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BANKNIFTY trade ideas

Unsustainable path?Powell comes back and gives that the mandate of Central Bank is not just about inflation control. It has dual mandate of Jobs. While he is trying to manage the waves ahead of the election year, the truth remains that is the mandate, nothing new. One can recall his comments on unemployment rate to move higher to bring the needle of inflation lower. Once cancels the other or both can stay together. As for as the path is concerned it is about fiscal, nothing is sacrosanct for US stand alone, look at any country the increase in monetary base, that is evident. That brings the question where we are now. For us the growth still robust, it can self-fund. While there can be short term hurdles the big picture is clear. The PIP graph is of earlier period, just to demonstrate how this one can propel down from the peak despite the evidence of larger support aka the larger candle. Now, if we assume our understanding about short term NIFTY is down, either this can move neutral, and some other index moves lower. Auto and Metals looks that way, while FMCG and Pharma looks higher (will they cancel out, the answer is no). Interesting to see how pan, the bounce from yesterday low has some window to offer the larger line of support is the red line that is closer to 52000. The big support area is 51200 that is like 48200 now. Support 52000-51800-51650 Supply 52380-52550-52700
NSE:BANKNIFTY
by sreebhashyam
BANKNIFTY : Key levels and Trading Plan for 11-Jul-2024 On July 10, 2024, the Nifty Bank Index fluctuated between defined support and resistance levels. Key levels observed were: - **Resistance Levels:** 53,005; 52,774; 52,694; 52,415 - **Support Levels:** 52,217; 52,164; 52,116; 52,034; 51,774; 51,680 With these levels in mind, let's outline our trading strategy for July 11, 2024, considering various opening scenarios. **Trading Plan for 11-Jul-2024:** 1. Gap Up Opening (+200 points or more): **Above 52,694 (Resistance/Sideways Zone):** - Look for selling opportunities if the price shows weakness near the 52,774 - 53,005 zone. - Short positions can be initiated with a target of 52,415. - Place a stop loss above 53,005. **Between 52,415 and 52,694:** - Monitor price action near 52,694. If it acts as resistance, consider shorting. - Target for short positions will be 52,217 - 52,164. - Stop loss should be placed above 52,694. 2. Flat Opening (Near Previous Close 52,217): **Immediate Action:** - Monitor the opening price behavior around 52,217. - If it holds above 52,217, consider going long with a target of 52,415. - Place a stop loss below 52,116. **Break Below 52,217:** - If the price sustains below 52,217, initiate short positions. - Targets for short positions will be 52,116 and 52,034. - Stop loss should be placed above 52,217. 3. Gap Down Opening (-200 points or more): **Between 52,034 and 52,217:** - Look for buying opportunities if the price shows support near 52,034. - Long positions can be initiated with a target of 52,217. - Place a stop loss below 52,034. **Below 52,034:** - If the price gaps down below 52,034, look for support around 51,774. - Initiate long positions near 51,774 with a target of 52,034. - Stop loss should be placed below 51,774. **Summary and Conclusion:** For July 11, 2024, key levels to watch are 52,694 and 52,034. Based on the opening scenario, plan your trades accordingly. In case of a gap up, look for shorting opportunities near resistance zones. For a flat opening, monitor price behavior around the previous close. In the event of a gap down, identify buying opportunities near strong support levels. Disclaimer: I am not a SEBI registered analyst. This plan is based on technical analysis and is for educational purposes only. Please perform your own due diligence before making any trading decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BANK NIFTY INTRADAY LEVELS FOR 11/07/2024BUY ABOVE - 52240 SL - 52000 TARGETS - 52400,52620,52800 SELL BELOW - 52000 SL - 52240 TARGETS - 51740,51510,51200 NO TRADE ZONE - 52000 to 52240 Previous Day High - 52620 Previous Day Low - 52240 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 11/724Support 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_Intraday (11-0Jul-2024)The image displays a 30-minute intraday chart for the Bank Nifty index. Here are the key details: Date: The data is for July 11, 2024. Index Levels: The Bank Nifty index is shown at a closing price of 52,217.30, up by 42.90 points. Technical Analysis Features: EMA: The chart includes a 20-period Exponential Moving Average (EMA) shown at 52,266.22. Fibonacci Retracement Levels: Notable Fibonacci retracement levels from recent peaks and troughs are marked, with specific levels labeled such as 0.751, 0.799, 0.94, and 1.003. Trading Signals: -Buy Signal: A green arrow suggests buying above 52,350 with a target of 53,700+. -Sell Signal: A red arrow indicates selling below 52,000 with a target of 52,000 or lower.
NSE:BANKNIFTY
by Praveenmor7
NIFTYBANK: Entry and ExpiryOnce again about the SEBI Select Committee recommendations. 1. Increase in the FnO lot size, that is deterrent only to the retail who trades one lot, even for him he can go to the Margin Funding route, worse, some one can structure, Margin Funding ticket equivalent of the old lot. Market Evolves. 2. On Expiry, yes this can reduce to some extent, but not on the limit to the number of strike prices, that can actually increase volatility, if nothing else, the absence of strikes is more an issue than the existence. Hopefully, this too shall pass is the approach of the retail. They are burdened by the market expectation than their own expectations. Inflation on the mend at least the rate of inflation, but domestic inflation may stand still, just like our currency, everything else moves. Government decision to move not to publish GST collections remains the concern of many, while the SIP continues to raise above the hip. Support hold for a rise than a fall. Supports 52400-52250-52150 Supply 52700-52880-53100
NSE:BANKNIFTY
by sreebhashyam
BANKNIFTY : Key Levels and trading plan for 10-Jul-2024Based on the chart for the NiftyBank Index (BankNifty) for July 9, 2024, we can see various support and resistance levels, along with potential market movements for the upcoming trading day (July 10, 2024). Here is a detailed trading plan for different opening scenarios: ### Previous Day's Chart Pattern On July 9, 2024, the BankNifty showed a mixed trend with significant levels of support and resistance being tested. The index faced resistance near the 52,876 level, which corresponds to a previous change of character (ChoCH) zone. On the downside, the index found support around the 52,480 and 52,434 levels. The market remains indecisive, and traders should watch key levels closely for potential breakouts or reversals. ### Trading Plan for 10-Jul-2024 #### **Opening Scenarios** 1. Gap Up Opening (200+ points above previous close) - If the market opens above 52,721 (200 points gap up), watch for a potential move towards the weak resistance zone at 52,748. If this level is broken and sustained, the next target would be the resistance at the previous ChoCH zone (52,841 - 52,876). - If there is a rejection from the weak resistance zone (52,748), consider short positions with a target back towards 52,606 (Opening Resistance/Support level). - In case of a strong bullish momentum, breaking above 52,876 with high volume, initiate long positions with a target of 53,039. 2. Flat Opening (around previous close) - If the market opens around 52,521, observe the price action at the Opening Resistance/Support level (52,606 - 52,633). A breakout above 52,633 with sustained buying can lead to targets of 52,748 and 52,876. - Failure to break above 52,633 and a fall below 52,480 can signal short positions with targets of 52,434 and 52,317. - Watch for consolidation around 52,521 and take positions based on breakout/breakdown from this level. 3. Gap Down Opening (200+ points below previous close) - If the market opens below 52,321 (200 points gap down), look for immediate support at 52,317. If this support holds, a bounce back towards 52,480 is possible. - If 52,317 is broken, the next level to watch is 52,164 (Important Support / Best-buying try zone). Initiate long positions if there is a strong reversal pattern at this level. - In case of further bearish momentum, breaking below 52,164, watch for the next support at 52,116. ### Summary and Conclusion - **Gap Up Opening:** Focus on resistance levels at 52,748 and 52,876. Look for potential rejection or continuation signals. - **Flat Opening:** Observe price action around 52,521 and key levels at 52,606 - 52,633 for breakout/breakdown trades. - **Gap Down Opening:** Watch for support levels at 52,317 and 52,164 for potential reversal or continuation patterns. ### Disclaimer I am not a SEBI registered analyst. The views and trading strategies mentioned here are for educational purposes only and do not constitute investment advice. Please consult your financial advisor before making any trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
BANK NIFTY INTRADAY LEVELS FOR 10 JULY 2024BUY ABOVE - 52620 SL - 52400 TARGETS - 52800,53000,53230 SELL BELOW - 52400 SL - 52620 TARGETS - 52240,52000,51740 NO TRADE ZONE - 52400 to 52620 Previous Day High - 52620 Previous Day Low - 52240 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 10/7/24Support 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 Intraday (10-Jul-2024)The image displays a chart for the Nifty 50 index from the National Stock Exchange of India, showing intraday movements on a 15-minute time frame. The chart includes details such as: Index Information: The Nifty 50 Index is shown at various prices, with the current price being 24,417.25, down by 16.80 points. Technical Analysis: There's a 20-period Exponential Moving Average (EMA) indicated at 24,401.59. Trading Recommendations: -Buy Signal: A green arrow points upwards with a note to "Buy Above 24450" targeting an open position above 24,550. -Sell Signal: A red arrow points downwards suggesting to "Sell Below 24375" with a target (Tgt) of 24,275 or lower.
NSE:BANKNIFTY
by Praveenmor7