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BANKNIFTY trade ideas

BANKNIFTY : Trading Levels and Plan for 17-Dec-2024🔹 Previous Day's Plan vs Actual (16-Dec-2024): In yesterday's trading plan, we identified the No Trade Zone / Liquidity Zone near 53,395-53,705, expecting consolidation in this range. We also highlighted the Opening Support/Resistance Zone at 53,277-53,233 as a critical area to observe. As seen in today's chart, Bank Nifty respected the No Trade Zone before showing rejection at higher levels. The price tested the Opening Support Zone and bounced back but failed to sustain above key resistance. This reflects sideways movement (Yellow Trend) and minor bearish pressure in the later part of the session. Today's plan will analyze three key opening scenarios for 17-Dec-2024 and guide traders with actionable steps. We will also focus on risk management strategies for options traders. 🔹 Bank Nifty Trading Plan for 17-Dec-2024: Scenario 1: Gap Up Opening (200+ points) If Bank Nifty opens above the No Trade Zone (53,705) and sustains, we could see bullish momentum. The next key resistance is the Profit Booking Zone at 54,233-54,472, which coincides with a potential new high. 🔹 Plan of Action: Observe price action for the first 15-30 minutes. If prices sustain above 53,705 on an hourly candle close , initiate long positions with a target of 54,233 and an extended target of 54,472. Place a stop loss below 53,705 to protect against reversal. 🔹 Bullish Confirmation: Sustaining above 53,705. Aggressive moves can be expected if volumes increase near this level. 🔹 Key Target Levels: First Target: 54,233. Extended Target: 54,472. 🔹 Risk Management Tip: Avoid chasing a gap-up rally; wait for a pullback near support zones before entering trades. Options traders can buy slightly ITM CE to mitigate time decay. Scenario 2: Flat Opening (Near 53,490) If Bank Nifty opens flat, focus on the No Trade Zone between 53,395-53,705. This zone is likely to show sideways movement (Yellow Trend) unless a breakout or breakdown occurs. 🔹 Plan of Action: Avoid initiating trades inside the No Trade Zone as price could face rejection. A breakout above 53,705 will trigger bullish momentum (Green Trend). A breakdown below 53,395 will open doors for bearish movement (Red Trend). 🔹 Trade Setups: Long Position: Above 53,705, targeting 54,233. Short Position: Below 53,395, targeting 53,277 and 53,002. 🔹 Risk Management Tip: Use tight stop losses near breakout/breakdown points. For options traders, wait for hourly candle confirmations to avoid false signals. Scenario 3: Gap Down Opening (200+ points) If Bank Nifty opens below 53,277 (Opening Support/Resistance Zone), bearish pressure may intensify. The Last Support for Intraday at 53,002 will be the crucial level to watch. If this support fails, expect a sharp fall toward 52,577. 🔹 Plan of Action: If prices open near 53,277, observe price behavior for the first 15-30 minutes. If the level fails to hold, initiate short positions with a target of 53,002 and an extended target of 52,577. If Bank Nifty shows a bounce from 53,277, look for reversal opportunities toward 53,490. 🔹 Bearish Confirmation: Sustaining below 53,277 with strong bearish candles. Volumes increasing near the support breakdown will signal further downside. 🔹 Key Target Levels: First Target: 53,002. Extended Target: 52,577. 🔹 Risk Management Tip: For options traders, buy slightly OTM PE with defined stop loss above resistance. Avoid holding short positions overnight in case of volatility. 🔹 Risk Management Tips for Options Traders: Avoid taking positions during the first 15 minutes to avoid false breakouts. Use slightly ITM options to reduce time decay impact. Focus on hourly candle closes for confirmation of breakouts or breakdowns. Always have a stop loss in place to protect against sudden reversals. Trade with smaller position sizes when market volatility is high. 🔹 Summary & Conclusion: A Gap Up Opening above 53,705 can lead to bullish continuation toward 54,233-54,472. A Flat Opening inside the No Trade Zone requires caution. Look for a breakout above 53,705 or breakdown below 53,395 for direction. A Gap Down Opening below 53,277 can trigger bearish moves toward 53,002 and 52,577. Yellow Trend represents sideways consolidation, Green Trend signals bullish moves, and Red Trend indicates bearish momentum. 🔹 Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Traders are advised to conduct their own analysis or consult with a financial advisor before making trading decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BankNifty Intraday Trade Setup | 17th DecToday, BankNifty closed with a minor gap-down and traded in a range from 53700 on upside to 53335 on downside. As per setup posted yesterday, sell trade triggered below 53480 but it missed our 1st target by 10 points. Overall it was a range bound day for BankNifty. Tomorrow, buy BankNifty if sustains above 53700 for the targets of 53900 and above marked level. On the other side, if BankNifty sustains below 53300 on the downside, sell BankNifty for the targets of 53120 and below marked level on the chart. Expectations: Range-bound day. Intraday Levels: Buy Above - 53700 Sell Below - 53300 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 Intraday Trade Setup | 16th DecOn Friday, BankNifty gave big moves. In morning we saw breakdown and BankNifty made a low around 52260 but we saw strong reversal from lower levels and BankNifty made a high at 53654 which is approx 1400 points rally from day low. Tomorrow, buy BankNifty if sustains above 53700 for the targets of 53850 and above marked level. On the other side, if BankNifty sustains below 53480 on the downside, sell BankNifty for the targets of 53320 and below marked level on the chart. Expectations: Volatile day. Intraday Levels: Buy Above - 53700 Sell Below - 53480 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 Intraday Support & Resistance Levels for 16.12.2024On Friday, BankNifty opened on a negative note, slipping to a low of 52264.55. However, it staged a robust recovery, reaching a high of 53654, and closed strong at 53583.80, gaining 367 points over the previous close. Both the Weekly Trend (50 SMA) and the Daily Trend (50 SMA) remain positive, reflecting sustained bullish momentum. Demand/Support Zones Near Demand/Support Zone (75m): 52264.55 - 52665.15 Far Demand/Support Zone (Daily): 51693.95 - 52197.25 Far Demand/Support Zone (125m): 51693.95 - 51906.90 Supply/Resistance Zones Near Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (tested)
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY KEY LEVELS FOR 16/12/2024**Explanation:** This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, price range and indiavix. **Entry/Exit Points:** - **Entry/Exit Lines:** Use the BLACK line for long trades and the RED line for short trades, based on confirmation from your trading plan. - **Stop Loss:** For long trades, set the stop loss at the RED line below. For short trades, set it at the BLACK line above. - **Take Profit:** For long trades, target the next RED line above. For short trades, target the next BLACK line below. **Timeframe:** Use a 5 timeframe for trading. **Risk Disclaimer:** This setup is for educational purposes. I'm not responsible for your gains or losses. Check the chart for more details.
NSE:BANKNIFTY
by nandupk
Bank Nifty | Weekly Pre-Market Report | 16 Dec ~ 20 Dec '24Bank Nifty previous weeks candle has closed positively with the formation of a Bullish Pin bar. The last trading session Daily candle closed again in a very Bullish manner signalling that Bulls have taken control in the immediate term. Similar to Nifty, I am expecting Bank Nifty to head towards 54,250 this week. In case of flat opening or gap down opening, BN will continue to be in Buyers territory as long as 52,620 holds. In case of a big gap up, I would advise taking fresh long position as 54,250 - 54,500 can be a strong resistance zone as BN approaches the All Time High zone. Those carrying overnight positions can book profits and exit around those levels and avoid being overly greedy!
NSE:BANKNIFTYLong
by Sky_Tracer
BankNIfty // Trading Psychological Analysis of BankNiftywww.tradingview.com We have seen a dramatic dance of BankNIfty in past few day. Here is the postmortem of the Daily price movement in past 2 weeks on Daily time frame. Based on the chart of **Nifty Bank Index** on the **daily time frame**, here is a breakdown of the trader psychology and price action visible: --- ### ** 1. Recent Price Action Context ** - **Uptrend before consolidation**: - The chart shows an initial bullish momentum marked by **strong green candles** that signify buyers are in control, pushing prices upward. - **Consolidation period**: - After the strong upward move, you observe a few small-bodied candles (doji and neutral-type) at the top. These candles indicate **indecision** in the market or a **pause** in momentum as buyers and sellers wrestle for control. - **Large wick and recovery**: - A significant candle shows a **large lower wick** where price fell drastically but closed near its opening price. This reflects: - **Strong buying interest** after a sharp dip. - Sellers initially pushed the price lower, but buyers stepped in, absorbing the selling pressure and driving the price back up. - This could signify the presence of **demand** at lower levels. --- ### ** 2. Trader Psychology ** - **Strong buyers early on**: - The rally at the start of the chart reflects **bullish sentiment**, as traders jumped in with confidence, likely due to positive news or market sentiment. - **Indecision phase**: - The small-bodied candles (e.g., doji) represent a point of hesitation: - Bulls may be taking profits after the strong rally. - Bears attempt to sell but struggle to push prices lower. - **Large wick psychology**: - A large lower wick indicates that: - Sellers tried to break support but failed to sustain the move. - This failure emboldens buyers to step in, creating a sharp **reversal or rejection of lower levels**. - Many traders see this as a **bullish signal**, as it suggests buyers are still active and defending the price zone. --- ### ** 3. Key Observations from Price Action ** - **Support Zone**: - The large wick indicates the area around the wick's low is a **potential support zone**. Buyers defended that level aggressively, and traders will watch it closely for future moves. - **Bullish recovery**: - The strong close of the most recent candle suggests bullish sentiment may be returning. It shows that buyers absorbed the selling pressure and pushed prices back up. - **Volume**: - The high volume (139.91M) supports the validity of the price action. High volume on a bullish recovery suggests significant participation from buyers. --- ### ** 4. What to Watch for Next ** 1. **Breakout vs. Reversal**: - If prices break above the recent consolidation range, expect a continuation of the uptrend. - Conversely, failure to break higher could lead to further consolidation or a potential reversal. 2. **Support Retest**: - Monitor if prices revisit the large-wick low (support). Holding this level could confirm strong demand, while a breakdown might shift the sentiment to bearish. 3. **Volume Confirmation**: - Continued bullish price action with strong volume would confirm buyer strength. --- ### ** Conclusion ** The chart reflects **buyer dominance** after a brief period of indecision and a strong rejection of lower prices. Traders appear to see value at lower levels, and sentiment leans bullish unless prices break below the recent support. Watch for a breakout or retest of the key levels for confirmation of the next directional move. Always feel free to like and comment here. We would love to hear you and respond. Best Wishes, Team StoxWare
NSE:BANKNIFTYLong
by Stox_Ware
BANKNIFTY : Trading plan and levels for 16-Dec-2024Intro: Review of Previous Day’s Plan Yesterday’s chart depicted key levels for supply, resistance, and demand zones. The anticipated plan highlighted a sideways consolidation around the "Last Resistance for ATM" zone, followed by a bullish breakout near 53,700. As per the actual market movement, Bank Nifty tested the resistance at 53,700 but failed to sustain momentum, leading to a pullback towards the Opening Support Zone. This reaffirms the importance of respecting identified zones and acting on confirmation signals. Color Coding in the Chart: Yellow: Sideways trend Green: Bullish trend Red: Bearish trend Trading Plan for 16th December 2024 If Gap Up Opening (200+ points above previous close) A gap-up scenario would place Bank Nifty near the upper resistance zone (54,092 to 54,322). In such cases: Action Plan: Wait for the first 15-30 minutes to observe price stability. If an hourly candle closes above 54,322, initiate a long position with a target of 54,787 (supply zone). If prices show rejection from 54,322, expect a retracement towards the Opening Support Zone (53,700 to 53,540). Avoid chasing the gap-up blindly; confirm the breakout or reversal with volume and price action. If Flat Opening A flat opening would likely position Bank Nifty around the Opening Support/Resistance Zone (53,700 to 53,540). Action Plan: Monitor price action within this zone. A strong breakout above 53,700 can lead to bullish momentum, targeting 54,092 first and then 54,322. On the flip side, if Bank Nifty breaks below 53,540, a bearish trend may develop, pulling prices toward the Opening Support at 53,398 and potentially the Last Support for Intraday at 53,074. Be cautious and use tight stop losses, especially if volatility is high. If Gap Down Opening (200+ points below previous close) A gap-down opening may test the Last Support for Intraday (53,074). Action Plan: If Bank Nifty holds above 53,074, consider entering a long position with a target of 53,540 and 53,700. Look for bullish reversal candles at this level. If prices break below 53,074, a bearish trend could extend toward 52,700 and further to the Mitigated Demand Zone (52,484 to 52,311). Avoid entering counter-trend trades unless clear reversal signs are observed. Risk-averse traders should wait for price action confirmation to avoid false breakouts. Tips for Risk Management in Options Trading: Use defined stop losses to protect your capital, particularly on hourly candle closures beyond invalidation zones. Avoid over-leveraging and position your trades based on your risk tolerance. As a guideline, limit exposure to 2-3% of your total capital per trade. Focus on ATM or slightly ITM strike prices with adequate liquidity for intraday trades. Avoid OTM options during volatile conditions. Implement a time-based exit if the trade does not hit the target within a predefined period. Summary and Conclusion: Bank Nifty’s price movement today will likely hinge on the interaction with key zones like 53,700 (Opening Resistance) and 53,074 (Last Intraday Support). Use the first 30 minutes post-opening to observe stability, and act based on breakouts or reversals. Follow a disciplined approach and avoid emotional trading. Disclaimer: I am not a SEBI-registered analyst. The above plan is for educational purposes only. Please consult with your financial advisor before making any trading decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BANKNIFTY S/R for 16/12/24Support 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
BANKNIFTY 55000 NEXT WEEK?This chart represents the #BankNifty Index on a 30-minute timeframe. The image illustrates a breakout scenario from a consolidation phase (highlighted in yellow) following a descending trendline. The breakout is confirmed by a sharp upward price movement backed by increasing volume, indicating strong bullish momentum. The green zone marks the potential upside levels between 53,890 and 54,870, calculated using Fibonacci extensions. The bullish target points to the 161.8% level around 54,870. The red zone highlights the invalidation level for the bullish view, set at 53,100 on a closing basis. A close below this level would signal a potential reversal or further downside pressure. The chart also incorporates key Fibonacci retracement levels, where the 100% level at 53,888 acts as immediate resistance. The current price of 53,630.55 trades above critical retracement zones, providing further confidence in a bullish continuation. Traders should monitor price action near resistance and support zones and confirm with volume spikes for entry or exit signals. A sustained move above the resistance may fuel further gains toward the targets, while a breakdown below the invalidation level could invite bearish sentiment.
NSE:BANKNIFTYLong
by TheSnop
BANKNIFTY : Trading levels and plan for 13-Dec-2024Introduction In the previous day's plan, we analyzed the Nifty Bank Index on a 15-minute timeframe and identified key support and resistance levels. The chart highlighted a sideways trend in the yellow zone, a bullish trend in the green zone, and a bearish trend in the red zone. The actual price movement today followed the anticipated path, consolidating within the highlighted zones and providing opportunities for both long and short trades. Trading Plan for 13-Dec-2024 Gap Up Opening (200+ points) If the market opens with a gap up above 53,533.00, monitor for a potential retracement to the golden retracement zone (53,533.00 - 53,736.00). Look for bearish signals in this zone to initiate short positions. If the price sustains above 53,736.00, consider it a bullish sign and look for long opportunities targeting the deep retracement zone of the last swing (53,977.00 - 54,077.00). Place stop-loss orders below 53,533.00 to manage risk effectively. Flat Opening If the market opens flat around 53,224.85, observe the price action around the important support zone (53,101.00 - 52,945.00). If the price holds above 53,101.00, look for long opportunities targeting the golden retracement zone (53,533.00 - 53,736.00). If the price breaks below 52,945.00, consider short positions targeting the important support zone (52,643.20 - 52,530.30). Place stop-loss orders accordingly to manage risk. Gap Down Opening (200+ points) If the market opens with a gap down below 52,945.00, monitor for support around the important support zone (52,643.20 - 52,530.30). If the price holds above 52,530.30, look for long opportunities targeting the important support zone (53,101.00 - 52,945.00). If the price breaks below 52,530.30, consider it a bearish sign and look for short opportunities targeting lower levels. Place stop-loss orders above 52,945.00 to manage risk. Risk Management Tips for Options Trading Always use stop-loss orders to limit potential losses. Avoid over-leveraging and maintain a balanced portfolio. Monitor implied volatility and time decay when trading options. Diversify your trades to spread risk across different assets. Summary and Conclusion The trading plan for 13-Dec-2024 involves monitoring key levels and zones for potential price movements. The plan includes strategies for gap up, flat, and gap down openings, with specific actions based on price behavior around important support and resistance levels. Effective risk management is crucial, especially when trading options, to protect against significant losses. Disclaimer : I am not a SEBI registered analyst. This plan is for educational purposes only and should not be considered financial advice. Always conduct your own research and consult with a professional before making any trading decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BANK NIFTY S/R for 13/12/24Support 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
BankNifty Intraday Support & Resistance Levels for 13.12.2024On Thursday, BankNifty opened negative, briefly climbing to a high of 53537.45 before sliding to a low of 53174.40. It closed at 53216.45, down 175 points from the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain positive, indicating underlying strength. Demand/Support Zones Near Demand/Support Zone (125m): 52563.20 - 52780.90 Far Demand/Support Zone (Daily): 51693.95 - 52197.25 Far Demand/Support Zone (125m): 51693.95 - 51906.90 Supply/Resistance Zones Near Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (Tested)
NSE:BANKNIFTY
by PriteshPalan