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Bankniftylevels

Bankniftylevels

@50% retracement Ban Nifty is already at it's 50% retracement level and could consolidate and move back up from here. Again as I explained in the Nifty analysis, with a big event looming at the horizon, cautious money might choose to stay out of the market and we will have to see how this affects the indices.

@50% retracement Ban Nifty is already at it's 50% retracement level and could consolidate and move back up from here. Again as I explained in the Nifty analysis, with a big event looming at the horizon, cautious money might choose to stay out of the market and we will have to see how this affects the indices.

49600 Bear cartel Yesterday's sell off was evident from the third hour when the momentum was arrested at once. I did not read it back then. Lost money expecting ATH. It was picture perfect price action. Let us see Bank Nifty will continue the uptrend today OR retrace further down before it continues the rally to ATH.

48500 Sting Bank Nifty could face big bears at 48500. The next stop and retrace level could be the 50% retracement and could consolidate for big moves on expiry tomorrow. Again will wait to get a feel of the intend of big hands before jumping into trades.

Uncertain Bank Nifty has not reached the X marked spot yet. A little higher ticks can be expected before it consolidates OR is shot down to a short term low. I will be more comfortable shorting Nifty at open.

Bank Nifty Support and Resistance Levels Bank Nifty Support and Resistance level, bank nifty trade is in the channel.

by CHAKSHUBHATIA_5

A steeper slope to climb!The "Channel bottom visit" we were referring to a few days ago, is done and the Level we marked " TO be protected" on 2nd May has been visited and protected (No close below that). We got the ritualistic bounce off there and now what ? The way back up to the top of the channel is not going to be an easy one and looks less probable. Was this bounce, induced by Amit Shah? If so, Banks will need a reason better than that to sustain the upward momentum. Not able to look up as of now. Shorting on upticks would be my mindset going into trade today.

Short

Crucial support level. This is the support we have been waiting for since 2nd of May. Now that we have made daily candles that look a lot like reversal candles to me, I am absolutely sure about being unsure on what to to. Will perhaps let Bank Nifty decide for herself on a moon first. Till then, I have a seat with the audience.

Caught in a tight zone Bank Nifty is stuck in a difficult zone from where it has a lot more to fall than NIFTY before we can say it's with the bears.

Short

Ritual pending If the ritual we mentioned yesterday plays out, a PUT buy in Bank nifty could be the trade of the year. But again Bank Nifty is also at a crucial FVG level. And to the bottom of the channel, it has a long way to go.

Short

Bulls on slippery slope. The last time Bank Nifty tried going up without testing the bottom of this channel was in Jan 2024. Look at what happened then. We opened to a large Gap down and completed the ritual. That ritual is pending in Bank Nifty. If that is the case, we will see a sting into the bottom before we continue higher.

Short

Battle of Straddles The FVG has been respected and this implies we are ready to fly. All will depend on the nerves of 49500 straddle writers. What steel their nerves are made of. If they run, Bank nifty runs to 50k. Now 50K is a psycho level and so are the sellers there. Overall I am bullish.

Long

Was never with the bears.Bank Nifty was never bearish the whole time. There is every possibility that 49300 will be protected this week. Every dip in the morning should be seen as a chance to buy calls. Unless some extraordinary selling comes in the market, Bank Nifty should either consolidate or fly. The only negative is the bearish day candle formed yesterday. The top of which will be the SL for Call writers.

Long

banknifty banknifty after breakout all timr high its rally going 4.70 percentage so 51000 banknifty reach chance

Long

Updated

Now what ?Bank nifty in in no man's land. The close of tomorrow's candle will give us some level to mark. There seems to be decent absorption at 49580. But how strong these shorters are will be have to be seen tomorrow. Ideally a HANDLE will have to be formed for a healthy up move. Now, how big a handle?

Never turned to Bears!Bank Nifty in fact never turned bearish. Also the sellers who are at 49000 do not seem as strong as the ones at 22800 for Nifty. On the whole, looks like if the market flies to the moon, Bank Nifty could land in Mars.

Long

[INTRADAY] #BANKNIFTY PE & CE Levels(22/04/2024) Today will be gap up opening in BANKNIFTY. After opening if banknifty sustain above 47550 level then possible upside rally of 400-500 points upto 47950 level & this rally can extend another 400 points if market gives breakout 48050 level in todays session.Any Major downside only expected in case banknifty starts trading below 47450 level to 47050 level.

[INTRADAY] #BANKNIFTY PE & CE Levels(18/04/2024) Today will be gap up opening in BANKNIFTY. After opening if banknifty sustain above 47550 level then possible upside rally of 400-500 points upto 47950 level in todays session.Any Major downside only expected in case banknifty starts trading below 47450 level to 47050 level.also possible reversal downside 47950 level.

[INTRADAY] #BANKNIFTY PE & CE Levels(12/04/2024) Today will be gap down opening in BANKNIFTY. After opening if banknifty start trading below 48950 level then possible downside rally of 400-500 points upto 48550 Level & this rally can can extend another 400 points if market gives breakdown 48450 level in todays session.Any Major upside only expected in case banknifty starts trading above 49050 level to 49450 level. also possible reversal upside 48550 level.

[INTRADAY] #BANKNIFTY PE & CE Levels(10/04/2024) Today will be gap up opening in BANKNIFTY. After opening if banknifty sustain above 48550 level then possible upside rally of 400-500 points upto 48950 level & this rally can extend another 400 points if market gives breakout 49050 level in todays session.Any Major downside only expected in case banknifty starts trading below 48450 level to 48050 level.also possible reversal downside 48950 level.

10 APRIL 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELS Hello Guys, Good Morning everyone, According to the data today market is going to open gap down Focus to buy above 48500 if sustain above 48400 focus for short selling After A gap down opening if Banknifty sustains Above 48600 and takes Support from 48600 then open target for T1-48700, T2-48800,T3-49000 If the Banknifty gap down opening sustains Below 48400 and takes resistance below 48400 then the open Targets for T1-48300, T2-48200,T3-48100 Major Levels 48500,48600,48800 If the market stands in this area of 48600 to 48800 then it is possible that even today the market will remain in the range.

Long

What a stop!At least Bank Nifty is listening to me. It did stop indeed. Now let us see how bullish the bullish of bulls are on Indian Banks and their short-term growth prospects. No one is accumulating HDFC at least as expected. Fresh buyers have to come in and buy some banks take it higher.

BankNifty Bank Nifty Daily Chart breakout with symmetrical triangle Pattern buy bank sector stocks & bank nifty 1Target 50,000 2Target 55,000.

Long

by KanikaAJagota

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