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BANKNIFTY trade ideas

BankNifty Intraday Support & Resistance Levels for 09.12.2024On Friday, BankNifty exhibited volatility, touching a low of 53160.65 before rallying to a high of 53868.50. It eventually closed at 53509.50, down by 94 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) stays positive. Demand/Support Zones Near Demand/Support Zone (15m): 52850.35 - 53038.60 Near Demand/Support Zone (75m): 52563.20 - 52780.90 Far Demand/Support Zone (125m): 51693.95 - 51906.90 Far Demand/Support Zone (Daily): 49787.10 - 50983.50 Supply/Resistance Zones Near Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (Tested)
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Trade Setup | 9th DecFriday due to RBI policy BankNifty was highly volatile in the first hour, we took 53500 PE around 690 which made a high above 940 and gave good profit. For tomorrow, buy BankNifty if sustains above 53630 for the targets of 53800 and 53950. On the other side sell BankNifty if sustains below 53370 for the targets of 53200 and lower marked level on the chart. Expectations: Volatile day. Intraday Levels: Buy Above - 53630 Sell Below - 53370 To motivate us, Please like the idea If you agree with the analysis. Happy Trading! InvestPro India Team
NSE:BANKNIFTY
by InvestPro_India
1
BANKNIFTY : Trading Plan and Levels for 09-Dec-2024 Bank Nifty Trading Plan for 09-Dec-2024 Previous Day's Chart Pattern: On 08-Dec-2024, Bank Nifty exhibited a consolidation pattern and forming a No Trade Zone , with price movement oscillating between 53,487 and 53,699. Buyers displayed confidence at the golden retracement zone but faced resistance near 54,258. The yellow zone marked a sideways trend, while green indicated bullish attempts that were capped by red bearish resistance levels. This sets the stage for multiple potential scenarios tomorrow. Trading Plan for 09-Dec-2024: Gap-Up Opening (+200 points or more above 53,699): If Bank Nifty opens above 53,699 and sustains, the index is likely to test the first resistance at 54,258 . Watch for price action at this level: If it breaks above 54,258, the next target will be 54,479 (potential new all-time high resistance). Consider initiating long positions near 54,258 with a stop loss just below 54,185. However, if rejection occurs at 54,258, expect a pullback toward 53,699 . In this case, avoid aggressive longs and wait for confirmation before re-entering trades. Risk Management Tip: For options buyers, focus on ATM or slightly OTM contracts with small quantities. If price approaches resistance zones, consider booking partial profits. Flat Opening (Within the No Trade Zone 53,487–53,699): In the case of a flat open, patience is key: If price sustains above 53,699 , this will indicate bullish intent, targeting 54,258 . Go long after a clear breakout with stop loss near 53,487. Conversely, if the index drops below 53,487, it may retest the key support zone at 53,017 . Initiate short trades cautiously with tight stop loss above 53,487. Risk Management Tip: Avoid over-leveraging in a choppy zone. Wait for the first 30 minutes to gauge market sentiment. Gap-Down Opening (-200 points or more below 53,487): If Bank Nifty gaps down below 53,487: Initial support lies at 53,017 . If this zone holds, we may see a reversal toward the No Trade Zone. Watch for bullish candlestick patterns to confirm a rebound. If 53,017 breaks, the next key level is 52,715 (deep retracement and must-try support for buyers). Consider shorts below 53,017 with a target near 52,715, keeping a stop loss at 53,200. Risk Management Tip: For bearish scenarios, buy puts cautiously. Avoid illiquid contracts and use spreads to limit risk. Summary and Conclusion: The market remains at a pivotal zone, with clear levels to monitor for breakouts or breakdowns. Yellow zones highlight areas of consolidation, green zones indicate bullish trends, and red zones point to bearish resistance. Adhere strictly to the No Trade Zone boundaries to avoid unnecessary risks. Disclaimer: This analysis is for educational purposes only. I am not a SEBI-registered analyst. Traders are advised to do their own research or consult a financial advisor before trading.
NSE:BANKNIFTYLong
by LiveTradingBox
BANK NIFTY S/R for 9/12/24Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:BANKNIFTY
by zenthosh
Bank Nifty | Pre Market Weekly View | 09 Dec - 13 Dec 2024Bank Nifty closed the previous week with a strong Bullish candle which has closed comfortably above the 50% zone of the previous fall. For the next week, I have a strong feeling that BN could be range bound to mildly Bullish. The overall trend is certainly Bullish. However, since there has been a strong rally last week, there could be some profit booking. Again, a buy on dip strategy can be applied here. Upside resistance zone is 54,200. So, if there's a big gap up, look for short side reversal. If there's a gap down, look for price action and buy.
NSE:BANKNIFTYLong
by Sky_Tracer
Banknifty December 1st Week Analysis The BankNifty index is currently exhibiting positive trends on the charts. A crucial level for the upside trajectory is 52400. If BankNifty successfully crosses and maintains its position above 52400 then expect an upward movement towards 53100 or higher. Conversely, if it fails to sustain above 52400, then expect range-bound movement.And if BankNifty breach 51500 on the downside, then downward movement towards 51000-50700 is possible.
NSE:BANKNIFTY
by IshanMathur05
BankNifty Rockets: 1800+ Points Secured with Precision!BANKNIFTY on the 15-minute timeframe demonstrated a powerful bullish trend, delivering a substantial profit of 1800+ points. This long trade setup was flawlessly executed using the Risological Swing Trading Indicator , which accurately identified the entry point, targets, and stop-loss levels. BankNifty Key Levels: TP1: 52198.70 ✅ TP2: 52510.65 ✅ TP3: 52822.60 ✅ TP4: 53015.35 ✅ BankNiftyTechnical Analysis: The trade was initiated at an entry level of 52005.90, with a well-placed stop-loss at 51849.95 to manage risk effectively. The price action confirmed a strong upward momentum, crossing over the Risological trend line, which signaled a clear long entry. All targets were achieved in quick succession, reflecting the precision and reliability of the Risological system. This trade stands out as a prime example of capturing massive intraday moves with high accuracy. NAMASTE!
NSE:BANKNIFTYLong
by ProfitsNinja
BANKNIFTY : Trading Plan for 06-Dec-2024Trading Plan for Bank Nifty – 06-Dec-2024 Intro to the Previous Day's Chart Pattern: On 05-Dec-2024, Bank Nifty displayed a remarkable journey, testing critical levels and forming significant zones. Profit Booking Zone (₹54,472–₹54,787): Wave C extended zone acted as a stiff resistance. No-Trade Zone (₹53,396–₹53,702): Represented indecision near Wave C completion, where the trend remained unclear ( Yellow Trend ). Opening Support Zone (₹53,067): Held well to initiate bullish recoveries ( Green Trend ). Deep Retracement Zone (₹52,400–₹52,600): Marked by Fibonacci levels (113%-127%), offering a strong demand area ( Green Trend ). The day concluded with a consolidation between critical zones, setting the stage for decisive moves on 06-Dec-2024. Trading Plan for 06-Dec-2024 Gap Up Opening (+200 Points): If Bank Nifty opens near or above ₹54,000 , expect resistance at the Profit Booking Zone (₹54,472–₹54,787) . Action Plan: Watch for rejection or bearish patterns near ₹54,472 . Short positions can be initiated with targets of ₹54,000 and ₹53,702 . Sustained breakout above ₹54,787 with strong volumes signals continuation of the bullish rally. Long trades can target ₹55,200 and ₹55,450 . Risk Management Tip: Use tight stop-loss for short trades above ₹54,787 . In options, consider selling OTM calls above ₹55,000 for time decay advantages. Flat Opening (Near ₹53,600): A flat opening near the No-Trade Zone (₹53,396–₹53,702) demands caution. Action Plan: If Bank Nifty sustains above ₹53,702 , initiate long positions targeting ₹54,472 . Below ₹53,396 , expect a dip toward the Opening Support Zone (₹53,067) . Look for buying opportunities with bullish signals at this level. Risk Management Tip: Avoid aggressive trades in the No-Trade Zone. Wait for a clear breakout or breakdown before entering trades. For options, use spreads like bull call spreads to minimize risks. Gap Down Opening (-200 Points): A gap-down opening near ₹53,067 or below will test critical supports. Action Plan: If Bank Nifty stabilizes above ₹53,067 , expect a recovery toward ₹53,396 . Long trades can be initiated with proper risk-reward setups. Failure to hold ₹53,067 opens the door to the Deep Retracement Zone (₹52,400–₹52,600) , where buying opportunities may arise for targets of ₹53,067 and ₹53,396 . Risk Management Tip: For high volatility scenarios, trade lighter positions. Use option strategies like straddles or strangles to capitalize on premium spikes. Summary and Conclusion: Resistance Levels: ₹54,472, ₹54,787 Support Levels: ₹53,702, ₹53,067, ₹52,400 Key Levels to Watch: Rejection at ₹54,472 or breakdown below ₹53,067 will determine intraday momentum. Follow the trends: Yellow (Sideways), Green (Bullish), Red (Bearish) . Tips for Options Trading: Use proper hedging strategies like spreads to limit losses. Avoid over-leveraging in volatile conditions. Disclaimer: The above analysis is for educational purposes only . I am not a SEBI-registered analyst. Please perform your research or consult a financial advisor before trading. Market risks are significant; trade responsibly.
NSE:BANKNIFTY
by LiveTradingBox
BANK NIFTY S/R for 6/12/24Support and Resistance Levels: Support Levels: These are price points (green line/shade) where a downward trend may be halted due to a concentration of buying interest. Imagine them as a safety net where buyers step in, preventing further decline. Resistance Levels: Conversely, resistance levels (red line/shade) are where upward trends might stall due to increased selling interest. They act like a ceiling where sellers come in to push prices down. Breakouts: Bullish Breakout: When the price moves above resistance, it often indicates strong buying interest and the potential for a continued uptrend. Traders may view this as a signal to buy or hold. Bearish Breakout: When the price falls below support, it can signal strong selling interest and the potential for a continued downtrend. Traders might see this as a cue to sell or avoid buying. MA Ribbon (EMA 20, EMA 50, EMA 100, EMA 200) : Above EMA: If the stock price is above the EMA, it suggests a potential uptrend or bullish momentum. Below EMA: If the stock price is below the EMA, it indicates a potential downtrend or bearish momentum. Trendline: A trendline is a straight line drawn on a chart to represent the general direction of a data point set. Uptrend Line: Drawn by connecting the lows in an upward trend. Indicates that the price is moving higher over time. Acts as a support level, where prices tend to bounce upward. Downtrend Line: Drawn by connecting the highs in a downward trend. Indicates that the price is moving lower over time. It acts as a resistance level, where prices tend to drop. Disclaimer: I am not a SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. Consider the broader market context and consult with a qualified financial advisor before making investment decisions.
NSE:BANKNIFTY
by zenthosh