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BANKNIFTY trade ideas

BANK NIFTY INTRADAY LEVELS FOR 23/08/2024BUY ABOVE - 51080 SL - 50890 TARGETS - 51300,51500,51620 SELL BELOW - 50890 SL - 51080 TARGETS - 50740,50600,50420 NO TRADE ZONE - 50890 to 51080 Previous Day High - 51080 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 👍
NSE:BANKNIFTY
by Jagadheesh_JP
BANK NIFTY 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.
NSE:BANKNIFTY
by zenthosh
BankNifty Prediction for Tomorrow : 23 August 2024BankNifty Prediction for Tomorrow: 23 August 2024 The market was pretty much sideways today. According to the Risological swing trader: The Trailing stop loss is at 50,675 If the event of a gap down tomorrow morning, and closes below 50,675 in 15m candle close, I will be looking at buying PE side positions. If it continues the upside movement, the upper targets are as follows. These are also the resistance zones. Resistance: 51,430 - 52,108 - 52, 527 Trailing stop loss - 50,675
NSE:BANKNIFTYLong
by ProfitsNinja
Bank Nifty Podcast 22 Aug 2024Two trades were taken today. 1st trade was on Gap up/down strategy, here the profit was booked early due to thick line which is the OI line 51000, where there was early rejection and strong resistance from the Call Side. 2nd trade was purely based on Podcast levels with Data positive and 4 department of OI being positive, still the Bank Nifty moved in the another direction and stoploss was hit. Notes: - Gap up/down Strategy needs to be taken if there's enough space based on ATR lines and OI lines or any thick Lines. Although this isn't mandatory, but good to follow. - OI change needs to be checked in realtime, and since NIFTY was on opposite direction of the trade, a straddle of both Bank NIFTY and NIFTY would have worked in the favor. Optional: - Straddle setup at the ATM strikes when NIFTY OI data is positive and Bank NIFTY data is negative or vice versa on both of the indices. - Profit/Loss with 1 lot : Rs.2,000/- - Setup only when the data becomes opposite to each other - Close only when the market closes or profits or stoploss is seen in total MTM - Margin Required for both the straddle setup is 2L
NSE:BANKNIFTY
by gupshupblog
[INTRADAY] #BANKNIFTY PE & CE Levels(22/08/2024)🔔 Bank Nifty Update for Today: 📈 Gap-Up Opening Expected: Expected Opening Level: Near 51000 Initial Bullish Level: Above 51050 Primary Upside Target: 51450+ Extended Upside Target: 51950+ Bank Nifty is expected to open with a gap up near the 51000 level today. If the index starts trading above 51050 after opening, we could see a strong bullish rally, potentially driving the market towards the 51450 target. Should Bank Nifty break through the 51550 level, this rally might extend further, reaching up to 51950 or more. 📉 Watch for Downside Risks: Critical Reversal Level: 50950 Strong Support Level: 50550 However, if Bank Nifty trades below 50950, downside movement could be possible. The 50550 level will serve as a strong support for today's session.
NSE:BANKNIFTY
by TradZoo
BANK NIFTY INTRADAY LEVELS FOR 22 AUG 2024BUY ABOVE - 50740 SL - 50600 TARGETS - 50890,51070,51300 SELL BELOW - 50600 SL - 50740 TARGETS - 50420,50250,50100 NO TRADE ZONE - 50600 to 50740 Previous Day High - 50740 Previous Day Low - 50420 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 : Levels and Plan for 22-Aug-2024The chart from the previous day shows a mix movement in the Bank Nifty, but closing price movement indicating bullish momentum. The price has moved from the lower support levels and is now approaching a crucial resistance zone. The market closed slightly positive with a gain of 56.05 points, reflecting buyer confidence. The key levels to watch for the upcoming trading day on 22-Aug-2024 include the "Must Buy Zone," "Buyer’s Support," and the resistance zones as highlighted in the chart. ### **Trading Plan for 22-Aug-2024** Scenario 1: Gap Up Opening (200+ points) If Bank Nifty opens above the "Opening Resistance" level of 50,881, the first target will be the "Resistance Zone for Sideways" around 51,124-51,261. Consider booking partial profits here and trailing the stop loss. In case of sustained buying, the market may test the "Profit Booking Zone" near 51,635-51,776. This level is crucial as it may trigger profit booking or a strong reversal. Risk Management: Set a stop loss just below the "Opening Resistance" at 50,800 to protect against a reversal. If the market shows weakness, exit the position early to minimize losses. Scenario 2: Flat Opening A flat opening around 50,737 presents an opportunity to trade within the range between the "Opening Support" at 50,682 and the "Opening Resistance" at 50,881. If the price sustains above the "Opening Resistance," look for a move towards the "Resistance Zone for Sideways" at 51,124-51,261. Conversely, if it breaks below the "Opening Support," expect a decline towards the "Buyer's Support" at 50,340-50,400. Risk Management: Set a stop loss below 50,682 if taking a long position or above 50,881 if shorting. This ensures a good risk/reward ratio. Scenario 3: Gap Down Opening (200+ points) A gap down below the "Opening Support" at 50,682 could trigger selling pressure, potentially driving the price towards the "Buyer’s Support" at 50,340-50,400. If this level holds, it may offer a buying opportunity with a target back towards the "Opening Resistance." However, if the market continues to fall and breaches the "Must Buy Zone" around 50,024-50,106, it’s advisable to avoid long positions until a clear reversal signal is observed. Risk Management: Use a tight stop loss below the "Must Buy Zone" to manage risk. Be cautious and avoid over-leveraging in options trading. ### **Risk Management Tips for Options Trading** - Always define your risk before entering any trade. Consider using options strategies like spreads to limit risk while participating in directional moves. - Be mindful of time decay, especially when holding options close to expiry. Avoid holding onto losing positions for too long, as it may lead to rapid premium decay. - Adjust your position size based on market conditions and volatility. In uncertain markets, it’s better to trade smaller and protect your capital. ### **Summary and Conclusion** For 22-Aug-2024, the Bank Nifty shows potential for both upward momentum and possible corrections depending on the opening scenario. Key levels to watch are 50,681, 51,124, and 51,635. Traders should be prepared for volatility and use the outlined levels to plan their trades effectively. Proper risk management and disciplined trading are crucial in navigating the market's potential moves. Disclaimer: I am not a SEBI registered analyst. The above analysis is for educational purposes only and should not be construed as trading advice. Please do your own research or consult a financial advisor before making any trading decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BANK NIFTY S/R for 22/8/24Support 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.
NSE:BANKNIFTY
by zenthosh
BankNifty Prediction for Tomorrow : 22 August 2024Bank Nifty Market Prediction for Tomorrow 22 August 2024 Bank Nifty Today's Market Update -Market went sideways. -It respected and took a support exactly on the Risological dotted Trendline and bounced back. -I am still holding my CE position -If the market takes a gap down tomorrow morning and closes below the Risological dotted line (50,447), I will consider PE side buying. SUPPORT: 50,447 RESISTANCE: 50,751 - 51,429 - 52,107 - 52,526
NSE:BANKNIFTYLong
by ProfitsNinja
BANKNIFTY Podcast 21 Aug 2024Totally two trades taken. First was based on Gap Up/Down Strategy, it didn't hit the 1:1 target, however I noticed another podcast trade and entered with the same PE and closed both the trades. Notes: - Since today was expiry of BankNifty, if Credit Spread was taken on the first trade itself, the profits would've been achieved even if it didn't the 1:1 Target - After the second trade, there was another trade which was being setup, but since the OI data was negative, so didn't give much attention. Although based on the setup, I could've taken with 50% risk with Credit Spread ;)
NSE:BANKNIFTYShort
by gupshupblog
[INTRADAY] #BANKNIFTY PE & CE Levels(21/08/2024)🔔 Bank Nifty Update for Today’s Expiry Session: 📈 Gap-Up Opening Expected: Expected Opening Level: Near 51000 Key Level: 51050 Potential Upside Target: 51450+ Today, Bank Nifty is anticipated to open with a gap up near the 51000 level. If the index sustains above this level after opening and starts trading above 51050, we could see a strong upside rally of 400-500 points, potentially reaching up to 51450+ during today’s expiry session. 📉 Watch for Downside Risks: Critical Reversal Level: 50950 Support Level: 50550 Major Downside Level: 50450 However, if Bank Nifty fails to sustain above 51000 and shows signs of reversal around 50950, downside movement is possible. The 50550 level will act as support for today’s session, with a major downside expected only if the index breaks and starts trading below 50450.
NSE:BANKNIFTY
by TradZoo
BANK NIFTY INTRADAY LEVELS 21/08/2024BUY ABOVE - 50740 SL - 50600 TARGETS - 50890,51070,51300 SELL BELOW - 50600 SL - 50740 TARGETS - 50420,50250,50100 NO TRADE ZONE - 50600 to 50740 Previous Day High - 51020 Previous Day Low - 50420 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 - Levels and Plan for 21-Aug-2024On 20-Aug-2024, Bank Nifty showed mixed market behavior, with resistance around 50,973 and critical support at 50,652 and 50,440. As we approach 21-Aug-2024, we must focus on how Bank Nifty reacts to a gap opening of 200+ points. Here’s the detailed trading plan considering various scenarios for such a gap opening. Gap Up Opening (200+ Points) If Bank Nifty opens significantly higher, around or above the 51,150 resistance level, traders should be cautious about entering trades right at the open. Entry: Wait for a pullback towards 50,973 or 51,150. If the price sustains above these levels, consider entering a long position. Target: The first target would be the profit booking zone at 51,316, with an extended target towards 51,425. Stop Loss: Place a stop loss slightly below 50,973 to protect against any reversal back into the gap. If the price shows signs of rejection around the 51,150 level, indicating a potential exhaustion gap, be cautious about holding long positions. Alternative Plan: If the price drops below 51,150 after a gap-up, consider shorting towards 50,973, with a stop loss above 51,150. Flat Opening If Bank Nifty opens flat near 50,719, the trading day could be less volatile compared to a large gap opening. Traders should prepare for both upward and downward price movements. Entry: For a bullish move, wait for a breakout above 50,973 to enter long positions. For a bearish move, look to short if the price breaks below 50,652. Target: For long positions, aim for 51,150; for short positions, target 50,440. Stop Loss: Place stop losses below 50,652 for longs and above 50,973 for shorts. This approach allows you to capitalize on the market's directional move, regardless of whether it trends upward or downward. Gap Down Opening (200+ Points) If Bank Nifty opens significantly lower, near or below the 50,440 support level, it indicates a bearish sentiment for the day. Entry: Consider shorting on a pullback towards 50,440 if this level now acts as resistance. If the price sustains below this level, continue to hold the short position. Target: The target for short positions would be around the **"Must Buy Zone"** at 50,188. Stop Loss: Place a stop loss above 50,440 to safeguard against any recovery attempts. If the market attempts to recover after the gap-down opening, it may present an opportunity for a reversal trade. Alternative Plan: If the price climbs back above 50,440, consider a long position, targeting 50,652 as the initial level and 50,973 if momentum continues. Risk Management Tips for Options Trading Position Sizing: On volatile days like this, reduce your position size to minimize risk exposure. Time Decay Consideration: Given the time decay in options, especially near expiry, consider trading options with strikes near the market price for better liquidity and lower time decay impact. Protective Strategies: Use protective puts or call spreads to hedge against significant losses. Avoid Impulsive Trades: Stick to your trading plan and avoid impulsive trades, as emotional decisions can lead to significant losses. Summary and Conclusion The trading plan for 21-Aug-2024 emphasizes the importance of reacting to the market's response to a 200+ point gap opening. Whether the market gaps up or down, identifying key levels like 51,150 and 50,440 will be crucial for effective trading. Proper risk management, especially in options trading, is vital to navigating the day's volatility. Disclaimer: I am not a SEBI-registered analyst. The trading plan shared above is based on personal analysis and is for educational purposes only. Please trade responsibly and consult with your financial advisor before making any trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
BANKNIFTY - Levels and Plan for 21-Aug-2024On 20-Aug-2024, Bank Nifty showed mixed market behavior, with resistance around 50,973 and critical support at 50,652 and 50,440. As we approach 21-Aug-2024, we must focus on how Bank Nifty reacts to a gap opening of 200+ points. Here’s the detailed trading plan considering various scenarios for such a gap opening. Gap Up Opening (200+ Points) If Bank Nifty opens significantly higher, around or above the 51,150 resistance level, traders should be cautious about entering trades right at the open. Entry: Wait for a pullback towards 50,973 or 51,150. If the price sustains above these levels, consider entering a long position. Target: The first target would be the profit booking zone at 51,316, with an extended target towards 51,425. Stop Loss: Place a stop loss slightly below 50,973 to protect against any reversal back into the gap. If the price shows signs of rejection around the 51,150 level, indicating a potential exhaustion gap, be cautious about holding long positions. Alternative Plan: If the price drops below 51,150 after a gap-up, consider shorting towards 50,973, with a stop loss above 51,150. Flat Opening If Bank Nifty opens flat near 50,719, the trading day could be less volatile compared to a large gap opening. Traders should prepare for both upward and downward price movements. Entry: For a bullish move, wait for a breakout above 50,973 to enter long positions. For a bearish move, look to short if the price breaks below 50,652. Target: For long positions, aim for 51,150; for short positions, target 50,440. Stop Loss: Place stop losses below 50,652 for longs and above 50,973 for shorts. This approach allows you to capitalize on the market's directional move, regardless of whether it trends upward or downward. Gap Down Opening (200+ Points) If Bank Nifty opens significantly lower, near or below the 50,440 support level, it indicates a bearish sentiment for the day. Entry: Consider shorting on a pullback towards 50,440 if this level now acts as resistance. If the price sustains below this level, continue to hold the short position. Target: The target for short positions would be around the **"Must Buy Zone"** at 50,188. Stop Loss: Place a stop loss above 50,440 to safeguard against any recovery attempts. If the market attempts to recover after the gap-down opening, it may present an opportunity for a reversal trade. Alternative Plan: If the price climbs back above 50,440, consider a long position, targeting 50,652 as the initial level and 50,973 if momentum continues. Risk Management Tips for Options Trading Position Sizing: On volatile days like this, reduce your position size to minimize risk exposure. Time Decay Consideration: Given the time decay in options, especially near expiry, consider trading options with strikes near the market price for better liquidity and lower time decay impact. Protective Strategies: Use protective puts or call spreads to hedge against significant losses. Avoid Impulsive Trades: Stick to your trading plan and avoid impulsive trades, as emotional decisions can lead to significant losses. Summary and Conclusion The trading plan for 21-Aug-2024 emphasizes the importance of reacting to the market's response to a 200+ point gap opening. Whether the market gaps up or down, identifying key levels like 51,150 and 50,440 will be crucial for effective trading. Proper risk management, especially in options trading, is vital to navigating the day's volatility. Disclaimer: I am not a SEBI-registered analyst. The trading plan shared above is based on personal analysis and is for educational purposes only. Please trade responsibly and consult with your financial advisor before making any trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
BNF for 21 AugustAfter the ups and downs of the last several days, today the market has given a breakout on a big time frame and now the market is retracing. And small investors are moving out. A good profit booking can come till 50565. According to me, the market will remain below its red mark for one or two days, which does not mean that there is any negative sentiment in the market. Market will touch 50565 and then be ready for ₹52000. Sentiment : Pure Bullish until 50500 break. Every dip will be for fresh buying and new positions for next expiry.
NSE:BANKNIFTYLong
by optionhunting
BANK NIFTY S/R for 21/8/24Support 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.
NSE:BANKNIFTY
by zenthosh