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Bankniftyview

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.
NSE:BANKNIFTY
by IIT-Trader
2
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.
NSE:BANKNIFTY
by IIT-Trader
1
Bank Nifty Trade Setup (26-May-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. Picture is worth a thousand Words as from the chart Bank Nifty is moving between 751 points from 11th May and if traded with patience and with proper trade setups one can make profits. This will be my Trade Setup for Tomorrow: From price action we can see price is moving in Horizontal Channel and Today it made lows and took support near same zone which is previously tested as long as price don't don't this zone we have to trade within this range of 770 points. Setup will be 1.) If it opens flat nearby support is 43633 if it sustains this support on 15 mins then will look for CE Buy for nearby resistance which is placed at 43756 and then 43830. 2.) If gap down will look for price to take support at same support zone where it took support today or it's same as Today's low. and will take CE Trade from that level. 3.) If opens gap up then i will look at resistance which is 43756 and 43830 then i will look for PE Trades for nearby support zone or CPR levels. Views are on long trade if it respects this channel. maybe we can see break above this channel on last monthly Expiry :) Hit like to keep me motivated for keeping my trading journal also if you can help as Trading View is holding rewards if Ideas or Script can be listed in Editor Picks :) . also one can comment how i can make it better or any improvements i can make in my trading setups or improving this journal.
NSE:BANKNIFTYLong
by TradeInsights
2
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.
NSE:BANKNIFTY
by IIT-Trader
1
BANKNIFTY--Breakout or Breakdown ??------>> Finally the trendline broken strongly, after a long time. -------->> if price again wants to test the Resistance or continue to fall down. price is exactly closed in the demand zone, stronger one, actually its supply zone acts as demand. if this acts as support price is again bullish, and will test the supply zone again, and fall back or continue to move upside. Plan A:: Keep on the buy side from 43600 levels until it breaks. if price again breaks 43850 level and not able to go below yesterday low, we will be on buy side for target of 43950 and 44040 and 44160 level. plan B:: If price falls below demand zone, we will sell on retracement. Plan C: If price reaches the All time high again, we will go for short with confirmation only. if again price fall below 43950and takes the support @43850 pushes the price up, then sell @43950 zone. Plan D:: Price may consolidate between the Supply zones moves up breaking the all time high.
NSE:BANKNIFTY
by IIT-Trader
1
25/05/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys, Good Morning everyone, According to the data today market Gap-Up is going to open After A Gap-Up opening if Banknifty sustain Above 44000 and taking Support from 44000 then open target for T1-44200,T2-44400,T3-44500 If the Banknifty after a Gap-Up opening sustain Below 43600 and taking resistance below 43600 then the open Targets for T1-43400,T2-43200,T3-43000 If the market remains in the range of 43600 to 44000, then it is possible that even today the market will remain in the range. Major Levels 44000,44100,43500
NSE:BANKNIFTYShort
by mr_bull10
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--Case1 or Case2 or Case3??The yesterday supply zone clearly resisting the price to down, after breaking the supply zone price reached the demand zone that form today. clearly the price is bullish again, still no sign of bearishness in the BANKNIFTY. Consolidation + Downside movement = Bullish again All the banking stocks are near its supply zone, SBIN,HDFCBANK @ Demand zone, Axisbank at Supply ready to test, ICICI In bullish channel, witness clearly in buyside, let's see what happens tomorrow. Case 1:: if tomorrow opens gap down and clearing demands and price again comes back to the supply we will go for sell in bank nifty. Case 2:: If price is again bullish from demand zone, will be on buyside above supply zone candle, it may reject again, until all time high. Case 3:: if price rejects from supply zone and not able to go below demand again buyside until ATH. This Post is Helpful Pls Like It, It give me Motivation. Thanks
NSE:BANKNIFTYLong
by IIT-Trader
Bank Nifty Trade Setup (23-May-2023)As posted yesterday price is consolidating between 700-800 Points near ATH Level. From price action Its moving in Lower Highs and Higher lows forming symmetrical triangle pattern breaking this pattern on either side can give 200-250 points for the levels of horizontal resistance also ATH on upside and horizontal support at 43550 levels. For tomorrow Setup i will look for following : 1.) If Opens flat will wait for break of this triangle pattern and on which ever side it break will trade accordingly for target of Support or Resistance levels. 2.) If opens gap up will check if it retest this pattern and if sustain the Gap i will look for buying for target of ATH which will also be partial booking or full booking as per my time for it. 3.) If opens gap down will follow the same check if it retest triangle pattern if doesn't sustain will buy PE for target of support level. if price sustain above triangle lower trendline i will look for buying with first target of Triangle upper trendline. This will be my personal trade Setup, This is not an advice of any kind to trade for anyone. Hit like to keep me motivated for keeping my trading journal. also one can comment how i can make it better or any improvements i can make in my trading setups.
NSE:BANKNIFTYLong
by TradeInsights
BANKNIFTY--Weakness in Demand Zones??Observations: What is the sign of weakness in demand zones ,is this a reversal is going to happen in BANKNIFTY. Until one of the demand zones gets broken we cannot expect a reversal in bank nifty , it has to break strongly, and has to reverse for test again. until don't expect a reversal. Hope this expiry is in Rangebound. Look at demand zone created @43500 move is strongly, when its tested again strong but not as strong as previous. Every demand failed to create high also. purely failed demands. Now look @ 43800 clearly weak one, if we observe a strong supply that breaks demands then only expect a reversal mechanism works. Until wait.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY-- Monthly Expiry is Trending??BANKNIFTY index Statistics:: We have seen clearly a bullish movement from Start of April ,from 40600 levels. April Month : Is said to be bullish price, rise from 40600 to 43200 - an overall of 2600 points moved upwards. May Month:: 43200 -43800(Today) levels = Almost +500 points range. If price falls below @43200 we can say that the overall month is bearish. Consolidation:: ------>>what is the sign of this huge upward momentum stops and trading in a range, the price is clearly trading in a range bound, from last one month. Will the range be broken, we have 3 days left for monthly expiry, can we expect any trending movements. if this range is broken, we will observe a strong fall or strong rise is happens. If we consider it as a rally base rally, Rally from 40600 - 43200 Base from 43200-43800 Still bullish Rally --- From 43800 -- 46400 levels. Make it Round to 46000. Case 1: If It is a Rally--Base--Rally, we can expect the next month to be bullish. Case2: If it is sign of reversal, we can say that it's still positive....So No bearish. Case3:: If we expect some retracement , again we can say that bullish. Strong Upward momentum + Consolidation = Retracement((again Bullish Continuation)). So if retracement occurs, until which price we can expect, so if we see the technical chart we don't have any strong bullish movement is observed, every move depends on Resistance (Previous Resistances are pushing the price towards upside) ,acts as support and price moves upwards. previous resistance @42000 pushed the price up, 43000 fall acts as support, and now 43600 fall is giving support to move again. if price failed to acts as support @ 43600,we may expect a fall till 43000, and 42000. Consider this as a retracement and be bullish from these levels. The last Hope. This is another Scenario will explain Later Clearly:: From 46500 levels, if price started falling again we may see a strong sell of until 35000 and below is possible. From bottom again price creates strong Demand Zones and moving again upwards. so its clearly showing that we have only one last movement to bottom side that to 35000-34000 levels. we have gaps below @ 35600 and @34400. So clearly from 34000-35000 is the last move we can expect to the downside. while breaking the previous resistance @41800 created on oct 2021, price fall back 4400 points. After breaking the resistance price moved 2300 points from 41800 - 44200 levels. now we are at the resistance 44200, if price fall from this levels, we will expect the previous resistance @41800 level will push the price towards upside 2300 points from resistance, 44200+ 2300 = 46500 range. If price failed to break the high 44200 level and breaks below 41800 then only think of sell side. Elliott wave:: wave 1: 32300 to 41800 wave 2: 41800 to 37400 wave 3: 37400 to 44200 wave 4: 44200 to 38600 wave 5 : 38600 to 44200 + 2300 = 46500 levels. If we consider the Elliott wave theory wave 5 is more than wave 3, If this post is Helpful please Support me with like. Thanks
NSE:BANKNIFTY
by IIT-Trader
1
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