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BANKNIFTY trade ideas

Rinse RepeatNo further cues, fall and rise, and then the failure around the neckline of an otherwise inverse head and shoulder, Market waiting for the budget to break higher, what if we end up break that upward sloping green line, pushing the busted Inv Head and shoulder, probably taking to recent low. Anything is possible, failure at the neckline is the focus than failure elsewhere. RBI Gov comments on Silver lining and clouds on inflation front have to be taken into consideration. The good news of bond inflow notwithstanding. It is budget time, economic surveys and expectation build up. Rotation shifts between IT FMCG and Pharma while this space is struck in a range. Stay in yesterday zone. Support 52350-52150-51950 Supply 52750-52850-53100
NSE:BANKNIFTY
by sreebhashyam
BANK NIFTY INTRADAY LEVELS FOR 19 JULY 2024BUY ABOVE - 52620 SL - 52480 TARGETS - 52800,53000,53230 SELL BELOW - 52360 SL - 52480 TARGETS - 52200,52000,51740 NO TRADE ZONE - 52360 to 52620 Previous Day High - 52800 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
2
BANKNIFTY : Price levels and plan for 19-July-2024Based on the chart pattern from the previous day, the Nifty Bank index showed mixed signals with both upward and downward movements, indicating a period of consolidation. Several key levels of resistance and support have been identified that could influence the market's direction on 19-Jul-2024. Here’s a detailed trading plan considering all possible opening scenarios: Trading Plan for 19-Jul-2024 1. Gap Up Opening (200+ points) - If the market opens above the Opening Resistance zone (52,795): - Wait for the first 15 minutes to observe price action. - If the price sustains above 52,931, look for long opportunities with a target of the Resistance at BoS (53,250). - Place a stop loss below 52,795. - If the market opens within the Opening Resistance zone (52,727 - 52,795): - Observe if the price gets rejected from 52,795. - Look for short opportunities targeting Opening Support / Resistance (52,498). - Place a stop loss above 52,795. - If the market opens just below the Opening Resistance zone (around 52,558.25): - Observe if the price moves towards the Opening Resistance. - If there is strong resistance, look for short opportunities targeting Opening Support / Resistance (52,498). - Place a stop loss above 52,727. 2. Flat Opening - If the market opens around the current level (52,558.25): - Monitor the price action around the Opening Resistance (52,727). - If the price breaks above and sustains, look for long opportunities targeting the Resistance for New High (52,931). - Place a stop loss below 52,727. - If the price gets rejected from 52,727, look for short opportunities targeting Opening Support / Resistance (52,498). - Place a stop loss above 52,727. 3. Gap Down Opening (200+ points) - If the market opens below Opening Support / Resistance (52,498): - Look for buying opportunities if the price reaches the Buyer's Support zone (52,091). - Target the Opening Support / Resistance (52,498) on the upside. - Place a stop loss below 52,091. - If the market opens within the Buyer's Support zone (52,091): - Observe if there is strong buying interest. - Look for long opportunities targeting Opening Support / Resistance (52,498). - Place a stop loss below 52,091. - If the market opens below the Buyer's Support zone (around 52,000): - Monitor for strong buying interest at the Buyer's SL (51,976) or the Last Support for Intraday (51,685). - Look for long opportunities targeting Buyer's Support (52,091). - Place a stop loss below 51,976. Summary and Conclusion - For a Gap Up opening, focus on resistance at 52,727 and potential targets of 52,931 and 53,250. - For a Flat opening, watch the price action around 52,727 for potential long or short opportunities. - For a Gap Down opening, look for buying opportunities at 52,091 or 51,976 - 51,685 depending on the opening level. Disclaimer: I am not a SEBI registered analyst. This trading plan is based on personal analysis and should not be considered as financial advice. Trade at your own risk.
NSE:BANKNIFTY
by LiveTradingBox
BANK NIFTY S/R for 19/7/24Support 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
NIFTYBANK: Come SeptemberDelusion of data, ranging from China to US, all softer tone than expected. Consumption falls or demand destruction one has to wait and see. For now, yield soften, Dollar breaks the crucial support, focus shifts from Political Scenario elsewhere to US. Most of the Economists sing now "Come September" for first FED rate cut. Finally, the much-awaited cut appears in and most likely one would see that. Even Powell sounded that in terms of inflation being 2%, pendulum shifting from moderating any chances of hike to moderating the cut and if and when. Crude prices jump on inventory and on 233 DMA support. For us our own budget is in and thus remains the focus to the market. This index is not in any way looking to give way down and hence focus remains to see from where it is going to rise. Supports 52300-52150-51950-51750 Supply 52600-52800-52950-53150
NSE:BANKNIFTY
by sreebhashyam
BANK NIFTY INTRADAY LEVELS FOR 18 JULY 2024BUY ABOVE - 52620 SL - 52400 TARGETS - 52800,53000,53230 SELL BELOW - 52400 SL - 52620 TARGETS - 52200,52000,51740 NO TRADE ZONE - 52400 to 52620 Previous Day High - 52620 Previous Day Low - 52400 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 - Analysis and Trading Plan for 18-July-2024Tuesday's trading in the Bank Nifty index showed a mixed sentiment with the index fluctuating between support and resistance levels. The index opened at 52,407.25 and showed some volatility throughout the session, closing slightly lower at 52,399.95, indicating indecision among traders. Key levels such as the Opening Resistance at 52,589.00 and the Opening Support at 52,220.00 were respected, providing crucial insights for tomorrow's trading strategy. ### Trading Strategies for 18-July-2024 #### 1. **Flat Opening** If the market opens flat around the closing price of 52,399.95: **Initial Resistance and Support**: Watch for initial resistance at 52,589.00 and support at 52,220.00. **Breakout Strategy**: If the price breaks above 52,589.00 with good volume, initiate a long position targeting 52,828.00 and 52,870.00. **Breakdown Strategy**: If the price breaks below 52,220.00, initiate a short position targeting 52,051.00 and 51,986.00. #### 2. **Gap Up Opening (200 points above)** If the market opens around 52,600.00: **Opening Strategy**: The initial focus should be on the Opening Resistance at 52,589.00. If it sustains above this level, it is a bullish signal. **Bullish Continuation**: Look for a breakout above 52,750.00 for an upward target of 52,870.00 and 53,142.00. **Profit Booking Zone**: Book partial profits around 53,246.00 and the remaining at 53,309.00. **Reversal Strategy**: If the price fails to sustain above 52,589.00 and shows a reversal pattern, consider shorting with a target back to 52,399.95. #### 3. **Gap Down Opening (200 points below)** If the market opens around 52,200.00: **Opening Strategy**: Focus on the Opening Support at 52,220.00. If it sustains below this level, it signals bearishness. **Bearish Continuation**: Look for a breakdown below 52,051.00 for a downward target of 51,986.00 and 51,900.00. **Support Rebound**: If the price rebounds from 52,051.00, it can be a buying opportunity targeting 52,220.00 and 52,399.95. **Risk Management**: Place stop losses appropriately to manage risks and protect capital. ### Summary and Conclusion In conclusion, the Bank Nifty index presents varied trading opportunities based on different opening scenarios. A flat opening suggests careful monitoring of initial support and resistance levels. A gap-up opening leans towards bullish continuation if key resistances are broken, while a gap-down opening hints at bearish trends with potential rebounds from support levels. Always adhere to proper risk management practices to safeguard against market volatility. Disclaimer: I am not a SEBI registered analyst. This analysis is for educational purposes only. Please consult your financial advisor before making any trading decisions. --- This detailed analysis and trading plan should provide a comprehensive guide for trading the Bank Nifty index on 18-July-2024, considering various opening scenarios.
NSE:BANKNIFTYShort
by LiveTradingBox
BANKNIFTY VIEW FOR 18TH JULY 2024Current Price and Key Levels: Current price: 52,396.80 Resistance zone (highlighted in yellow): Approximately between 52,700 to 52,900. Support zone: Around 52,100 to 52,200. Potential Scenarios: 1.Bullish Scenario: If the price breaks above the resistance zone (52,700 to 52,900), it could potentially rise to the next resistance level around 53,308. 2.Bearish Scenario: If the price falls below the support zone (52,100 to 52,200), it could potentially decline to the next support level around 51,820 to 51,749. Trading Strategy: 1.Look for a breakout above the resistance zone to take long positions, targeting 53,308. 2.Look for a breakdown below the support zone to take short positions, targeting 51,820 to 51,749.
NSE:BANKNIFTY
by harshuuu3234
BANK NIFTY S/R for 18/7/24Support 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
Banknifty 24th July Expiry (Weekly Analysis)There is an interesting observation in Banknifty option chart. We are seeing a strong PUT support, that means market is likely to be bearish in coming week. Here are 2 possible scenarios based my study. Banknifty may start positive for the week and then start going down. However we need to be mindful that there is strong support also downside. Even if we are biased towards Bear direction for the next week, we will be confined in the zone 51700-52500.(Likely range). Again i am assuming high risk on Budget day. The channel should be respected, breaking the channel would take Banknifty to 52800 levels, where there is Monthly Supply zone(resistance), overall, it will be sell on rise. Disclaimer: The observations are based on my personal study and favorable for my own personal trades.
NSE:BANKNIFTYShort
by bhabtoshojha
Head above the shoulderSometimes simple things work wonders, and one my favourite pattern is HnS, Head and Shoudlers. Look we have one here, though neckline is yet to break. We have stronger bigger frames, and this one is much smaller frame. Yesterday price action of rise from lows, despite higher inflation than factored, augurs well for the neckline break. Also, the gap down of 5th July lead fall is in for closing up. Not much, truncated holiday is the only hurdle. Will there be a break of the neckline then a retracement or one way up is to be seen, with the holiday in mind one can take chances of that retracement. Support 52400-52300(max stop for the longs)-54130 Supply 52680-52800-53100
NSE:BANKNIFTY
by sreebhashyam