Get started

Niftybank

Bank Nifty Trading Strategy for 16th Sep'2020#banknfity OI up by 4.97% and price down up +0.44%, which indicates a neutral setup. BN closed exactly on our decision point of 22,465. People will be interested to know, what happened from 2:30 PM to 3:30 PM, huge spike on the upside, again this was short covering in the expected line. The uptrend channel which started on 16th June (19,507), the price is pulled back just inside the channel. And we respected yesterday's low, which is a good sign and going further 22,000 -22,050 will be a strong support zone. I won't be trading shorts until I get a breakdown below 22,000 - 22,050. Trading Strategy:- I will go into trading with a neutral mindset and will take a position based on the current setup of the market. I will be bearish if 22,050 breaks for a target of 21,850 / 21,600 /21,300. I will be bullish above 22,465 for a target of 22,550 / 22,750 / 22,850 / 23,150. Trend deciding levels are 22,465, below is bearish, and above is bullish. Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
NSE:BANKNIFTY
by subhagghosh
4
Bank Nifty Trading Strategy for 15th Sep'2020#banknfity OI up by 24.03% and price down by -1.68%, which indicates shorts were build up today in the index. Contra to popular move in the last few days, the last 30 min didn't show short covering but long unwinding, which is bad for the market. The uptrend channel which started on 16th June (19,507), first-time for the last 3 months, we have given a closed below this channel, which is a very bearish signal. Further weakness will crip in below, 21,850, and can result in panic selling for a target of 21,300. Trading Strategy:- I will go into trading with a neutral mindset and will take a position based on the current setup of the market. I will be bearish if 22,050 breaks for a target of 21,850 / 21,600 /21,300. I will be bullish above 22,400 for a target of 22,550 / 22,750 / 22,850 / 23,150. Trend deciding levels are 22,465, below is bearish, and above is bullish. Always trade what you see, never trade what you feel. Make this a habit, you won't be requiring any seminar, webinar, or mentor, you will be self-sufficient.
NSE:BANKNIFTYShort
by subhagghosh
Bank Nifty Trading Strategy for 14th Sep'2020#banknifty Weekly view:- #banknifty is in the rising channel and we are constantly taking support from lover end of channel 22,050 - 22,200. Spending time at the lower end of the channel for the last 3 days is not a very sign for bulls. If the previous swing low of 21,886 is broken, then the last swing low of 21,403 will be challenged followed by 21,000 levels. If somehow 21,000 levels get broken, you won't get much time to pull out, and downsize target is 18.540. The all the analyses will be null and void if BN crosses, 23,560. Trade what you see, not what is felt, trading is all about making money and nothing else. happy weekend, enjoy your time with family & friends, and stay safe.
NSE:BANKNIFTY
by subhagghosh
16
Bank Nifty Trading Strategy for 11th Sep'2020#banknifty OI up by 5.68 % and price up by +0.89 % shows a neutral position. Again, the last 60 min move is a pure short covering, so we should not read much into the price action as a reversal. #banknifty is seating in strong support zone 22,011 - 22,213 and we managed to hold it. #banknifty is the uptrend channel, trade the channel, lower end of the channel is around 22150 and we managed to closed just above the channel. The next hurdle on the upside is 22,865, which if crossed can see rally till 25k once again. Decision Zone 22,554 - 22,641 We won't short now, as our downside target is done, fresh shorting will be below 21,886. If 21,886 is breached, we will see 21,350 - 21,400 and followed by 21,050. What we said yesterday:-"Trading Strategy:- Buy in dips till 21,886 holds for a target of 22,440 / 22,640 / 22,865", the first 2 targets were achieved. Stratergy for tomorrow:- Won't use dip to buy now, will use bounce to sell with SL of 22,865, for a target of 22,220 / 22,050 / 21,886 / 21,400. Trade what you see not what you feel, trading is all about making money nothing else.
NSE:BANKNIFTYShort
by subhagghosh
9
Expiry Special Analysis for 10th Sep'2020.#banknifty OI up by 8.93% and price down by -2.10 % show short buildups. The last 30 min move is a pure short covering, so we should not read much into the price action as a reversal. #banknifty is seating in strong support zone 22,011 - 22,213 and we managed to hold it. #banknifty is the uptrend channel, trade the channel, lower end of the channel is around 22150 and we managed to closed just above the channel. The next hurdle on the upside is 22,865, which if crossed can see rally till 25k once again. Decision Zone 22,554 - 22,641 We won't short now, as our downside target is done, fresh shorting will be below 21,886. If 21,886 is breached, we will see 21,350 - 21,400 and followed by 21,050. Trading Stratergy:- Buy in dips till 21,886 holds for a target of 22,440 / 22,640 / 22,865. Trade what you see not what you feel, trading is all about making money nothing else.
NSE:BANKNIFTYLong
by subhagghosh
7
Bank Nifty Trading Strategy for 9th Sep'2020#banknifty OI up by 16.23% and price down by -0.87% show long unwinding & short buildups. The last 45 min sink was due to long unwinding, which a matter of concern, as long are getting liquidated around 22850 -22650 zone. Going forward, this zone will act as resistance. #banknifty is the uptrend channel, trade the channel, lower end of the channel is around 22220. Expected support area:- 22,440 +-50 Decision Zone 22,911 - 23,065 Trade what you see not what you feel, trading is all about making money nothing else.
NSE:BANKNIFTYShort
by subhagghosh
Bank Nifty Trading Strategy for 8th Sep'2020#banknifty OI up by 5.29% and price down by -0.2% show neutral setup. The last 30 min rally was due to short covering, where 6,968 #banknifty future positions were closed. So we should not read too much into the last 30 min rally to be trend or game-changer, the trend is still weak. #banknifty is the uptrend channel, trade the channel. Decision Zone 23,211 - 23,112 Trade what you see not what you feel, trading is all about making money nothing else.
NSE:BANKNIFTY
by subhagghosh
7
Bank Nifty Trading Strategy for 4th Sep'2020#banknifty OI up by 16.33% and price down by 1.44 % shows Short Built-Up position in FNO. There is huge congestion that has occurred in the last 3 days in the range of 23,385 to 24,199 range, any move outside this range will decide the direction. If there is an upside breakout the target on the upside is 24,575 or the downside breakdown is 22,745. All SL for long is revised to 23,385. #banknifty has given breakout above 23,220 after 2 months of consolidation (21,027 - 23,211 i.e 2,184 points range). Upside target's opened are 23,517 (completed)/ 24,364-24,524-24-556(completed) / 25,395-25,670-25,923 / 26,311 as long as 23,385 holds. GAP 25,923 - 25,670, 253 point gap in March, as a normal rule market always returns to fill up the gap. This gap will also act as resistance. Fibonachi Analysis :- 32,613 - 16,116 23.6% 20,009 Done 38.2% 22,418 Done 50.0% 24,364 Done 61.8% 26,311 Pending Strong Resistance:- 24,364 - 24,556 Strong Resistance:- 25,670 - 25,923 Strong Support:- 23,200 Elliot Wave:- Wave 3 can be 161.8% to 261.8% or 461.8% Wave 1 :- 21,403 - 22,410 Wave 2 :- 22,410 - 21,886 Wave 3 :- 21,886 - 25,232 (332% of wave 1) - Completed Wave 4 :- 25,232 - 23,385 (44.7% of Wave 3) - Completed Wave 5 :- 23,385 - 24,526 / 25,232 / 25,827 - Pending *Wave 5 is typically 61.8%, 100%, or 123.6% of wave 4 Decision Zone 23,773- 23,840 Note:- Trade the levels, levels are staircase, you take small steps to go ahead. Trade what you see, not what you feel, trading is all about making money and nothing else.
NSE:BANKNIFTY
by subhagghosh
10
Expiry Special Analysis for 3rd Sep'2020.#banknifty OI up by 7.85% and price up by 0.26 % shows the almost neutral position in FNO. BN future is trading at 41.35 Rs premuim & cost to carry is 2.87, indication long buildup with low volume. In today's session, the index formed another inside candle, though the range gets smaller than yesterday's session. If there is upside breakout the target on upside is 24,728 or downside breakdown is 22,668. Two days of consolidation on downsize is a cause of worry, we might be seating for next round of fall until we starts trading above 24,300 (Three targets are 24,526 / 25,232 / 25,827 are valid only if we start trading above 24300). All SL for long is revised to 23,385. #banknifty has given breakout above 23,220 after 2 months of consolidation (21,027 - 23,211 i.e 2,184 points range). Upside target's opened are 23,517 (completed)/ 24,364-24,524-24-556(completed) / 25,395-25,670-25,923 / 26,311 as long as 23,385 holds. GAP 25,923 - 25,670, 253 point gap in March, as a normal rule market always returns to fill up the gap. This gap will also act as resistance. Fibonachi Analysis :- 32,613 - 16,116 23.6% 20,009 Done 38.2% 22,418 Done 50.0% 24,364 Done 61.8% 26,311 Pending Strong Resistance:- 24,364 - 24,556 Strong Resistance:- 25,670 - 25,923 Strong Support:- 23,200 Elliot Wave:- Wave 3 can be 161.8% to 261.8% or 461.8% Wave 1 :- 21,403 - 22,410 Wave 2 :- 22,410 - 21,886 Wave 3 :- 21,886 - 25,232 (332% of wave 1) - Completed Wave 4 :- 25,232 - 23,385 (44.7% of Wave 3) - 1847 point (we assume it's completed, if not can till 23,165.) 50% 23,559 Done 61.8% 23,164 (Might or might not be) Wave 5 :- 23,385 - 24,526 / 25,232 / 25,827 *Wave 5 is typically 61.8%, 100%, or 123.6% of wave 4 Decision Zone Note:- Trade the levels, levels are staircase, you take small steps to go ahead. Trade what you see, not what you feel, trading is all about making money and nothing else.
NSE:BANKNIFTY
by subhagghosh
Bank Nifty Trading Strategy for 2nd Sep'2020#banknifty OI up by 8.35% and price up by 0.24 % shows the almost neutral position in FNO. What I mentioned on Yesterday:- "My view is LONG on the index, contrary to the majority of analysts" We still have the upside target of 25,827, so still have 500 to 1000+ points on the upside. Three targets are 24,526 / 25,232 / 25,827 All SL for long is revised to 23,385. #banknifty has given breakout above 23,220 after 2 months of consolidation (21,027 - 23,211 i.e 2,184 points range). Upside target's opened are 23,517 (completed)/ 24,364-24,524-24-556(completed) / 25,395-25,670-25,923 / 26,311 as long as 23,385 holds. GAP 25,923 - 25,670, 253 point gap in March, as a normal rule market always returns to fill up the gap. This gap will also act as resistance. Fibonachi Analysis :- 32,613 - 16,116 23.6% 20,009 Done 38.2% 22,418 Done 50.0% 24,364 Done 61.8% 26,311 Pending Strong Resistance:- 24,364 - 24,556 Strong Resistance:- 25,670 - 25,923 Strong Support:- 23,200 Elliot Wave:- Wave 3 can be 161.8% to 261.8% or 461.8% Wave 1 :- 21,403 - 22,410 Wave 2 :- 22,410 - 21,886 Wave 3 :- 21,886 - 25,232 (332% of wave 1) - Completed Wave 4 :- 25,232 - 23,385 (44.7% of Wave 3) - 1847 point (we assume it's completed, if not can till 23,165.) 50% 23,559 Done 61.8% 23,164 (Might or might not be) Wave 5 :- 23,385 - 24,526 / 25,232 / 25,827 *Wave 5 is typically 61.8%, 100%, or 123.6% of wave 4 Decision Zone 23,946- 24,143 Note:- Trade the levels, levels are staircase, you take small steps to go ahead. Trade what you see, not what you feel, trading is all about making money and nothing else.
NSE:BANKNIFTYLong
by subhagghosh
10
Bank Nifty Trading Strategy for 1th Sep'2020#banknifty OI up by 2.44% and price down by 3.14 % shows the almost neutral position on FNO My view is LONG on index, contratory to majority of analyst. What I mentioned on Saturday:- "You still have 1000 to 1500 more point rally to grab, but we have stretched too far, we need to cool down to 23,500-23,600 range to add fresh long" The index cooled down as expected, made low of 23,385. We still have the upside target of 25,827, so still have 500 to 1000 points on the upside. Three targets are 24,526 / 25,232 / 25,827 All SL for long is revised to 23,090. #banknifty has given breakout above 23,220 after 2 months of consolidation (21,027 - 23,211 i.e 2,184 points range). This gives an upside target of 25,395 and we have a high of 25,232 (again achieved) Upside target's opened are 23,517 (completed)/ 24,364-24,524-24-556(completed) / 25,395-25,670-25,923 / 26,311 as long as 23,517 holds. GAP 25,923 - 25,670, 253 point gap in March, as a normal rule market always returns to fill up the gap. This gap will also act as resistance. Fibonachi Analysis :- 32,613 - 16,116 23.6% 20,009 Done 38.2% 22,418 Done 50.0% 24,364 Done 61.8% 26,311 Pending Strong Resistance:- 24,364 - 24,556 Strong Resistance:- 25,670 - 25,923 Strong Support:- 23,200 Elliot Wave:- Wave 3 can be 161.8% to 261.8% or 461.8% Wave 1 :- 21,403 - 22,410 Wave 2 :- 22,410 - 21,886 Wave 3 :- 21,886 - 25,232 (332% of wave 1) - Completed Wave 4 :- 25,232 - 23,385 (44.7% of Wave 3) - 1847 point (we assume it's completed, if not can till 23,165.) 50% 23,559 Done 61.8% 23,164 (Might or might not be) Wave 5 :- 23,385 - 24,526 / 25,232 / 25,827 *Wave 5 is typically 61.8%, 100%, or 123.6% of wave 4 Decision zone:- 23,517 - 23,684 Note:- Trade the levels, levels are staircase, you take small steps to go ahead. Trade what you see, not what you feel, trading is all about making money and nothing else.
NSE:BANKNIFTYLong
by subhagghosh
10
Bank Nifty Trading Strategy for 31th Aug'2020#banknifty OI up by 16.76% and price up by 3.91 % shows long buildup. You still have 1000 to 1500 more point rally to grab, but we have stretched too far, we need to cool down to 23,500-23,600 range to add fresh long. #banknifty has given breakout above 23,220 after 2 months of consolidation (21,027 - 23,211 i.e 2,184 points range). This gives an upside target of 25,395. Upside target's opened are 23,517 (completed)/ 24,364-24,524-24-556(completed) / 25,395-25,670-25,923 / 26,311 as long as 23,517 holds. GAP 25,923 - 25,670, 253 point gap in March, as a normal rule market always returns to fill up the gap. This gap will also act as resistance. Fibonachi Analysis :- 32,613 - 16,116 23.6% 20,009 Done 38.2% 22,418 Done 50.0% 24,364 Done 61.8% 26,311 Pending Strong Resistance:- 24,364 - 24,556 Strong Resistance:- 25,670 - 25,923 Strong Support:- 23,500 Elliot Wave:- Wave 3 can be 161.8% to 261.8% or 461.8% Wave 1 :- 21,403 - 22,410 Wave 2 :- 22,410 - 21,886 Wave 3 :- 21,886 - 24,611 (270% of wave 1) - In progress 161.8% : 23,517 -Done 261.8% : 24,524 -Done 361.8% : 25,532 - Pending (low probability less than 10%). Wave 4: 38.2 to 61.8 % wave 3 i.e. 23,570 (assumption) Wave 5: Not started Decision zone:- 23,517 - 23,684 The chart is all green everywhere, all greenery. Note:- Trade the levels, levels are staircase, you take small steps to go ahead. Trade what you see, not what you feel, trading is all about making money and nothing else.
NSE:BANKNIFTY
by subhagghosh
1
Bank Nifty Trading Strategy for 28th Aug'2020#banknifty OI down by 11.93% and price up by 0.80 % shows short covering. You still have 2000 more point rally to grab. #banknifty has given breakout above 23,220 after 2 months of consolidation (21,027 - 23,211 i.e 2,184 points range). This gives an upside target of 25,395. Upside target's opened are 23,517 (completed)/ 24,364-24,524-24-556 / 25,395-25,670-25,923 / 26,311 as long as 22,410 holds. GAP 25,923 - 25,670, 253 point gap in the month of March, as a normal rule market always returns to fill up the gap. This gap will also act as resistance. Fibonachi Analysis :- 32,613 - 16,116 23.6% 20,009 Done 38.2% 22,418 Done 50.0% 24,364 Pending 61.8% 26,311 Pending Strong Resistance:- 24,364 - 24,556 Strong Resistance:- 25,670 - 25,923 Strong Support:- 22,410 Elliot Wave:- Wave 3 can be 161.8% to 261.8% or 461.8% Wave 1 :- 21,403 - 22,410 Wave 2 :- 22,410 - 21,886 Wave 3 :- 21,886 - 23,704 (1.80 of wave 1) - In progress 161.8% : 23,517 -Done 261.8% : 24,524 -Pending Wave 4: Not started Wave 5: Not started Decision zone:- 23,554 - 23,684 The chart is all green everywhere, all greenery. Note:- Trade the levels, levels are staircase, you take small steps to go ahead. Trade what you see, not what you feel, trading is all about making money and nothing else.
NSE:BANKNIFTYLong
by subhagghosh
9
Expiry Special Analysis for 27th Aug'2020.#banknifty OI 12% and price up by 1.39 % shows long buildups. Now Every Resistance that we had, has turned into support. Upside target's opened are 23,568 / 24,284 / 24,328 / 24,556 as long as 22,410 holds. Will I short in this market? Yes, below 23,198 I will short. Elliot Wave:- Wave 1 :- 21,403 - 22,410 Wave 2 :- 22,410 - 21,901 Wave 3 :- 21,901 - 23,568 (1.618 of wave 1) - In progress. Wave 4: 23,568 - 23,210 - Not started Wave 5 : 23,210 - 24,328 - Not srarted Now the question is where the setup will fail? If #banknifty breaks 22,410 the setup fails. Decision zone:- 23,322 - 23,198
NSE:BANKNIFTY
by subhagghosh
5
Bank Nifty Trading Strategy for 24th Aug'2020#banknifty setup is neutral, the broader range is 23,200 to 21,000 for the last 2 months. The last 3 days' market was in a tight range and almost no movement. Wednesday 185 point range. Thursday 193 point range. Friday 179 point range. i.e. 0.84% intraday movement. With so little volatility, it's impossible to trade and make money. As per the harmonic pattern, we see if price crosses 22,450 we might see 22,750. Again 22,750 to 23,000 range is for creation of positional short, with SL of 23,220. Decision Zone , until the market breaks 22,080 avoid shorting.
NSE:BANKNIFTY
by subhagghosh
5