BANKNIFTY/NIFTY ANALYSIS FOR TUESDAY 20TH JUNE-FOR EDUCATION PURBANKNIFTY/NIFTY ANALYSIS FOR TUESDAY 20TH JUNE-FOR EDUCATION PURPOSE
BANK NIFTY:-
If BankNifty sustain the level of 43650 break 43750,then 43850-43950-44050 level can be achieved.
If BankNifty break down 43650 and break 43550 spend time below then 43450-43350-43250
NIFTY:-
If Nifty sustain the level of 18750 and break 18875 then 18800-18825-18850 level can be achieved.
If Nifty break down 18750 and break 18725 then 18700-18675-18650-18600.
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor.
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Bankniftyprediction
BANKNIFTY--Consolidation + Down = Up ??Observations::
---->> A strong bullish momentum is observed from this zone...43400 level...
---->> To reach this zone 43400 level from resistance price is approching with strong consolidation.
---->>if this zone again acts as support,will be on buy side until the Base low 43900, Base High 44200 only.
---->> Drop-Base-Drop formation is observed.
---->>If the base resist the price, to go upside...will again observe a fall below 43400 levels...
BANKNIFTY--Gap Down or Gap Up ??observations::
After a strong fall price is in consolidation,
price is in a range more than two days and today witnessed a pullback is observed...
If it is a pullback, tomorrow we will observe a bearishness again....
If we see still the strong supply zone is located at 44300 levels..
If tomorrow price opens gap up and showing bullish pressure will be on buyside until 44300-44350 levels
if the supply zone @44200-44160 range acts as support price will again touch ATH.
If price opens, Gap down, we will look at 43700 area for buy side.. where previously gap up is observed
If price is showing strong bullish pressure @ this level will go for buy on pullback.
After Gap down, no buying pressure and again showing consolidation...
will be on sell side for targets of 43400 levels.
and we will look for buyside at 43400 levels.
If price again Strong bullish from bullish gap levels...and moving above levels..
will be on buyside until the supply zone..@44300-44350.
BANKNIFTY--Retest or Fall ??Observations::
Price has broken the trendline...strongly
now we have to see it will continue to drop or will retest the trendline...
if we see the chart,
trendline retest if possible test area is 44200 or strong fall area @44350 level.
If we see on bottom side...strong reversal is observed with gap @43700 and is still not at finished.
if price fall continue we can observe this gap be finsihed soon.
if Price is going to test the supply zone @44350 to fall again
If tomorrow price is range between 44000 and 44160 levels and goes up look for sell.@ Supply Zone.
09/06/2023 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 44500 and taking Support from 44500 then open target for T1-44600,T2-44700,T3-44800
If the Banknifty after a Gap-Up opening sustain Below 439000 and taking resistance below 439000 then the open Targets for T1-43800,T2-43700,T3-43600
Major Levels 44000,44300,44200
If the market stande in this area of 44500 to 40000, then it is possible that even today the market will remain in the range.
BANKNIFTY--Bullish Gap or Bearish Gap??observations::
We have resistance in the range 44270-44255,
if failed to resistance price will reach 44340-44310 range.
we will observe some consolidation in this area 44250-44360 range.
we have support @44150-44140 range ,if failed will go for short.
we have bearish gap @44450 range...
if price breaks the resistance @above zones.. will observe gap may fill...
we have bullish gap left @43880-43900 range.. will again push the price to higher levels.
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.
BANKNIFTY--which is Support Trendline or Demand Zone ??Observations::
Price is exactly closed near the trendline...
if trendline acts as a support we will observe bullishness again...
if price breaks the trendline and takes the help of demand zone to move up again.
We have a demand zone 43400,which is a strong demand may acts as support again.
keep watch these 2 Levels.....
1.Trendline Support or
2.Demand Zone Support.
02/06/2023 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,T2-44600,T3-44800
If the Banknifty after a Gap-up opening sustain Below 44000 and taking resistance below 43800 then the open Targets for T1-43600,T2-43400,T3-43200
Major Levels 44000,43800,44200
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.
6/01/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEAccording to the data, No bullish trend is going to come until the talk market breaks the level of 44500 and does not sustain above.
And if you seen, there is a big support zone of 43600, 43400 and 43800
From my point of view, banknifty is moving upwards from the close support of 43800, if today it breaks 44500, then a big bullish move can be seen in Banknifty.
If today doesn't break 44500 then market can stay in range
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.
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.
29/05/2023 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 44000 and taking resistance below 44000 then the open Targets for T1-43900,T2-43800,T3-43700
Major Levels 44000,44200,43500
BANKNIFTY@ Breakout or Consolidation??observations::
--------->>Price is still in the range only, 44200- 43600 range only. we cannot predict the next momentum until price breaks this range.
------->>until keep in the buy side from 43400 and sell side from 44200 levels.
Use the principle range bound market, buy @ support and sell @ Resistance.
If we see the same chart in different way it looks like this,
Broken the trendline and retest of the trendline and falls below the resistance.
again rise from the support @43400 levels.
Until price breaks out of the range, we can clearly consider the BANKNIFTY is bullish in higher timeframes. so we are looking for buy opportunities only.
If we see clearly today price exactly closed @ resistance previous support may acts as resistance, and if price falls to below levels @43400 again will go for buying, because price is in range, for target of 44200 only.
if price breaks and gives retest will go for sell. Fake breakdowns and fake breakout may also happen.