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Bankniftyintradaysetpup

BankNifty Intraday Support & Resistance Levels for 29.11.2024On Thursday, BankNifty started on a positive note, reaching a high of 52760.20, but heavy selling pressure dragged it down by almost 1000 points, hitting a low of 51782.90. It ended the day at 51906.85, losing 395 points from the previous close. Although BankNifty initially broke above the daily supply zone, it failed to sustain and reversed sharply. If it breaches the 51750 level, further downside toward 51270 or below could unfold. The Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways. Demand/Support Zones Near Demand/Support Zone (30m): 51040.05 - 51271.50 Far Small Demand/Support Zone (15m): 50609.75 - 50824.55 Far Support: 49282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44633.85 - 45750.40 Supply/Resistance Zones Near Supply/Resistance Zone (Daily): 51294.20 - 52493.95 (current price inside the zone) Far Supply/Resistance Zone (Daily): 52817.80 - 53235.25 Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35
NSE:BANKNIFTY
by PriteshPal
Banknifty | 28th Nov'2024 Forecast | NSEMany retail traders have buy orders (buy-side liquidity) that big players (institutions) can take. First, they grab all the buy-side liquidity. Next, they target sell-side liquidity by creating false breakouts. Then, they push the price down to a strong support or demand zone (bearish move). After that, they reverse the price up (bullish move) and take any remaining buy-side liquidity. DM to learn more about liquidity and how big players think in the market!
NSE:BANKNIFTY
by arjTradingofficial
BANKNIFTY : Trading Levels and Plan for 27-Nov-2024Trading Plan for Bank Nifty - 27th November 2024 Introduction: On 26th November 2024, Bank Nifty traded within a consolidation phase, evident from the "No Trade Zone" (Yellow Trend) between 52,202–52,315. This range indicated indecision, with strong resistance above 52,459 and key support levels below 51,944. The bullish structure (Green Trend) dominates above 52,459, targeting the Profit Booking Zone at 52,794, while bearish momentum (Red Trend) intensifies below 51,870, pushing prices towards 51,544. This framework sets the tone for actionable trading levels. Plan for Different Opening Scenarios: Gap-Up Opening (200+ Points Above Close): If Bank Nifty opens above 52,315 but below 52,459, wait for price action confirmation. A breakout above 52,459 with an hourly candle close indicates bullish momentum targeting 52,794 (Profit Booking Zone). If the market opens directly near or above 52,459, avoid chasing long trades immediately. Wait for a pullback to 52,315–52,459 for better risk-reward. Watch for rejection candles near 52,459, signaling potential reversals into the "No Trade Zone." Risk Management Tip: Consider buying 52,800 CE for bullish scenarios but with a stop loss below 52,315 on an hourly close basis. Flat Opening (Near Previous Close at 52,178): If the market opens flat, avoid immediate trades within the No Trade Zone (52,202–52,315). Allow a clear breakout above 52,315 for bullish opportunities or a breakdown below 52,202 for bearish setups. A breakout above 52,315 targets 52,459, while a breakdown below 52,202 could lead to 51,944 and 51,870 (First Buyer’s Support). Monitor price action around 51,870, as it serves as critical support for potential reversals or fresh bearish momentum. Risk Management Tip: Deploy straddles or strangles to capitalize on potential directional moves after the initial range breakout. Gap-Down Opening (200+ Points Below Close): If Bank Nifty opens below 51,944, watch for buying interest at 51,870 or the Best Buy Zone at 51,830. Bullish reversal patterns here can offer excellent long opportunities. A breakdown below 51,870, confirmed by an hourly close, may trigger further bearish momentum towards 51,544 (Last Support Zone). Avoid aggressive short positions near 51,870–51,830 unless price decisively breaks this zone with volume. Risk Management Tip: For bearish plays, consider buying 51,600 PE with a strict stop loss above 51,944. Tips for Risk Management in Options Trading: Trade with defined stop losses based on hourly candle closures to avoid overtrading. Use option spreads to manage high premiums during volatile openings. Focus on liquidity and avoid deep out-of-the-money options. Gradually scale into positions to manage risk during gap openings. Avoid holding overnight positions unless they align with the trend and key levels. Summary and Conclusion: For 27th November 2024, the key levels to focus on are: Bullish above 52,315, with targets at 52,459 and 52,794. Bearish below 51,870, with targets at 51,830 and 51,544. Avoid trading in the "No Trade Zone" (52,202–52,315) unless a breakout or breakdown is confirmed. Patience, discipline, and adherence to the plan will help navigate Bank Nifty's movements effectively. Disclaimer: I am not a SEBI-registered analyst. The above analysis is for educational purposes only. Please conduct your research or consult with a financial advisor before making any trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
12 FEB 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys, Good Morning everyone, According to the data today market is going to open gap up After A gap up opening if Banknifty sustains Above 46100 and takes Support from 46200 then open target for T1-46300, T2-46400,T3-46500 If the Banknifty gap up opening sustains Below 46000 and takes resistance below 46000 then the open Targets for T1-45800, T2-45700,T3-45500 Major Levels 46000,46200,45800 If the market stands in this area of 46000 to 46200 then it is possible that even today the market will remain in the range.
NSE:BANKNIFTY
by mr_bull10
BANKNIFTY-Trendline Holds or Buyers Exhausted?? BANKNIFTY has been on an upward trend for quite some time now, but it seems like it may be time for a correction at the strong resistance level of 43600. Observations: ----->>However, the trendline is currently acting as a support and the price is still moving up. ------>>Just yesterday, the strong resistance at 43000 was broken, so it's possible that it may now act as a support level. ----->>If the price falls below 43000 again, it's uncertain which level will hold. Which Level Holds: In the past, the price faced difficulties going up at 42700 and failed. But now, that same level may act as support to go higher. It's recommended to stay on the long side until the price breaks below 42700. -------->> If price breaks 42700 and facing resistance @43000 or 42850 level and again breaks 42700 , go for short 42500,42300,42000.
NSE:BANKNIFTY
by IIT-Trader
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