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BANKNIFTY trade ideas

BANK NIFTY INTRADAY LEVELS FOR 24/07/2024BUY ABOVE - 52400 SL - 52200 TARGETS - 52620,52800,53000 SELL BELOW - 51700 SL - 52000 TARGETS - 51370,51120,50950 NO TRADE ZONE - 51700 to 52000 Previous Day High - 52320 Previous Day Low - 52370 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 24/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support. Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline. Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities. Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement. 20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend. Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
NSE:BANKNIFTY
by zenthosh
Bank Nifty Prediction for 24-07-2024: Support & Resistance LevelIn today's session, Bank Nifty experienced significant volatility, trading within a range of 52,500 to 51,300. The index found support at the levels identified in yesterday's analysis. Changes in the capital gains tax led to unpredictable market behavior, resulting in the index closing deeply in the red. The current setup for Bank Nifty is not particularly bullish; however, it is oversold, suggesting potential for a rebound. However, breakdown of rising wedge pattern can lead to a initial dip upto 50,500 in times to come. Key Takeaways from Union Budget 2024 on Banking: The Union Budget 2024 has introduced several measures to enhance the banking sector, with a strong emphasis on boosting credit flow to MSMEs and strengthening the financial ecosystem. Focus on MSME Lending: Credit Guarantee Scheme: The government is reinforcing the credit guarantee scheme to ensure continued bank credit to MSMEs during stressful periods. Mudra Loan Limit Increase: The Mudra loan limit has been raised from ₹10 lakh to ₹20 lakh, offering more financial support to small businesses. TReDS Onboarding: The turnover threshold for mandatory onboarding on the TReDS platform has been reduced from ₹500 crore to ₹250 crore, facilitating faster payments to MSMEs. In-House Credit Assessment Capability: Public sector banks are required to develop in-house capabilities for credit assessment of MSMEs to streamline the lending process. Other Important Points: Financial Stability: The budget highlights the importance of maintaining financial stability and supporting infrastructure development through continued fiscal support. Capital Expenditure: A substantial allocation of ₹11.11 lakh crore for capital expenditure has been announced, which is expected to boost economic growth and create job opportunities. The above content has been sourced from internet. Bank Nifty Prediction for Tomorrow: Support Levels: The first support level is at 51,600, with stronger support between 51,200 and 51,000 on an intraday basis. Resistance Levels: On the upside, the initial resistance is at 52,000, with subsequent resistance between 52,300 and 53,600. If this range is breached, the major resistance level is at 52,800 to 53,000. Technical Indicators for Bank Nifty Prediction: Max Pain: 51,900 PCR (Put-Call Ratio): 0.48 Over Sold IV (Implied Volatility): 21.32 as of the closing on 23-07-2024. Stay tuned for more updates on Bank Nifty and the Bank Nifty prediction for tomorrow to navigate the volatile market conditions effectively. Disclosure: I am not SEBI registered. The information provided is for educational purposes only and should not be considered financial advice. Consult a qualified financial advisor before making any investment decisions. Social media shares on any platform are not endorsed or supported by the publisher.
NSE:BANKNIFTY
by shvishal
Bank Nifty Prediction for 23-07-2024: Support & Resistance LevelThe Bank Nifty index has been consolidating within a defined range over the past few weeks, forming a rectangle pattern on the technical charts. Currently, the immediate support levels for the index are around 51,750 and 51,250, while the resistance is observed at 52,800. A breakout from either support level could trigger a significant directional move, given the prior consolidation. Traders are advised to exercise caution and consider buying opportunities only if there is a sustained move above 52,800. Budget Impact: T he recent Union Budget may have swayed market sentiment. Economic Indicators: Key economic data releases can affect investor confidence. Earnings Season: Corporate earnings announcements can cause stock-specific movements, impacting the overall index. Support and Resistance Levels: Support: Previous analyses indicate support between 51,400 and 51,200. Resistance: The first resistance on the upside is at 52,600. A break above 52,800 could lead to a strong upward move. Market activity is expected to be subdued in the first half of the day, picking up volatility in the second half, especially post the budget speech. Technical Indicators for Bank Nifty Prediction: Max Pain: 52,200 PCR (Put-Call Ratio): 0.59 IV (Implied Volatility): 33.57 as of closing on 22-07-2024 Verdict: The market is likely to attempt to decay the higher premiums before establishing a trend. Given the current technical indicators, the probability of an uptrend is high. Disclosure: I am not SEBI registered. The information provided is for educational purposes only and should not be considered financial advice. Consult a qualified financial advisor before making any investment decisions. Social media shares are neither advice nor endorsed by the publisher.
NSE:BANKNIFTYLong
by shvishal
BANKNIFTY - Trading Levels and Plan for 23-Jul-2024The previous day's chart pattern for the Nifty Bank Index (BANKNIFTY) displayed a period of consolidation with potential breakout zones identified. The market has established key zones including a "No Trade Zone," "Best Buy Zone," and multiple resistance levels, providing a clear structure for developing a trading plan for July 23, 2024. **Trading Plan for 23-Jul-2024:** Gap Up Opening (+200 points or more): If BANKNIFTY opens above the "First Resistance for new high" (52,930 - 52,832): 1. Monitor price action for sustainability above this zone. 2. If the price remains above 52,930, look for long opportunities with a target towards the "Sellers activation zone at BoS level" (53,243 - 53,141). 3. Place a stop loss below 52,832 to manage risk. 4. Consider partial profit booking at 53,141 and hold the remaining position targeting the "Profit Booking Zone" (53,666.75). If BANKNIFTY opens within the "First Resistance for new high" (52,930 - 52,832): 1. Wait for a decisive move; avoid taking trades immediately upon opening. 2. If the price breaks above 52,930, initiate a long position with a target of 53,243. 3. If the price fails to break above 52,930 and shows signs of reversal, consider short opportunities with a target towards the "No Trade Zone" (52,290.76 - 52,268). If BANKNIFTY opens below the "First Resistance for new high" (52,832): 1. Monitor for any quick pullbacks to 52,832 to 52,930. 2. If the price fails to move above 52,832, consider short opportunities targeting the "No Trade Zone." 3. Maintain a stop loss above 52,930 to manage risk. Flat Opening: If BANKNIFTY opens within the "No Trade Zone" (52,290.76 - 52,268): 1. Avoid taking trades in this zone as it indicates market indecision. 2. Wait for a breakout above 52,290.76 or below 52,268 to initiate trades. If BANKNIFTY opens just above the "No Trade Zone" (above 52,290.76): 1. Look for long opportunities if the price stays above 52,290.76, with a target of 52,832. 2. Maintain a stop loss below 52,268. If BANKNIFTY opens just below the "No Trade Zone" (below 52,268): 1. Look for short opportunities targeting the "First Buyers' Support" (51,586 - 51,452). 2. Maintain a stop loss above 52,290.76. Gap Down Opening (-200 points or more): If BANKNIFTY opens below the "First Buyers' Support" (51,586 - 51,452): 1. Look for quick recovery trades if the price moves back above 51,586. 2. If the price stays below 51,452, initiate short positions targeting the "Best Buy Zone" (51,304 - 51,422). 3. Maintain a stop loss above 51,586 to manage risk. If BANKNIFTY opens within the "First Buyers' Support" (51,586 - 51,452): 1. Observe for any sign of strength in this zone to initiate long positions. 2. If the price holds above 51,586, target the "No Trade Zone" (52,290.76 - 52,268). 3. Maintain a stop loss below 51,452. If BANKNIFTY opens in the "Best Buy Zone" (51,304 - 51,422): 1. Look for long opportunities as this is a strong support zone. 2. Target the "First Buyers' Support" (51,586 - 51,452) as the initial profit zone. 3. Maintain a stop loss below 51,304 to manage risk. **Summary and Conclusion:** The trading plan for July 23, 2024, hinges on the opening scenario of BANKNIFTY. It is essential to wait for confirmation before entering trades, especially in identified zones like the "No Trade Zone," "First Resistance for new high," and "Best Buy Zone." Managing risk with appropriate stop-loss levels and profit targets is crucial for effective trading. **Disclaimer:** I am not a SEBI registered analyst. This trading plan is for educational purposes only and should not be considered as financial advice. Please do your own research before making any trading decisions.
NSE:BANKNIFTYShort
by LiveTradingBox
BANK NIFTY BUDGET DAY ANALYSIS 23/07/2024BUY ABOVE - 52400 SL - 52200 TARGETS - 52620,52800,53000 SELL BELOW - 52200 SL - 52400 TARGETS - 52000,51740,51510 NO TRADE ZONE - 52200 to 52400 Previous Day High - 52400 Previous Day Low - 52000 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
BANK NIFTY S/R for 23/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support. Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline. Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities. Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement. 20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend. Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
NSE:BANKNIFTY
by zenthosh
Savings and Speculation - 22/7 issue22/7 is another way of expressing the Pi, though the International Pi Day is celebrated on 14.3 Tomorrow is the budget day; economic report will come one day before. Markets have no time to look into this. Chief concerns remain, the speculation, the move of savings to equity, that is eroding the banks deposit ratio in turn raises the cost of funds. The NIM of some of the banks are near 3% and Union Bank of India Chief clearly mentioned that challenge to keep above the 3% mark. The cause is the effect, the effect is the cause. China fades few points on the Prime Rate, that shows unwillingness to take the big stick, markets are not Enthusians'd. Equity markets give back the gains, dollar keeps the tone steady near the 200 DMA, but it is the rupee which is slowly giving its way. The smaller time frames swiftly push instead of inverse HnS the HnS pattern, one has to wait and see how it unfolds. This pattern is both continuation as well as reversal pattern. Not a place where aggressively bearish tones relative to some other sectors, hence the beta can be a tad at par or below in the fall and above if any rise. Support 52130-51930-51780 Supply 52500-52750-53000
NSE:BANKNIFTY
by sreebhashyam
BANK NIFTY INTRADAY LEVELS FOR 22/07/2024BUY ABOVE - 52480 SL - 52360 TARGETS - 52620,52800,53000 SELL BELOW - 52200 SL - 52360 TARGETS - 52000,51740,51510 NO TRADE ZONE - 52200 to 52480 Previous Day High - 52620 Previous Day Low - 52200 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 : Important levels and Strategies for 22-Jul-2024On the previous trading days, the Nifty Bank Index showed significant consolidation with resistance around 52,969 and support near 52,090. The index fluctuated within a tight range, indicating a potential breakout or breakdown in the coming sessions. Key zones have been identified for potential entry and exit points. Trading Plan for 22-Jul-2024 Gap Up Opening (200+ points above previous close) If the index opens above 52,421 (200 points above previous close), wait for the first 15-minute candle to close. If the price sustains above 52,462, consider entering a long position targeting the Sideways/Resistance Zone between 52,831 - 52,969. Place a stop loss at 52,336.81 to manage risk. If the price reaches 52,969 and shows signs of reversal, consider booking partial profits and trail the stop loss to 52,831. If the price breaks above 52,969 with volume, hold the long position targeting the next resistance at 53,245. Flat Opening (Within +/- 50 points of previous close) If the index opens flat around 52,221.60, observe the price action for the first 15 minutes. If the price moves towards 52,462 and sustains above this level, consider entering a long position with a target of 52,831 - 52,969. Place a stop loss at 52,090 to limit potential losses. If the price fails to sustain above 52,462 and starts moving downwards, wait for the price to reach the Opening Support/Buyer Orders Zone at 52,090. If the price sustains above 52,090, enter a long position with a target of 52,462 and place a stop loss at 51,984. If the price breaks below 52,090, consider entering a short position with a target of 51,984 - 51,590. Gap Down Opening (200+ points below previous close) If the index opens below 52,021.60 (200 points below previous close), assess the price action for the first 15 minutes. If the price sustains above 51,984, consider entering a long position with a target of 52,090. Place a stop loss at 51,590 to manage risk. If the price fails to sustain above 51,984 and continues to fall, look for buying opportunities in the Best Buy Zone between 51,299 - 51,452. If the price reaches the Best Buy Zone and shows signs of support, enter a long position targeting 51,590 - 51,984. Place a stop loss at 51,299 to limit potential losses. Summary and Conclusion The Nifty Bank Index has key levels to watch for potential trading opportunities on 19-Jul-2024. The zones between 52,831 - 52,969 and 52,090 - 51,984 are crucial for determining market direction. Traders should be prepared for multiple scenarios and react based on price action within these levels. Proper risk management through stop losses is essential to navigate the volatile market conditions. Disclaimer I am not a SEBI registered analyst. This analysis is based on historical price patterns and key levels. Trading in financial markets involves risk, and it is essential to conduct your own research and consult with a professional advisor before making any trading decisions.
NSE:BANKNIFTYShort
by LiveTradingBox
Market Analysis for July 22, 2024 BANK NIFTY Market Analysis for July 22, 2024 Support and Resistance Levels: - Support Levels: Today's crucial support level is set at 52,200. A strong market opening above this level suggests potential for upward movement. - Resistance Levels: Currently identified resistance levels include: - Immediate Resistance: 52,400 - Stronger Resistance: 52,600 Technical Analysis: 1. Support Levels Analysis: - Primary Support: 52,200 - Description: This level serves as a critical support zone where buying interest may emerge, particularly if the market opens higher. - Implications: Sustaining above 52,200 indicates bullish sentiment and potential for further upward momentum. 2. Resistance Levels Analysis: - First Resistance: 52,400 - Description: This marks the initial hurdle for the market in its upward movement. - Implications: A breakthrough above 52,400 signals strength in the upward trend, potentially pushing towards higher resistance levels. - Stronger Resistance: 52,600 - Description: This level represents a formidable barrier and could cap further upside unless decisively breached. - Implications: Breaking above 52,600 would be significant, indicating clear potential for further gains. Trading Strategy: - Long Positions: - Consider entering long positions if the market opens above 52,200 and holds steady. - Target initial resistance at 52,400 with potential further targets towards 52,600. - Set stop-loss orders below 52,200 to manage risk in case of a reversal. - Short Positions: - Avoid short positions unless the market fails to sustain above 52,200. - If there is weakness and a drop below 52,200, short-term traders might consider short positions with an initial target around 52,000. Conclusion: Today's market outlook leans towards a bullish bias if the market opens above 52,200 and maintains momentum. Key resistance levels at 52,400 and 52,600 are critical to monitor. Traders should stay alert for any indications of reversal or failure to hold essential support levels. This analysis aims to provide valuable insights for traders and investors. Adjust strategies based on real-time market dynamics and adhere to proper risk management practices, including the use of stop-loss orders.
NSE:BANKNIFTYLong
by santubittu
Bank Nifty Prediction for 22 July 2024 along with S & RBank Nifty Prediction for 22 July 2024 along with Support & Resistance In recent weeks, Bank Nifty has exhibited a notable consolidation within a defined range, with an upper limit at 52,800 and a lower limit at 51,750 . This range-bound movement highlights a period of indecision among traders, as Bank Nifty struggles to break above the upper resistance while consistently finding support above the lower threshold. This pattern of consolidation suggests that traders are awaiting clearer market signals before committing to new positions. To gain further insights into potential support and resistance zones, Fibonacci Retracement Levels have been applied to the Bank Nifty chart. These levels are crucial in identifying key areas where price reversals or continuations might occur, aiding traders in making informed decisions. The current consolidation phase underscores the importance of monitoring these critical levels closely. A breakout or breakdown from this range could signal the next significant move for the Bank Nifty index. Max Pain: 52,300 PCR: 0.62 IV: 22.96 as on 19-07-2024 The overbought condition suggested by the PCR implies that Bank Nifty may experience a bounce back at support levels during either half of the trading session. Traders should be prepared for increased market activity and potential shifts in trend. Disclosure: I am not SEBI registered. The information provided is for educational purposes only and should not be considered financial advice. Consult a qualified financial advisor before making any investment decisions. Social media shares are neither advice nor endorsed by the publisher.
NSE:BANKNIFTY
by shvishal