Key levels for Bank NiftyHere, I have provided key levels for Bank Nifty. These can act as support or resistance. Since we have volatility contraction (sideways all day) today, we can expect big move in any direction in next trading day(21st April 2022).
Disclaimer: This is for educational purpose only. Any buy or sell is not recommended. Please do paper trading before entering into market.
Bankniftylevels
Banknifty for 21 April 2022Today's Price Action
Opened slight gap-up.
Resisted at previous support turned resistance .
Traded within the range of the previous candle.
Support at 35530-35410
Further Resistance at 36920 - 37050.
Price action still looks weak, chances are still high that we could see further sell-off to the next support levels.
Recovery can come only if the price opens above or sustains above 36500 levels.
BANKNIFTY Levels for 20 April 2022
Banknifty opened a slight gap up.
Tried to hold the support mentioned in the previous posts( refer to the linked post)
Weakness started to creep in post 2:00 P.M and the support was broken aggressively.
Now What's for tomorrow.
Considering today's price action, we can see further sell-off tomorrow up till the next support levels i.e. 35540- 35400
Resistance at 36800- 36900
Expecting high volatility tomorrow, considering the wide Support and Resistance Range - 36900 to 35400.
Banknifty Setup For Tuesday 29/03/2022During the session banknifty made strong come back from bottom and closed above morning high.
On the daily time frame the index made a hammer candle which is bullish sigh.
Banknifty components are doing great and strong traction is visible.
Trading setup
Buy above 35770
Target 1 - 35900
Target 2 - 36030
Target 3 - 36160
Sell below 35470
Target 1 - 35350
Target 2 - 35210
Target 3 - 35030
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Stay tuned for intraday update.
Bank nifty setup for 29/03/2022Bank nifty has given a big up and down movement today.
On 4 hour time frame, market has closed above the 20 ema.
India vix was down today and market are green after a sudden downfall in the morning.
There is a bullish momentum in the market.
Resistance :- 35800, 35930-40, 36130
Support :- 35630, 35450-35500.
Wait for the candlestick pattern to form near the levels before entering the trade.
BANKNIFTY : Analysis for 24th MarBANKNIFTY respected our levels dot to dot. ccheck yesterday's Analysis
today BN trade under one range in second half. Its very important to cross that resistance to back in bulls control
BANKNIFTY levels are available on chart
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Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
BANKNIFTY : Intraday levelsBANKNIFTY recovery in 2nd half yesterday. and very well respected our support / resistance
Now its near critical resistance. it needs to break today
Levels are marked on chart
Like, Share, Comment for regular updates.
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
Banknifty setup for Wednesday 23-03-22During the day we have seen 900 points recovery from bottom and 348 points above closing from previous closing.
This sharp rally is a sign of strength
Trading setup
Buy above 36660
target 1 - 36820
Target 2 - 36950
Sell below 36300
Target 1 - 36180
target 2 - 36040
Banknifty chart setup for Monday 21/3In last 2 previous sessions there was huge gap up and it was total 1500 points move in just two days.
Based on above chart resistance is placed at 36700 followed by 37000
When banknifty will close above 37000 resistance further up move will open.
On the flip side 35880 will act as a support.
Breaking below 38500 we can see 35080 level near future.
How to trade banknifty on coming days?
Buy above 36720
Target 1 - 36880
Target 2 - 37050
Sell below 36200
Target 1 - 36000
Target 2 - 35880