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Bankniftyanalysis

BANKNIFTY--Gap up or Gap down ??Observations:: price broken the trendline strongly, but failed to take the support and falls below to complete the bullish gap. if today's gap up is created by the buyers telling us buy at this place or its a bull trap. on top we are left with the bearish gap...how this gap be filled... every time the price is rejected by the level @45000-45100, so if price breaks this level we can observe a bearish gap be filled... but this can be achieving by a slow process with a strong breakout at that level. price slowly comes to this level while breaking that level a strong bullishness is observed...so careful at that level... on bottom side we have a bullish gap left...will see what happens tomorrow in live market... All this is a pre and post market analysis...we can't tell what happens at each and every level... based on the reactions at that particular level only our entry will be placed. so by breaking the resistance or support don't take entry quickly... wait it will come back and then take entry with small risk... please be patient...be with the market...follow the trend... market always gives us discount...
NSE:BANKNIFTY
by IIT-Trader
12
BANKNIFTY--Retest and Rise ??Observations:: price a strong fall is witnessed today as well... noticed that fall happens after a consolidation... if consolidation + Downside =Up...may be possible... we are still left with the bullish gap left below @previous resistance.. if this previous resistance will acts as support or not, we have a trendline confirmation as well to go long... wait until price breaks the trendline and retest to enter long. If a continuous fall happens...enter break of the previous resistance and retest of strong resistance.
NSE:BANKNIFTY
by IIT-Trader
2
BANKNIFTY--Consolidation + Upside = Fall ??Observations:: If we see on daily time frame, price has broken the previous resistance at 44200 level, with a strong consolidation. price moved to the upside with strong consolidation. let us consider this as a consolidation + upside == Fall. price is not giving any sort of retest to the previous resistance 44200 level. If we observe a pullback towards the previous resistance, price will fall until 44200 level. If we see a slow pullback towards 44200 we can observe a bullishness again.. from 44200. If there a chance of huge fall from upside... we don't have a chance of buy opportunity again from 44200 level. price will continuously fall happens below 44200 levels, this time 43400 level will also break. Be cautious. On bottom side price created a demand zone @43800,will push the price towards 44200. Here 2 possibilities, if price falls below 44200 level,43800 gives support.. if the previous resistance acts as resistance price fall happens from 44200 again. but if the same level acts as demand will observe again a bullish up to ATH.
NSE:BANKNIFTY
by IIT-Trader
2
BANKNIFTY Analysisobservations:: price again proven that a sign of bearishness.... Price broken our POI for sell,moving slowly to the upside... broken the trendline..in smaller time frame and fall back...no oppurtunity to enter long... today we have a major trendline if this trendline again acts as resistance...it will again fall back.. the big red candle is pushing the price little up... An decending triangle is formed....which is also a sign of bullishness from the previous resistance level... without knowing we cannot take entry on buy side... will wait for trendline break and retest....to go long from resistance acts as support.
NSE:BANKNIFTY
by IIT-Trader
5
BANKNIFTY--Consolidation to Resistance @44500 ??Observations:: the previous resistance @44500 level is broken by opening a huge gap up then price is immediately testing the resistance with a single red candle... tomorrow this red candle...won't allow the price to go down... but price wants to fill the small gap up....which is left almost 55-60 points gap.. if we see from top price is continuously falling...from 45600 levels... if tomorrow price wants to fill this gap....and big red candle rejecting the price downwards.. and above we have strong demand acts as resistance again... considering all these 3 points results in a consolidation market... in which levels these consolidation takes place...i.e from 45000-44650 levels.... what happens if price starts consolidation... if price consolidates to test the previous resistance... which indicates a bullishness again from 44500 levels... if a continuous falling happens price will again test the 44000-44100 levels. All this is a pre- post market analysis, live market is entirely different from these analysis... will see on live market what happens.
NSE:BANKNIFTY
by IIT-Trader
3
BANKNIFTY--Bullish Gap or Bearish Gap??Observations: 1.price opened in a demand zone and failed to take the price up wards... 2.The hidden demand zone acts as support and price moves up and gives pullback... 3.Yesterday's demand zone resist the price to go up....and price falls back... 4.while breaking the demand zone price, leaves a bearish gap and continue its fall till the hidden demand zone... 5.Bullish gap is still not able reach. so we have 2 options now... which gap fills 1.Bullish gap 2.Bearish gap. if price opens below gap1, we can expect a immediate fall happens and fills the bullish gap2. so be careful here, don't initiate a short as soon as opens ..wait for the right opportunity and enter. Based on the price opening we will decide which gap is going to fill 1st. and also price has created its 1st low...and given us pullback to sell... so on Monday if price opens below 1st low, then its created a 2nd low, which confirms bearish sign. then price is immediately created a lower high again...so will look for buy at that time.. then we can expect a bearish gap be finished and price may again fall, or continue moving up again. lets see what happens on live market. All this is a premarket analysis, live market is entirely different from the pre and post market analysis. our assumptions and calculations all are changes... so we have to act smart and continue with the price movement and observe the reactions at the demand and supply zones, support and resistance zones. supply becomes demand and vice versa. Support becomes resistance and vice versa.
NSE:BANKNIFTY
by IIT-Trader
6
BANKNIFTY--Will Right shoulder formed to fill Bullish Gap??Observations:: previous resistance zone @45300-45350,is again an hurdle to move the price upside, the demand zone @45450 again resisting the price to go up. we don't get any sell opportunity today...price wont breaks the 45000 level. now price is near to its trendline in smaller time frames.. if that breaks and retest will enter on short side by keeping the stop loss above 45300-45350 zone, for targets of bullish gap left below. Previous strong buy ness from 45000 level becomes weak, price is slowly moving to test the demand acts as supply one more time. will see tomorrow if price breaks the trendline, and gives retest will enter on short side..
NSE:BANKNIFTY
by IIT-Trader
2
BANKNIFTY--Expiry is Bullish or BearishObservations:: we have previous resistance at 45300-45350 zone...which is strong. yesterday price tested the demand acts as supply zone and falls below... if this zone 45300-45350 acts as resistance price falls again.. if we want to short wait until price breaks 45000 level, and retest or pullback to previous demand zones... then enter for short for target of 44800,bullish gap. No long is suggested...will have strong resistances...
NSE:BANKNIFTYShort
by IIT-Trader
6
BANKNIFTY--Bullish Gap be filled??Observations:: Price action is completely bullish... a strong bullishness is observed from the 44900 level, even after opening gapup. tomorrow this level is resist the price to godown again... if consolidation happens at this level, we can expect an upside movement after filling the gap below to above levels. on top we observed a consolidation + plus strong bullish, with an immediate fall is observed from 45500 level, if this level acts as resistance we will observe some correction... its not a sign of reversal...keep in mind. one more gap is left @44400 level also. Will see in live market what happens.... All these are our assumptions only..... live market is entirely different from the pre market analysis.
NSE:BANKNIFTY
by IIT-Trader
05 JULY 2023 EXPIRY DAY BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys, Good Morning everyone, According to the data today market is going to open Flat After A Flat opening if Banknifty sustain Above 45000 and taking Support from 45000 then open target for T1-45200,T2-45300,T3-45400 If the Banknifty Flat opening sustain Below 45000 and taking resistance below 45000 then the open Targets for T1-44800,T2-44700,T3-44600 Major Levels 45200,45000,44800 If the market stande in this area of 44800 to 44500, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTY
by mr_bull10
BankNifty Analysis: Indecision with Bulls and Bears in ControlBased on the provided chart analysis, here is a revised summary of the current market situation: On the daily timeframe, the market formed a perfect Doji candlestick, indicating indecision among market participants. It opened within the previous day's high and fell to 45000, where it found support and staged a recovery in a V-shaped pattern. The market then rallied to 45651 but subsequently fell again in a V-shaped pattern. This double reversal suggests both bears and bulls are strong, seizing control when opportunities arise. The market has established major resistance levels at 45651 and a minor resistance at 45475. Major support levels are seen at 45000 and 44906, with a minor support at 45135. On the 1-hour timeframe, an inside candlestick pattern has formed. Open interest data reveals that the 45300 strike price has a significant straddle of around 20L, while the 45200 and 45400 strike prices show a decent amount of put and call short positions, respectively. The major support level at 45000 has 41L puts, and the major resistance level at 45500 has 37L calls. The PCR (Put-Call Ratio) is 1.45, indicating a bullish sentiment. Analyzing FII (Foreign Institutional Investor) data, it shows that they have a higher number of long positions in calls (7.78L) compared to short positions (4.76L). In puts, FII data shows more long positions (10.1L) compared to short positions (7.6L). FII Futures Data suggests a bullish sentiment with a value of 1173cr, and FII Stock Data indicates a bullish sentiment with a value of 2134cr. Considering the analysis, the market is likely to be range-bound between 45000 and 45500, resulting in frequent reversals. Potential trades can be initiated if the market breaks above 45651 or below 43906. Alternatively, a break above 45364 could lead to an upside trade with a target of 100-120 points, while a break below 45223 could lead to a downside target of 45118. Please note that this analysis is based solely on the information provided and does not constitute financial advice. It is recommended to consult with a qualified financial professional or conduct further research before making any investment decisions.
NSE:BANKNIFTY
by JigarHathiyani
Navigating Bank Nifty's Tides: Breakouts, Halts, and Sideways MaBased on the daily timeframe chart, it is observed that every time Bank Nifty has attempted to break its all-time high, it has either halted or formed an inside bar. Furthermore, the recent volume levels are the lowest seen in months. When comparing the trendline drawn from the last low of 16 march to the volume, it is evident that the volumes are decreasing. This could be an indication of a sideways market since the participants' involvement is limited. However, it's worth noting that the candle formed on Friday was bullish, which adds some confusion. On the 15-minute timeframe, Bank Nifty has formed a double top around 44,800. Additionally, the VIX (Volatility Index) is currently at one of its lowest points. Based on these factors, it seems unlikely that the VIX will experience further downside movement. On the contrary, it is anticipated to move upwards. Looking at the open interest data, it is observed that there is significant put writing at 44,500 (53L) and 44,600 (23.3L), with relatively lower call writing. The only notable resistance is at 44,800, with 24L in call writing and 12.4L in put writing. Surprisingly, there isn't much call writing at the 45,000 level, which is unusual (24.4L in calls and 5.24L in puts). The PCR (Put Call Ratio) is at 1.45, indicating a bearish sentiment. Analyzing the FII (Foreign Institutional Investors) options data, there are 7.48L contracts in long calls and 4.76L in short calls, while for puts, there are 9.37L in long contracts and 7.74L in short contracts. This change in open interest indicates a bullish sentiment. Additionally, the FII futures data shows a positive value of 1539.9 crores, suggesting a bullish outlook. The FII stock data also supports this sentiment, with a positive value of 6397.1 crores. In conclusion, based on the available data, the market appears to be bullish with no significant resistance ahead, except at 44,800 and 45,000 levels. However, historical patterns indicate a tendency for a halt after breaking the all-time high. Hence, it's important to keep this historical behavior in mind. Regarding trades, if Bank Nifty opens flat and breaks the day's high, one can consider going long directly. In case of a gap-up opening, it is advisable to wait for a retest or at least for the gap to be filled before looking for long positions. If the market opens with a gap down, it is recommended to refrain from trading as it may lead to a sideways market.
NSE:BANKNIFTY
by JigarHathiyani
BANKNIFTY Analysis for 30 June 2023On the daily timeframe, the market has formed a halt candle at the all-time high. Given that on Wednesday it opened with a gap up but couldn't sustain the upward momentum and became volatile, it is likely that a retest may occur. This could result in a sideways movement or a slight negative trend. On the hourly chart, the price didn't close above or below the first-hour candle, indicating indecision and lack of a clear direction. On the 15-minute chart, there's a trendline originating from below, suggesting a potential support level. The key levels to watch are 44513 as resistance and 44337, 44191, and 44041 as support. Notably, the 44000 level has a significant amount of call writing at 62L, and the 44300 level has a substantial straddle of 43L and 49L. Additionally, there is a considerable amount of put selling on the 44200 level at 52L. The 44500 level also has a decent amount of call writing at 43L. Analyzing the options data, it seems mixed. The PCR of 1.33 reading indicates a bearish sentiment. FII have Calls of long position of 5.13L and a short position of 2.54L, while puts have a long position of 6.06L and a short position of 4.2L. The mixed data suggests uncertainty in market sentiment. Considering the overall data and chart analysis, the market appears to be in a sideways phase. However, if it breaks above or below the current range, options buying can be considered accordingly. If no breakout occurs, it might be best to refrain from taking any trades. In conclusion, based on the provided information, it seems prudent to avoid taking a trade tomorrow, as the market shows mixed signals in the options and futures data, while the stock data appears positive.
NSE:BANKNIFTY
by JigarHathiyani
26 JUNE 2023 EXPIRY DAY BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys, Good Morning everyone, According to the data today market is going to open Gap-Down After A Gap-Down opening if Banknifty sustain Above 43900 -44000 and taking Support from 43900 then open target for T1-44200,T2-44300,T3-44500 If the Banknifty Gap-Down opening sustain Below 43200 and taking resistance below 43200 then the open Targets for T1-43000,T2-42800,T3-42700 Major Levels 43400,44000,43800 If the market stande in this area of 43200 to 43800, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTY
by mr_bull10
23 JUNE 2023 EXPIRY DAY BANKNIFTY SUPPORT AND RESISTANCE LEVELS Hello Guys, Good Morning everyone, According to the data today market is going to open Flat After A Flat opening if Banknifty sustain Above 43900 -44000 and taking Support from 43900 then open target for T1-44200,T2-44300,T3-44500 If the Banknifty Flat a Gap-Down opening sustain Below 43500 and taking resistance below 43500 then the open Targets for T1-43300,T2-43200,T3-43000 Major Levels 43500,44000,43900 If the market stande in this area of 43500 to 40000, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTY
by mr_bull10
Fall Together from ATHObservations:: NSE:NIFTY and NSE:BANKNIFTY If we see the Nifty trending upwards.... If we see Bank nifty Trending downwards..... These 2 indexes are behaving differently.... Bank nifty broken the ATH in the last month only.... Nifty if break today...will say that it will also break ATH... Bank nifty index Price after broken ATH Reversal again and fall happens. If today nifty also break ATH, then it may also reversal... we may expect price fall like happens in bank nifty. the price is also at its ATH, near its trendline Break...price may break trendline as well. Before Going to Break ATH, price is in consolidation happens in Bank nifty. In Nifty after Breaking ATH, will coming below may again consolidates....like happens in Bank nifty. consolidation may Happens here...or Note:: Nifty is Near ATH, and If today Bank nifty will also come back to near its ATH, then Both will fall together. Lets See What Happens...If this post is Helpful...like it. Thank you
NSE:NIFTY
by IIT-Trader
3