banknifty chart looking weaker compared to nifty...500 to 700 points can be collected easily if this plan works tomorrow or next day😇
BNF For 29 AugustTill 10.30 MArket may be bearish and after that market may recover sharply..
senario: 125 -196 point down then recover
BANK NIFTY INTRADAY LEVELS FOR 28/08/2024BUY ABOVE - 51260
SL - 51080
TARGETS - 51500,51620,51750
SELL BELOW - 51080
SL - 51260
TARGETS - 50890,50740,50600
NO TRADE ZONE - 51080 to 51260
Previous Day High - 51260
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 👍
Bank Nifty Podcast 28 Aug 2024Today, I had taken only 1 trade.
The trade was taken as per podcast levels, although data was negative and 3 out of 4 OI departments were negative, so PE side was taken with 50% risk using Credit Spread Strategy of same expiry strikes.
BANKNIFTY : Levels and Plan for 29-Aug-2024On 28th August 2024, Bank Nifty showed a mix of consolidation and retracement after an initial drop, with clear resistance and support zones marked out. The index faced selling pressure around the 51,324 level and found support near the 50,914 zone. These levels will be critical as we approach the trading day on 29th August 2024.
**Trading Plan for 29-Aug-2024:**
1. Gap Up Opening (200+ Points Above 51,324)
If Bank Nifty opens with a gap up above 51,324, the first resistance to watch is 51,489. A sustained move above this level can push the index towards the last resistance for the intraday at 51,553.
**Strategy:** Look for a quick pullback towards 51,324 for a buying opportunity, targeting 51,489 and 51,553. Use tight stop losses to protect against a reversal.
**Risk Management:** If 51,324 fails to hold, avoid aggressive longs and consider shorting below 51,189 with a target near 51,049.
2. Flat Opening (Around 51,049-51,189)
A flat opening near the current price range could lead to some early volatility as traders react to overnight cues.
**Strategy:** Focus on the 51,324 resistance for potential shorting opportunities. If Bank Nifty fails to break this level, initiate shorts with targets at 51,049 and further down at 50,914.
**Risk Management:** Keep stop losses tight above 51,324 to prevent getting caught in a false breakout.
3. Gap Down Opening (200+ Points Below 50,814)
A gap down below 50,814 would signal a weak sentiment and could lead to further downside, especially if the opening support at 50,914 fails to hold.
**Strategy:** Consider shorting on a pullback towards 50,814 with a stop loss just above it, targeting 50,528 as the next major support.
**Risk Management:** If 50,914 support holds strong, look for a quick scalp to the upside but remain cautious of any retracement towards 50,814.
Tips for Options Trading & Risk Management:
- **Avoid buying OTM options** on days with high volatility as premiums can erode quickly if the market reverses.
- **Use spreads** like Bull Call Spread or Bear Put Spread to minimize risk in volatile conditions.
- **Adjust positions quickly** if the market moves against you, especially in scenarios of gap openings.
**Summary & Conclusion:**
29th August 2024 presents a crucial day for Bank Nifty with key levels like 51,324 and 50,914 in play. Depending on the opening scenario, traders should adapt their strategies to either capitalize on breakouts or protect against reversals. Risk management remains paramount, especially for options traders, given the heightened volatility.
Disclaimer: I am not a SEBI registered analyst. This analysis is for educational purposes only and should not be considered as financial advice. Traders are advised to conduct their analysis or consult with a financial advisor before making any trading decisions.
BankNifty Update - Bearish Sign on 15m Chart
On 15m time frame, BankNifty has closed with a red candle at 3:30pm
This is a bearish sign and a confirmation for PE side buying. Tomorrow, we might see a continuation on the down side.
Entry, stop loss and profit targets have been marked for your reference.
All the best!
[INTRADAY] #BANKNIFTY PE & CE Levels(28/08/2024)🔔 Bank Nifty Update for Today:
📊 Expected Opening:
Opening Outlook: Flat
📈 Consolidation Zone:
Range: 51050 - 51450
Bank Nifty is expected to open flat today. The levels between 51050 and 51450 are likely to be a consolidation zone.
📈 Potential Upside Movement:
Strong Rally: Expected if Bank Nifty starts trading above 51550
If Bank Nifty breaks out above 51550, a strong upside rally is anticipated.
📉 Downside Risk:
Major Downside: Only expected if the index breaks down below 50950
Any significant downside is likely only if Bank Nifty gives a breakdown below 50950.
Bank Nifty Bank Nifty moving within a rising channel 📈. Keeping a close watch on the next breakout or breakdown! 🔍💹
BANK NIFTY INTRADAY LEVELS FOR 28/08/2024BUY ABOVE - 51260
SL - 51080
TARGETS - 51500,51620,51750
SELL BELOW - 51080
SL - 51260
TARGETS - 50890,50740,50600
NO TRADE ZONE - 51080 to 51260
Previous Day High - 51400
Previous Day Low - 50890
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 👍
BANKNIFTY : Levels and Plan for 28-Aug-2024On 27-Aug-2024, BankNifty showed a downward trend after facing resistance near the 51,479 level. The index retraced to test support around the 51,127 zone. The chart indicates that 51,127 is a crucial support level, while resistance levels are observed at 51,479 and 51,660. With this price action in mind, here's a detailed trading plan for 28-Aug-2024, considering potential gap openings.
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Trading Plan for 28-Aug-2024:
1. Gap Up Opening (200+ points):
If Bank Nifty opens above 51,479, expect initial resistance around the 51,660-51,612 zone (Intraday Profit Booking Zone).
Wait for a pullback towards the 51,479-51,431 zone for a better entry point.
Initiate a long position if Bank Nifty sustains above 51,479 after a pullback with a target of 51,660 and a stop loss (SL) around 51,431.
2. Flat Opening:
If Bank Nifty opens flat around 51,171, monitor the price action around the Opening Support zone (51,127).
A break below 51,127 could lead to a decline towards Buyer’s Support at 50,880-50,816.
Consider shorting below 51,127 with a target of 50,880 and an SL at 51,214.
3. Gap Down Opening (200+ points):
If Bank Nifty opens below 50,880, it might test the Buyer’s Support zone at 50,816-50,527.
A bounce from this support can be used to enter long positions with a target back to 51,127 and an SL near 50,816.
However, a failure to hold 50,527 may lead to further downside, and shorting below this level can be considered with a target of 50,335.
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Risk Management Tips for Options Trading:
Maintain strict stop losses to manage risk, especially when trading near critical support and resistance zones.
Avoid holding options positions overnight in a highly volatile market environment.
Use hedging strategies like spreads to limit potential losses.
Keep an eye on implied volatility and avoid buying options when volatility is extremely high.
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**Summary and Conclusion:**
Bank Nifty is likely to exhibit volatility with strong support and resistance levels clearly defined. A gap up may offer a good long opportunity, while a flat or gap down opening could present shorting opportunities. Be prepared for various scenarios and ensure strict risk management. Always stick to your trading plan and stop losses.
**Disclaimer:** I am not a SEBI registered analyst. The above analysis is for educational purposes only. Please do your own research or consult with a financial advisor before making any trading decisions.
BNF for 27 AugustIn current situation market is already recovered 3.7 percent from bottom. It may be tomorrow seller lead the market and use sideways streatgy.
So theta decay can be seen tomorrow market.
Bank Nifty Podcast 27 Aug 2024Took two trades today.
1st trade was taken with 50% risk which means instead of max loss of 1000, I took only 1 lot with 500 risk. The 50% risk was taken because OI data was completely positive and 4 departments were "Bullish".
2nd trade was taken with maximum conviction as the data was positive and 4 departments were "Bullish", but looks like Bank Nifty had some other plans. The market remained sideways for sometime which resulted in decay in the premiums.
Notes:
- Never take any trade even with 50% risk, because sometimes "No trade is also good trade"
- 2nd trade should have been taken with debit spread as next day is expiry and already Bank Nifty had moved more than 200 points.
Nifty and Bank Nifty analysis for tomorrow, 28th AugustNifty prediction and Bank Nifty analysis for tomorrow Wednesday, 28th August #niftyprediction #banknifty
BankNifty Analysis - 15 min timeframeObservations:
Market Conditions:
Market State: Bearish, with the current market session indicating no clear trend but showing weakness.
Strength: Weak, as indicated by the dashboard.
RSI: 41.47, which is near the neutral zone but leaning towards the bearish side.
Volatility: At 44.57%, indicating moderate price fluctuations.
Price Action and Key Levels:
Swing High: Marked just below a supply zone, indicating the price met resistance and reversed.
Previous Day High: Marked at 51317.85, close to the supply zone, suggesting significant resistance in this area.
Support Levels:
Previous Day Low: 51061.55, which was tested recently.
Bullish Above: 51040.7, indicating a potential area where bullish momentum could return if the price breaks above.
Bearish Below: 50938.1, marking a critical support level, below which further bearish movement could be expected.
Candlestick Pattern:
The recent candles show a sharp decline, followed by some consolidation.
The current price is near a support zone, which may either hold and lead to a reversal or break and lead to further decline.
Interpretation and Trading Signal:
Current Sentiment: The overall sentiment is bearish, with the price failing to hold above key resistance levels and now hovering near support.
Potential Scenarios:
Bearish Scenario: If the price breaks below 50938.1, a strong bearish move could follow, potentially targeting lower support zones. Traders could consider entering short positions with a stop-loss just above the breakdown level.
Bullish Scenario: If the price manages to break above 51040.7, there could be a short-term reversal or corrective move. Long positions could be considered with a tight stop-loss to manage risk.
BANKNIFTY - OPPORTUNITY OR FAKE OUTWe are standing at daily trendline which if broken today or 2moro then short covering in banknifty will not let people to enter in longs. It might be very fast in my view. The bears are pushing it below, but bull have Favour of natural technical. Breakout may give higher price upto 53k in BANKNIFTY.
Its not a recommendation but a view...posting chart after a long time....! excuse me
[INTRADAY] #BANKNIFTY PE & CE Levels(27/08/2024)🔔 Bank Nifty Update for Today:
📊 Expected Opening:
Opening Level: Slightly flat near yesterday’s close
📈 Potential Upside Movement:
Primary Upside Target: 51450+
Extended Upside Target: 51950+ (upon breakout above 51550)
Bank Nifty is expected to open slightly flat, near yesterday’s closing level. After the opening, there is a possibility of an upside rally reaching 51,450 or higher. If Bank Nifty breaks out above the 51,550 level, this rally could extend further, potentially reaching up to 51,950.
📉 Support Level:
Strong Support: 51000
The 51000 level will act as a strong support for today’s session, providing a key level to watch in case of any downside movement.
BANKNIFTY : Levels and Plan for 27-Aug-2024On 26-Aug-2024, Bank Nifty displayed a consolidation phase after a sharp up move. The price respected key levels, with a clear rejection near the "Opening Resistance & Support" zone around 51,381. The session ended near 51,163.35, indicating that the market is at a crucial junction where both bulls and bears are gearing up for the next move.
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**Trading Plan for Different Opening Scenarios on 27-Aug-2024:**
**1. Gap Up Opening (200+ points):**
Levels to Watch:
51,536 - 51,580 (Profit Booking Zone)
51,423 - 51,381 (Opening Resistance & Support)
If Bank Nifty opens with a gap up above 51,423, it’s crucial to observe the price action at the 51,536 - 51,580 zone. This is a Profit Booking Zone and could witness selling pressure.
If the price consolidates below 51,536 and fails to break 51,580 decisively, consider taking a short position with a stop loss above 51,600 for a target of 51,423 and 51,381.
On the contrary, if it sustains above 51,580 with strong momentum, look for buying opportunities on retracement towards 51,536, with a target of 51,700+.
**2. Flat Opening:**
Levels to Watch:
51,160 - 51,120 (Immediate Support)
51,381 - 51,423 (Immediate Resistance)
In case of a flat opening near 51,163.35, the market may continue to remain within the immediate support and resistance levels (51,120 to 51,423).
If the price sustains above 51,160, consider a long position with a target of 51,381 - 51,423. A breakout above 51,423 may lead to an upward move toward 51,536.
If the price breaks below 51,120 and sustains, look for shorting opportunities with a target of 51,103 and further towards 50,979.
**3. Gap Down Opening (200+ points):**
Levels to Watch:
\t
51,103 - 51,120 (Key Support Zone)
50,979 - 50,906 (Buyer's Support at retracement)
A gap down below 51,120 could lead to increased volatility. The first support zone to watch will be between 51,103 and 51,120.
If the market stabilizes and holds above 51,103, consider going long for a quick bounce back to 51,160 and possibly to 51,381.
If it breaches 51,103, anticipate further downside towards 50,979 - 50,906, where buyers might step in. A short position below 51,103 with targets in this range could be rewarding.
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**Risk Management Tips for Options Trading:**
Avoid holding onto a losing position; define your stop loss and stick to it strictly.
Consider using options spreads like Bull Call Spreads or Bear Put Spreads to limit risk while capitalizing on directional movements.
Focus on at-the-money or slightly out-of-the-money options to balance risk and reward.
Keep position sizing moderate to avoid large losses on unexpected market moves.
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**Summary & Conclusion:**
The market is poised for significant moves on 27-Aug-2024, especially with the potential for a gap opening. The key levels provided should be closely monitored for signs of strength or weakness. Whether it’s a gap up, flat, or gap down opening, each scenario offers opportunities for strategic trades. Risk management remains paramount to ensure that losses are kept minimal while riding the market’s direction.
Disclaimer: I am not a SEBI registered analyst. The above analysis and trading plan are for educational purposes only. Please consult with your financial advisor before making any trading decisions.
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This trading plan is designed to offer clear guidance on possible market movements for 27-Aug-2024, allowing traders to approach the day with a prepared strategy and solid risk management.
BANK NIFTY INTRADAY LEVELS FOR 27/08/2024BUY ABOVE - 51300
SL - 51080
TARGETS - 51500,51620,51750
SELL BELOW - 51080
SL - 51300
TARGETS - 50890,50740,50600
NO TRADE ZONE - 50890 to 51080
Previous Day High - 51300
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 👍
Bank Nifty Analysis (1D Chart)
Bank Nifty is currently testing a crucial resistance zone at the 0.618 Fibonacci retracement level of **51,318.25**. This level is known for being one of the strongest resistances in bearish Fibonacci setups, often marking a potential reversal point.
The market is at a critical "make or break" level. A decisive break above this 0.618 level could invalidate the bearish setup and lead to a bullish continuation, potentially targeting the next resistance at the 0.786 level of **51,771.20**.
However, if Bank Nifty fails to break this resistance, it may resume its downtrend, with the next support levels being the 0.5 Fibonacci level at **51,000.15** and the 0.382 level at **50,682.00**.
Traders should closely watch the price action around the 0.618 level, as it will likely determine the next major move in Bank Nifty.
