Banknifty day tradingIf market opens sideways and breaks 39550, we can buy
if market breaks 39300 then we can sell.
in case of gap up and gap down we will further see price-action
Bankniftytrading
BankNifty Trade setup Idea for 1 September, 2022Banknifty closed suuuper bullish on 30th August.
Which brings the following possibilities.
1. The market opens with a gapup, say 300-400 points higher. On which case, we could see some profit booking immediately and then there could be a consolidation.
2. Market opens between 39400-39550 levels, the market could build momentum and push higher to about 39900 levels and then consolidate in that range.
3. Market gaps down, say to 39200 level, which could cause a panic and cause continued selling, causing the market to reach 38800-38900 levels.
BANKNIFTY READY FOR ONE MORE FALL!!!
The Trend is from Weeky Supply to the Monthly Demand.
We have a Source Supply in Weekly, Destination Demand in Monthly.
Price has now just entered a Daily Supply which is a Trade Zone for Short position.
Tomorrow market level We expected some gap up opening in tommorow market for Tomorrow if Banknifty not open at gap up thn buy it above 38370 our target 38455 38550 38704
Bcz today we see that market was stuck at the particular level soo if it break the level a big upside has been seen and if market open at gap up thn our buying was 38805 bcz we expect to have gapup of 500+points
BankNifty Idea for 29 August, 2022 - Trade setupDue to global data, the market might open with a gap down or move down initially.
The immediate support is at 38800, but since the market has already tested it once, this level might break if the market has higher selling pressure.
The next level of support is at around 38400 levels.
On the higher side, i see a resistance at around 39500 levels.
Is Bank Nifty getting ready for breakout or breakdown ?Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please consult your financial advisor before trading.
Bank Nifty trading in very narrow range and getting ready for directional move.
OI data indicating weakness. Let us see how it goes.
Bank Nifty Level for 26/08/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please consult your financial advisor before trading.
BANK NIFTY
Bank Nifty is down by -88 points. Bank Nifty closed near day’s low, below 20 EMA, VWAP levels. Once again, we had a highly volatile day. PCR shifted down from 1.08 to 0.66 which is now back in bearish zone.
Highest open interest on call side at 39500 (Shifted down from 40000 to 39500)
Highest open interest on put side at 39000 (Shifted up from 38000 to 39000) – BULLS GOT TRAPPED
NIFTY
Nifty is down by -82.5 points. Nifty closed near day’s low, below 20 EMA, VWAP levels. Once again, we had a highly volatile day. PCR shifted below from 0.84 to 0.76 which is still in bearish zone.
Highest open interest on call side at 18500 (Shifted up from 18000 to 18500)
Highest open interest on put side at 17000 (Remained same at 17000)
Shall we expect trending market tomorrow after Jackson Hole meeting outcome?
Please do share your comments. Have a happy, healthy & profitable day ahead!
BankNifty Idea for 25 August, 2022 - Expiry Day Trade SetupSince the Market showed bullish signs yesterday. There are 2 possibilities.
Red: If the market opens at the same level or a little lower, then market can hit the break out level before reaching the 39200 levels. The level 39200 is an important level since lot of short covering would happen at that level.
Blue: If the market directly moves towards 39200, it might halt there for some time before breaking that level. Once it breaks that level, there is a higher chance we could see lot more short covering.
If the market opens with a big gapup of say 39300-39400, then there will be some amount of confusion created in the market. This might lead to BN moving down towards 39200-39250 levels to take support(hover around in that area till 11-11:30) then the market would decide.
BankNifty Idea for 24 August, 2022 - Trade setupSince the maket opened at 38000 levels yesterday, the sellers make huge profit in 2 days(about 1500 points). They would have wanted to buy a cover causing the market to have a good recovery.
Now since the market closed around 38850 levels, I think the market might take a pause today and become volatile in the range of 38800 to 39050, if the market opens at the same level or gaps up by 10-200 points.
If the market closes within the same level, then on thursday we might get a good buying opportunity on the up side, leading to a 300-500 point move.
BankNifty Idea for 24 August, 2022Since the maket opened at 38000 levels yesterday, the sellers make huge profit in 2 days(about 1500 points). They would have wanted to buy a cover causing the market to have a good recovery.
Now since the market closed around 38850 levels, I think the market might take a pause today and become volatile in the range of 38800 to 39050, if the market opens at the same level or gaps up by 10-200 points.
If the market closes within the same level, then on thursday we might get a good buying opportunity on the up side, leading to a 300-500 point move.
Bank Nifty Levels for 24/08/2022Dear traders, I have identified chart levels based on my analysis, major support, and resistance levels. Please note that I am not a SEBI registered member. Information shared here for educational purpose. Please consult your financial advisor before trading.
BANK NIFTY
Bank Nifty is up by 400 points. Bank Nifty closed above 20 EMA, VWAP level near day’s high. We had a highly volatile day. PCR shifted down from 0.61 to 0.90 which is still in bearish zone.
Highest open interest on call side at 40000 (Shifted up from 39500)
Highest open interest on put side at 38500 (Shifted up from 37000)
FIIs, DIIs & OTHER PARTICIPANTS DERIVATIVE DATA ANALYSIS:
FIIs (Bullish):
FII bought in cash market for 563 crores and bought in derivative market contract for 6510 crores (please do continue to read about whether they bought long positions or short positions). FIIs reduced their index & stock future long contracts & added short positions in index & stock future contracts. FIIs took long positions in index call as put contracts & reduced stock call & put contracts.
DIIs (Mild Bullish):
DII sold in cash for -215.2 Crores. DIIs have slightly added new positions in Index & stock future contracts. Heavily reduced positions in options contracts.
PRO (Bearish):
Pro traders have added short index & stock future contracts. Reduced option contracts in index & stock call contracts. Added option contacts in index & stock put contracts.
CLIENT (Bearish):
Retail/HNI added index & stock future contracts. Significantly reduced their index & stock call option contracts. Added index put contacts & reduced stock put long & short contracts.
Shall we continue to expect high volatility in next few days?
Shall we look for buy on dips or sell on rise opportunities?
Please do share your comments. Have a happy, healthy & profitable day ahead!
BankNifty Idea for 23 August, 2022The Market is suuuuper stretched right now, in the macro view, the global data is not good either.
Considering that the market should hold the 38000 levels(most important level). If it shows signs of breaking down, then we might get to see lower levels.
Bank Nifty - Shall we expect high volatility in next week ?Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Indix VIX jumped up 5.39% from 17.35 to 18.29. Dow Jones is down 292.3 points and Nasdaq is down by 263 points which is decent correction in a day. US DOLLAR INDEX has gone up to 108 level and weakness in Rupee is certainly not a good sign for Banking sector as a whole.
Bank Nifty closed below 20 EMA and VWAP level. We had a highly volatile day. PCR shifted from 1.2 to 0.67 is now in bearish zone. Bank Nifty has wiped out the 3 days of gains within a gap. Selling was quite sharp.
Highest open interest on call side at 39500. However call writing increased significantly
Highest open interest on put side at 38000. However heavy short covering and OI reduced significantly on put side.
FIIs, DIIs & other participants derivative data analysis:
FIIs:
FIIs have bought in cash & heavily sold all types of derivative contracts on net basis. FIIs change their bullish stance to bearish in no time. Let us see if they will continue to sell or it's just a profit booking
DIIs:
DIIs have sold in cash but bought 18000 plus future contracts in Index & stocks to partially absorb FIIs selling
PRO:
Pro traders too bought 14000 plus future contracts in Index & stocks but they have hedged their positions by selling calls & buying puts.
RETAIL/HNI:
Retail traders as usual created long positions opposite to FIIs, by buying 11700 Index Future contracts, heavy index calls buying 277973 contracts, stocks call buying 40280 contacts and stocks puts selling -58136 contracts. Few smart retail traders sold stock futures 11037 and hedged their contracts.
Overall, shall we expect high volatility in coming week?
Shall we look for sell on rise opportunities? or
Is market is taking few steps back for bigger move towards all time high?
PLEASE DO SHARE YOUR FEEDBACKS AS WELL AND TRADE SAFELY & CAREFULLY TO AVOID GETTING INTO BULLS TRAP IN CASE OF SHARP BOUNCES.
Have a happy, healthy & profitable day ahead!
Banknifty weekly analysis for 22/08/22Banknifty on the weekly time frame has formed a bearish candle and closed below the crucial round number 39000.
On daily time frame, banknifty has formed a bearish engulfing candle and lost around 700 points in a day.
The market has started trading below its 20 ema on hourly time frame and closed below the level.
A nice price action is formed on 15 minute time frame and market is taking support from 200 ema.
Support :- 38900, 38765, 38400
Resistance :- 39140, 39340, 39650
The markets can be volatile.
Wait for a price action near the levels before entering the markets.
Bank Nifty Future Levels for 22/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Bank Nifty closed below 20 EMA and VWAP level. We had a highly volatile day. PCR shifted from 1.2 to 0.67 is now in bearish zone. Indix VIX jumped up 5.39% from 17.35 to 18.29.
Highest open interest on call side at 39500. However call writing increased significantly
Highest open interest on put side at 38000. However heavy short covering and OI reduced significantly on put side.
Dow Jones is down 292.3 points and Nasdaq is down by 263 points which is decent correction in a day. Bank Nifty closed the few days of gap within a gap. Selling was quite sharp.
FIIs, DIIs & other participants derivative data analysis:
FIIs:
FIIs have bought in cash & heavily sold all types of derivative contracts on net basis. FIIs change their bullish stance to bearish in no time. Let us see if they will continue to sell or it's just a profit booking
DIIs:
DIIs have sold in cash but bought 18000 plus future contracts in Index & stocks to partially absorb FIIs selling
PRO:
Pro traders too bought 14000 plus future contracts in Index & stocks but they have hedged their positions by selling calls & buying puts.
RETAIL/HNI:
Retail traders as usual created long positions opposite to FIIs, by buying 11700 Index Future contracts, heavy index calls buying 277973 contracts, stocks call buying 40280 contacts and stocks puts selling -58136 contracts. Few smart retail traders sold stock futures 11037 and hedged their contracts.
Shall we look for sell on rise opportunities? or
Is market is taking few steps back for bigger move towards all time high?
PLEASE DO SHARE YOUR FEEDBACKS AS WELL AND TRADE SAFELY & CAREFULLY TO AVOID GETTING INTO BULLS TRAP IN CASE OF SHARP BOUNCES.
Have a happy, healthy & profitable day ahead!
Banknifty gave bearish sign in weekly chart This weekend everyone will begin to notice Gravestone Doji on weekly chart of BankNifty.
Its good to notice it. But the game is in staying ahead of what is going to form. It can be done. It is being done.
Bank Nifty Future Levels for 19/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Bank Nifty closed near day's high above 20 & 50 EMA and VWAP level. PCR (1.2) is in bullish zone. Indix VIX (17.35) down by -1.85%.
Highest open interest on call side at 40000
Hifty highest open interest on put side at 38000
FIIs did cash selling of -1706 Crores. Reduced derivative long positions significantly. Today Proprietary traders & DIIs traders were long in Index and Future contracts on net basis. Surprisingly, retail traders switched to long side today.
Dow Jones is down 100 plus points and Nasdaq flat at this point of time. Please do review closing Index data.
Is correction due now after strong unidirectional rally?
Shall we start looking for sell on rise opportunities or continue to look for buy on dips opportunity with strict stoploss?
PLEASE DO SHARE YOUR FEEDBACKS AS WELL AND TRADE CAREFULLY TO AVOID GETTING INTO BULLS TRAP.
Have a happy, healthy & profitable day ahead!
Bank Nifty Levels for 17/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Bank Nifty closed above 20 & 50 EMA and VWAP level. Bank Nifty has shown strength and trying to move in upward direction. PCR (1.04) is in sideways to mild bullish zone. FIIs continue with buying of 2429.6 Crores and DIIs are slowly doing profit booking with selling of -136.2 Crores. Proprietary & retail traders are heavily short in Index and Future contracts. God saves retail traders.
Bank Nifty highest open interest on call side at 40000
Bank Nifty highest open interest on put side at 39000
Overall uptrend looks intact. Shall we continue to look for short straddle/strangle ? Buy on dips opportunities ?
PLEASE TRADE CAREFULLY TO AVOID GETTING INTO BULLS TRAP.
Have a happy, healthy & profitable day ahead!
Banknifty weekly analysisBanknifty weekly chart
On the weekly time frame banknifty is looking stronger than nifty
39500 will act as a strong resistance and profit booking near resistance is possible
Strong up trend support is placed at 36000 a healthy retracement will this support zone will give a chance to create fresh long position
2 consecutive day closing above 39500 will reject down side move and next target can be 42000 on weekly basis
Bank NIfty Levels for 16/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
FIIs continued with strong buying in CASH & F&O of Rs 7405.5 Crores. US market also performed really well on Friday. Let us see the US market performance tonight. Bank Nifty is now just 6.66% away from all time/52 week high. ICICI Bank performed exceptionally well and made new life time high. BN's highest open interest in call as well put is at 39000. PCR is still in buying zone. Overall, all positive & negatives are factored in. All overnight positions must be hedged to handle gap-up & gap-down. Shall we expect a profit booking & and offer us buy on dips opportunities or market will continue with bull run? Shall bulls/specially retail investors should slow down to avoid getting into bulls trap?
Banknifty day tradingmarket is in bullish mode.
if it opens sidewasys and crosses resistance then buy
for big gap up we will see futher price-action
for gapdowm, we will only sell if it breaks support
Bank Nifty Future Levels for 12/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Bank Nifty is quickly approaching Strong Resistance Zone. All positives are already factored in. Shall we wait for decent dip for buying anymore to avoid bulls trap?
Bank Nifty Levels for 11/08/2022Dear traders, I have identified chart levels based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose. Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT. OVERALL, WE SHOULD CONTINUE TO LEARN & BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2
Inverse Head & Shoulder Breakout in Bank Nifty Future. Bullish divergence in RSI is also observed. Bank Nifty trading above VWAP & all important moving averages. US market trading firmly. Tomorrow morning possibility of gap-up in Bank Nifty is very high. Bulls should be cautioned at higher levels. Let us see whether profit booking is going to drag down Bank Nifty then Bulls will lift it further up. Is buy on dips likely to continue tomorrow as well?
