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Bankniftylevels

BANKNIFTY AnalysisObservations:: ----->>Look BANKNIFTY yesterday taken the support from trendline and showing bullishness. the price is completely trading in a range of previous day bearish candle. If this continue to move upside will observe a bearish gap be filled. If price breaks the trendline, we have strong support @ 43400 level, may again push the price upside. Keep watch this level. Sell Plan:: If price breaks the low @43700 level, and gives us pull back will go for short until 43400 levels. Buy Plan:: If price breaks yesterday high, we have an immediate resistance @44200 range, which is difficult to enter for long, until this breaks. If price breaks this range and gives us pullback will enter long, for target of bearish gap. If we use Fibonacci levels, if we draw it from previous low to high, which is exactly @ 0.6-0.5 range only. still the price is in uptrend only, no sign of bearishness. will be on buyside from 43400 level, until it breaks. If price is again consolidation at 43700-43400, price have a chance of breaking downwards, wait until it breaks strongly. If price not break this level, enter for long on retracement. draw trendline on the opposite side as well, then only look for buyside confirmation.
NSE:BANKNIFTY
by IIT-Trader
06/06/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys, Good Morning everyone, According to the data today market is going to open Gap-Down After A Gap-Down opening if Banknifty sustain Last day Above 44300 and taking Support from 44300 then open target for T1-44400,T2-44500,T3-44600 If the Banknifty after a Gap-Down opening sustain Below 44200 and taking resistance below 44200 then the open Targets for T1-44000,T2-43800,T3-43600 Major Levels 44000,44300,44200 If the market stande in this area of 44200 to 43800, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTYLong
by mr_bull10
05/06/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys, Good Morning everyone, According to the data today market is going to open Gap-up After A Gap-up opening if Banknifty sustain Above 44200 and taking Support from 44200 then open target for T1-44400,T2-44500,T3-44600 If the Banknifty after a Gap-up opening sustain Below 43800 and taking resistance below 43800 then the open Targets for T1-43600,T2-43400,T3-43200 Major Levels 44000,43800,44200 If the market remains in the range of 44200 to 43800, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTY
by mr_bull10
BANKNIFTY--Trending or Ranging??Observations:: --->>Price is in Range Strong Resistance @44160-44080 acts as strong support, will observe a trending Bullish Expiry. If the same again acts as Resistance will observe Trending bearish expiry, if all this wants to happen price has to break 44250-44200 level. otherwise again range bound. ------>> Facing resistance in the zone 44460 Yesterday showing some bearish pressure ,and today price again closed in the same zone. price is taking the support @44250-44200 range. If this range is broken, we can expect the bullish gap be filled, pullback is needed. After finishing the gap, if the support zone @ 44250-44200 is acting as a resistance, Tomorrow is expiry, if price again rejected by 44160-44080 zone, price strongly fall until 43400 keep look at this level. If the same zone acts as support again will observe a new bullish momentum. we don't have a clear Targets and stop loss points, above All time High, so taking trades without confirmation is risky. Note:: Clearly we have previous strong resistance @44160-44080 level, If acts as support will go for buying up to 44250, 44450 only, above that we don't have any obstacles to resist. But keep in mind key level @44250-44200, if this level rejects, then only fall may happens. Price is ranging in 300 points only.
NSE:BANKNIFTY
by IIT-Trader
2
BANKNIFTY--Fakeout or Breakout ??Observations:: ----->> After breaking the trendline, price tested the Resistance zone, price is fall from resistance but not able to break the last HL, @ 43400 Level. Again a strong buy ness is observed from these level. Price is in consolidation @ Resistance and Support and not able to break any previous higher low, and previous Higher High now its clear showing strong bullishness, we are still in bullishness its confirmed + In Bullish consolidation between the Support and Resistance. see the below picture, If it's a Rally--Base--Rally, we will go for buying up to 45000 we have 2 possibilities, If price breaks HH @44150 levels, Breakout happens and price falls immediately below the 44150 levels is may happens, called fake breakout. If price consolidate between Supply zone 43900-43850 @ and supply zone @44080-44150, and breakout happens consider it as a fake out and we wait for the break out. If price comes below to these levels, @43650 demand Zone and 43400 demand zone, if price consolidates in these two zones and gives us a breakdown will wait its a fake breakout or breakdown possibility. we have to check all these conditions in Range bound market. In between we have a common point zone @43800-43850 that will back to the supply zone again. The same zone @43800-43850 will pushes the downside as well. All these are range bound Scenario's, look @ all these possibilities.
NSE:BANKNIFTY
by IIT-Trader
1
30/05/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONE Hello Guys, Good Morning everyone, According to the data today market is going to open Flat After A Flat opening if Banknifty sustain Above 44500 and taking Support from 44500 then open target for T1-44700,T2-44900,T3-45000 If the Banknifty after a Flat opening sustain Below 44000 and taking resistance below 44000 then the open Targets for T1-43900,T2-43800,T3-43700 Major Levels 44000,44200,44500 If the market remains in the range of 44000 to 44500, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTY
by mr_bull10