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Bankniftytrendanalysis

BANKNIFTY--Which is Support,Demand or Resistance ??The neckline broken strongly... the trendline broken strongly.... Price opens gap down and moved to down side drastically. Now we have 2 options, where to look for short again. 1. Neckline or 2. Trendline. So in order to reach these 2 points, price has to reversal, so from which zone we can expect a reversal. If we see on bottom side, today price has taken the support from 44800 level, and price is exactly closed in a strong fall area 45100. If tomorrow again opens a gap down and continuously fall, and breaks 44800 level we have to look at 2 places for buy, one is 44600 level and another one previous strong resistance may acts as support 44500 and pushes the price upwards. price closed at 45100 previously it is a strong supply, so on continuous move it pushes the price more towards downside. If price reaches any of these 2 places look for buy, Look for sell @neckline or trendline. No retest is observed in this places. Note:: Price may break the trendline or Neckline and moves upwards again to reach the ATH. So careful here.
NSE:BANKNIFTY
by IIT-Trader
23
BANKNIFTY-- @Triangle Breakout Level??If we look at the chart price breaking the trendline and moving super bullish... after breaking the trendline price moving like a rocket. Today after breaking the trendline price is not moving much points.... it's slowly moving to the upside.. Case 1:: What happens if price not able to move upside:: If tomorrow price opens gap up and it has to move upside, if its bullish again. Case2 :: If price opens gap down its clearly indicating bearish sign. sellers will immediately take the price downwards...so no more bullishness in the market. consider end of bullishness. If tomorrow price falls below the trendline again... we will wait for the perfect place to enter for short again. by keeping the stop loss above the previous strong fall high. targets up to the Demand and bullish gap point only. If price breaks the 45600 level, we will notice a strong fall happens up to 45200 area where there is more liquidity, to eliminate all the buy orders. After a strong fall from the area 46100 level, today again price comes back to the same level.. To test the supply zone price is moving in a bullish channel... so until price breaks this and retest will not go for short side.... Note :: some times price opens up or down and fills the gap and continue fall or rise again...so be cautious in such cases. will see what happens in the next session. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered.
NSE:BANKNIFTY
by IIT-Trader
43
BANKNIFTY--Retracement or Reversal ??Observations:: After a gap up opening price is reversed immediately.... can we consider this as a buyers exhaustion... The previous bearish gap is resisting the price to go down... if this failed we have an immediate support in the form of resistance acts as support... previous multiple times that price got rejected from the same zone can push the price up... until these zones failed to acts as support, then only will go for short side... if todays bearish move is a retracement, then tomorrow we will observe a bullish momentum again.. if it is a bearish sign, resistances failed to acts as support a strong fall is going to observe... If today's move is strong bearish and again rejects from top will be on bearish side up to...45100 levels. Yesterday A strong bullish move is initiated to exit all the long positions... then it will be fall again... we will see what happens in the live market...
NSE:BANKNIFTY
by IIT-Trader
46
Bank Nifty Trade Setup (09-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. t As mentioned in June 7th Trade setup price is moving in Ascending triangle pattern and to it took support near trendline. Trade setup for tomorrow: As we know patterns can fail today price took support near ascending trendline 1.) If opens flat and doesn't hold this trendline will look for short for target of support (43840,43700 and 43650. 2.) If it takes support at trendline will look for buying for target of 44141,44231 and 44300 or PDH. 3.) No trades in gaps only after solid setup. as i loose most in gaps some find easy to trade gaps. but they doesn't suit me. so will wait for good setup is there will be,otherwise no trades.
NSE:BANKNIFTY
by TradeInsights
Bank Nifty Trade Setup (07-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. All indices are range bound from and only give risky trades no clear directions. and boring price action i avoided trading due to work and whenever i checked there was no movement in price. If there were no gaps there could be good setups as price is in Ascending triangle and rejecting Resistance and take trendline support. Support is placed at 44140, 44000. Resistance is placed at 44500,44240. For tomorrow's setup: 1.) If opens flat and takes support at 44240 for target of 44500. 2. if there are any gaps will only trade if there will be good setup. on lower TF. No trades if there will be another range bound action.
NSE:BANKNIFTY
by TradeInsights
Bank Nifty Trade Setup (29-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal. As posted in previous day setup that from price as Banknifty is in parallel channel with 44151 to 44071 as resistance zone and 43470 to 43370 as support zone and on 26-May-2023 price was near support zone after a sell off in previous sessions and it took support near that support zone and moved all the way up to resistance zone moving almost 400 points in a day. so far it was a good session and worked as per trade setup. ( Cannot post previous day chart to keep record of this price action have to look for previous day trade setup.) For tomorrow this will be my trade setup: 1.) If opens flat which is near resistance zone. if price doesn't hold near this resistance on 15 min TF then will look for selling after break of nearby support of 43880. If price took support on break of this resistance zone i will look for buying. (Views are bullish so will only trade against the primary trend with strict stop loss and target levels. 2.) If opens gap up above resistance zone and if takes supports above the resistance zone on 15 min TF with good candle pattern and volume. then will look for buying only for target will be open with stop loss of 44151 (ATH). 3.) If opens gap down at nearby support 43880 will look for price to take support or if it became resistance and target will be as per this parallel channel support zone which is 43750, 43650 and 43500. Things to keep in mind: As mentioned above views are bullish so will trade cautiously against the primary trend with strict stop loss and target level on downside. Hit like to keep me motivated for keeping my trading journal as it only take less then few seconds to hit like but it gives me motivation for preparing for my session. also one can comment how i can make it better or need any improvements in my trading setups and improving this journal. as this is my only trading journal not keeping any excel or any online sheets as i never used before.
NSE:BANKNIFTYLong
by TradeInsights
BankNifty Top Down AnalysisDear TV Family Members, It’s been a while I have published any idea’s, been occupied for a while hope you all don’t mind. Bank Nifty looks range bound between 44095 to 43757. Reason being on 5 min chart observed bullish shark harmonic pattern completed & in play, Bullish Gartley XAB completed. Points as per TA observed on a 15 Min chart: 1. Bullish Shark Harmonic pattern completed as per chart below, Min target would be 43995.65 & Max target would be 44067.65. 2. Bullish Gartley XAB Completed as per below chart, If Price gets rejected anywhere between 43995.65 to 44067.65 then the pattern is still valid. If price crosses above X-A leg (44095.25) then pattern gets invalid. Targets & SL provided in chart and screens for different time frames. Disclaimer: “The above is an Educational idea only and not any kind of financial or investment advice (Non SEBI registered). So, please do your own DD (Due Diligence) before any kind of investment”. Do you like my TA & ideas!! Want to keep yourself updated with current market action? Then don’t forget boost & subscribe for more analysis. The more boost & comments further more motivation for publishing. Let the Trading community & family know about your opinion with comments. Cheers.
NSE:BANKNIFTY
by Tron029
BANKNIFTY--Break @ATH or Reversal ??---->> The index is trending upwards. ----->> until price breaks demand zone@43500-43350 level, no sign of bearishness in the BN. ----->> The demand created @ 43600 have a chance to take the price above 44200 levels, careful here short. ----->> After taking the support from these levels, price is not moving above the 44200 levels. yesterday showing bullish pressure @43600 levels, if it will continue to move will see a new highs above @All time highs. @ This level, sellers aggressively try to push it downwards. If buyers failed to take above levels, causing a break below 43500-43350 levels, sellers will take advantage of it causing break of bullishness. Consider only a short term downtrend. ------->> Fake outs may possible @44200 levels, keep track this levels. -------------------------------------------------------------------------------------
NSE:BANKNIFTY
by IIT-Trader
2
BANKNIFTY--Enters in to Consolidation ??----------->>the stock is trending upwards in daily time frame. now the price is facing resistance 44000 levels. ------------>> We will wait for the price to break the range for confirmation of the trend of bank nifty, still it is in bullish trend. ------------>> Yesterday the price is in ranging. ------------>> the previous supply zone@43900-43850 clearly resisting the price to go down. ------------->> the previous demand zone @43450-43400 level failed to take the price above 44150 levels. ------------->>If price clears both these supply and demand zones , price heavily falls below 43400 levels and reach to 43100-43000 levels. ------------->> Keep track these zones, will the range be broken or not. ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- If price breaks 44150 levels, we will observe again bullishness in bank nifty will take to new levels. be careful here false breakouts may happen at these levels. Now the plan C is working, may plan B also be possible. Manipulation and turning back again to below.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY--Last push towards 44K or 1 left ??Observations:: ---------->> the previous supply zone clearly resisting the price to go down , witnessed buyers succeed this time to take the price to higher levels. ---------->> Hence the price is closed @43900 levels. If tomorrow price breaks 43400 level, we will observe a strong fall towards 43000,43100 levels ---------->> we have an untested demand zone @42200 will push the price upwards again to 43400 or 43600 (this will resist the price to upside again) gives pullback. ---------->> Be careful at 43000-43100 levels. -------------------------------------------------------------------------------------------------------- consolidation + up move = fall again ,if price opens ((or falls)) below 43600 levels, look for sell opportunity at 43400 to 43600 levels.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY--Bearish Turn or Bullish ??Observations:: ---------->>Price opened gap up and observed a strong fall with consolidation. ---------->> the previous supply zone clearly resisting the price to go down, witnessed buyers failed to take the price to higher levels. ---------->> Hence the price is still closed in the range of 43600-43400. If tomorrow price breaks this level, we will observe a strong fall towards 43000,43100 levels, if price again breaks 43000 levels, 42850 level acts as a pullback to 43000-43100 level, at this level previously strong sell off is observed, here(43000-43100) if again strong push to the down side happens price falls below 42850,up to 42400 levels. ---------->> we have an untested demand zone @42400 will push the price upwards again. ---------->> Be careful at 43000-43100 and 42500-42400 levels. -------------------------------------------------------------------------------------------------------- consolidation + gap = fall again ,if price opens above 43600 levels, look for sell opportunity at 43800-43900 levels.
NSE:BANKNIFTYShort
by IIT-Trader
BANKNIFTY-- If 43400 resist,43000 will acts as Support?? Observations: ------->>After A strong fall price showing bullish movement towards 42400 levels, -------->>Previous strong resistance @42700 acts as support and showing bullish pressure towards 43000,43400 levels. ------->> If 43400-43350 level acts as Resistance(Previous Demand Zone) price will again fall from this level. --------->>previously Strong rise happens from @43400-43350 levels, also be careful at this level before long will again see some bearishness in this zone. note: Tomorrow mostly price consolidates between these 2 levels. If 43350-43400 level acts as resistance ,and the zone @43000-43100 previous resistance(If turned to support),then only price is bullish again. If 43000 level failed to acts as support, price again fall back to below 42700 levels . Careful at these levels.
NSE:BANKNIFTY
by IIT-Trader
2
BANKNIFTY--42700-42650 acts as Support??Observations: After A strong fall price mostly enters into consolidation stage. Previous strong resistance @42700 broken and showing bullish pressure towards 43000,43600 levels. (Price broken the 42700-42650 zone to downside and closes inside this zone.) If the same level acts as support price will again rise from this level, Strong fall happens from @43200-43100 level also be careful at this level before long will again see some bearishness in this zone. Try to be on the long side from 42700-42620 levels to reach 43000-43200 levels. Go long: Above 42850 to reach 43000,43100 levels. Short: Don't think of Short now. be on short side from 43200 levels up to 42850,42700 only. price breaks 42620 and gives retest go short for 42400 levels.
NSE:BANKNIFTYLong
by IIT-Trader
1
Banknifty Parallel Channel Time CycleWhat do you think? Will banknifty be able to repeat its time cycle? Because 1 feb 2021 to 25 oct 2021 in Parallel Channel two times touch at upper level within 366 days (38 weeks).And then 25 oct 2021 to 13 jun 2022 falls 22.87%(9550) at Parallel Channel lower level.Again banknifty repeat the 1st cycle with same time period at lower level (13 jun 2022 to 13 mar 2023).Banknifty will be able to repeat its second time cycle which target1-9550points target2-56000 to 57000 banknifty level
NSE:BANKNIFTYLong
by tusharsaini020
1
BANKNIFTY LONG LEG DOJI ON MONTHLY TF #BANKNIFTY Strong Reversal candle this week & Long Leg DOJI on Monthly Chart After 3 Consecutive Months Sell-off!! Only a break below 38600 level would mean a change in trend to downward. The price perfectly fulfills my last idea and moved towards the upside and also closes above the 39888+ On weekly Chart. From the support zone of 38600 price moved towards the upside till the 40650+ with a bullish candle and price closes on positive note on weekly chart in the Friday session after 3 Consecutive red candle on weekly chart we closes in big green candle in the last week. Now the price can head towards the 41000-41222 levels to touch the Downward parallel channel and if price go sideways for 1 to 2 days near the upper hand of parallel channel and than breaks the upper parallel channel and level of 41222 and sutain above it than we can see good upside move and targets will be 41800/43000+ In coming trading sessions. If price unable to breaks the upper parallel channel and again respects it and face Resistance than we can again Move towards the downside till the support level . Level of 38500 is support for the Banknifty on monthly chart.
NSE:BANKNIFTYLong
by Jha_Nidhi