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BANKNIFTY trade ideas

BANKNIFTY : Trading Levels and Plan for 12-Dec-2024Bank Nifty Trading Plan for 12-Dec-2024 Intro: Plan vs Actual for 11-Dec-2024 Yesterday, our plan identified key zones for Bank Nifty, including the "Liquidity Zone" and the "Buyer’s Entry Zone." Bank Nifty opened near the projected "Opening Support/Resistance Zone" at 53,398 and consolidated around the "Liquidity Zone" before attempting a breakout towards the resistance at 54,034. The market respected the identified levels, providing opportunities for both scalpers and swing traders. However, the upward movement lacked strong momentum beyond 54,034, leading to a sideways close near 53,392. Trading Plan for 12-Dec-2024 Gap Up Opening (200+ Points): If Bank Nifty opens significantly above 53,600: - Immediate focus will be on the "Liquidity/NO Trade Zone" at 53,699. Wait for the first 15-minute candle to confirm strength. - A sustained move above 53,699 can lead to a test of the "First Resistance Zone" at 54,034-54,479. Consider initiating long positions only after an hourly close above 54,034 with targets towards 54,479. - If rejection occurs near 54,034, intraday shorts can be explored with targets back to 53,699, keeping stop-loss above 54,100. - Risk Tip: Use deep out-of-the-money (OTM) options for breakout trades to reduce premium risk. Flat Opening: If Bank Nifty opens near 53,398: - This level serves as "Opening Support/Resistance Zone." Expect range-bound movement initially. - A breakout above 53,699 will signal bullish momentum, with targets of 54,034 and 54,479. Initiate long trades above 53,699, keeping a strict stop-loss below 53,398. - A breakdown below 53,398 could lead to a test of 53,069, which is the "Buyer’s Support Zone for Consolidation." Watch for reversal patterns here to re-enter longs. - Risk Tip: Avoid aggressive positions during sideways trends (Yellow zones). Gap Down Opening (200+ Points): If Bank Nifty opens below 53,200: - Monitor the "Buyer’s Try Zone" at 52,968-53,069. This is a critical demand zone; a strong reversal here can provide long opportunities with a target back towards 53,398. - If this zone fails to hold, expect a sharper decline towards the "Must Try Zone for Buyers" at 52,531-52,650. Wait for a bullish reversal signal before initiating trades. - For intraday shorts, look for breakdown confirmation below 52,968 with a target towards 52,531. - Risk Tip: Deploy hedged positions like straddles/strangles during volatile gap-down openings. Tips for Risk Management in Options Trading: Always trade with defined stop-loss levels. For options, set a premium stop-loss (e.g., 30-50%). Avoid overleveraging. Position size should not exceed 2-3% of your trading capital. Monitor IV (Implied Volatility) spikes, especially during news-heavy sessions. Use spreads to minimize premium decay in sideways markets. Summary and Conclusion: - Bank Nifty is at a critical juncture with a potential for high volatility. Key levels to watch are 54,034 on the upside and 52,968 on the downside. - Follow the plan with discipline and respect stop-loss levels. Disclaimer: I am not a SEBI-registered analyst. This plan is for educational purposes only. Please consult your financial advisor before making any trading decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BankNifty Intraday Support & Resistance Levels for 12.12.2024On Wednesday, BankNifty opened negative and traded in a volatile range. It touched a low of 53302.15 before recovering to a high of 53648.05, ultimately closing at 53392.25, losing 185 points over the previous close. The Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain positive. 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 Far Demand/Support Zone (Daily): 49787.10 - 50983.50 Supply/Resistance Zones Near Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (Tested) Key Insights Resistance at 53750: BankNifty continues to face resistance near this level. A decisive breakout could pave the way toward 54400 and beyond. Support at 52780: Watch for demand near this zone; a breach could signal further downside toward 52200.
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY KEY LEVELS 12/12/2024//@description // All credit goes to Tony for the concept of this indicator. His Trading View link: www.tradingview.com // Note: The calculation method in this indicator differs from Tony's, but the concept is derived from his work. **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
BANKNIFTY : Trading plan and Levels for 11-Dec-2024Previous Day's Chart Pattern Analysis: The chart for 10-Dec-2024 shows significant price movement with clear areas of interest. The market showed a liquidity sweep near the 53,069 zone , followed by consolidation. A CHoCH (Change of Character) around 53,398 indicated a shift in trend. The resistance near 54,034 remains crucial, and breaking this could lead to a bullish rally toward new highs. The yellow trend represents sideways movement, the green trend shows bullish momentum, and the red trend indicates bearish possibilities. Trading Plan for 11-Dec-2024: Scenario 1: Gap Up Opening (200+ points above the previous close): If Bank Nifty opens around 53,957 or above , the first resistance zone at 54,034 becomes crucial. Wait for price action near this level. Plan of Action: If it breaks and sustains above 54,034 , initiate a long position with a target of 54,479 . Place a stop loss just below 53,957 . If there’s a rejection at 54,034 , look for short opportunities targeting 53,699 (Opening Support). Avoid aggressive entries in the first 15 minutes to allow volatility to settle. ] Scenario 2: Flat Opening (Within 50 points of the previous close): If Bank Nifty opens near 53,604 , the Liquidity / NO Trade Zone (between 53,699 and 53,398) becomes the focus. Plan of Action: If the price stays within this range, avoid trades and wait for a breakout. On a breakout above 53,699 , go long with a target of 54,034 . Keep a stop loss below 53,550 . If it breaks below 53,398 , short the market targeting the Buyer's Support Zone near 53,069 . Use small lot sizes to manage risk until a clear trend emerges. Scenario 3: Gap Down Opening (200+ points below the previous close): A gap down opening near 53,069 or lower will test the buyer’s strength. Plan of Action: If the price takes support near 53,069 , look for bullish reversal patterns and initiate a long position with a target of 53,398 . Keep a stop loss below 52,968 . If it breaks below 52,968 , further downside to the Must Try Zone for Buyers at 52,650 is possible. Watch for reversals here to take long positions. Avoid chasing the trend blindly in the first hour; let the market stabilize before entry. Risk Management Tips for Options Trading: Always calculate your risk before entering a trade. Limit risk to 1-2% of your total capital per trade. For gap openings, avoid buying options immediately due to high premiums; wait for IV (implied volatility) to cool down. Use spreads (e.g., Bull Call Spreads or Bear Put Spreads) to minimize risk. Avoid overtrading and stick to predefined levels. Summary and Conclusion: For 11-Dec-2024, focus on key levels: 54,034 (Resistance), 53,699 (Support/Resistance), and 53,069 (Major Support). React based on price action and avoid impulsive decisions. The yellow zones suggest consolidation, green zones show bullish potential, and red zones indicate bearish sentiment. Maintain strict risk management and use options wisely. Disclaimer: I am not a SEBI-registered analyst. The above analysis is for educational purposes only. Please consult your financial advisor before making any trading decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BankNifty Intraday Support & Resistance Levels for 11.12.2024On Tuesday, BankNifty opened slightly positive but experienced a volatile trading session. It dipped to a low of 53302.65, then rallied in the final session to hit a high of 53624.05. It closed at 53577.70, marking a gain of 170 points over the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain positive, signalling continued bullish momentum as of now. 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
BANK NIFTY S/R for 11/12/24Support 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 10.12.2024On Monday, BankNifty opened on a negative note, hitting a low of 53326.40 before rallying to a high of 53779.10. However, it couldn’t surpass Friday's high, facing resistance once again from the Weekly Supply Zone. It closed at 53407.75, losing 101 points. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain positive, indicating a bullish undertone. 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 : Levels and Strategies for 10-Dec-2024Trading Plan for Bank Nifty – 10-Dec-2024 Intro: On the previous trading day, Bank Nifty exhibited a mixed trend with both bullish and bearish moments. The chart displayed notable buyer activity near 52,968 (read with the full plan), acting as a consolidation zone. Resistance levels at 53,700 and 54,069 capped upward movements, while support levels at 53,074 and 52,715 offered stability. The yellow trend marked potential sideways movement, green indicated bullish reversals, and red outlined bearish breakdowns. Opening Scenarios: Gap-Up Opening (+200 Points): If Bank Nifty opens near 53,700–53,800, this aligns with the Opening Resistance . Wait for the first 15-minute candle to confirm price direction. Action Plan: If the price sustains above 53,800, initiate a long position targeting 54,069 as the next resistance, with a stop loss at 53,700. However, if rejection is observed at 53,800, anticipate a pullback toward 53,415.50. Enter short trades below 53,700, aiming for 53,310. Risk Management Tip: Avoid aggressive entries in the first 30 minutes. Monitor option premiums carefully for IV spikes. Flat Opening: If Bank Nifty opens near 53,415.50, it positions itself in the neutral zone. Action Plan: A breakout above 53,700 can signal bullish momentum toward 54,069. Initiate long positions with tight stop losses below 53,415.50. In case of consolidation or a bearish breakdown below 53,310, short trades can be initiated targeting 53,074. Risk Management Tip: Trail stop losses every 50 points to protect gains and reduce risks in volatile conditions. Gap-Down Opening (-200 Points or More): If Bank Nifty opens near 53,074 or lower, it may retest critical support zones at 52,968 or even 52,715. Action Plan: Watch for buying interest at 52,968–53,074; initiate long trades if bullish candles form, targeting 53,310 and 53,415.50. A breakdown below 52,715 can push the index toward the Deep Retracement Zone of 52,568. Plan short trades with tight stop losses above 52,715. Risk Management Tip: Avoid over-leveraging in gap-down scenarios, as volatility tends to increase. Focus on hedged option strategies like bull call spreads. Summary & Conclusion: Resistance Levels: 53,700 , 54,069 Support Levels: 53,310 , 52,968 , 52,715 The market may remain sideways (yellow trend) unless clear breakouts or breakdowns occur. Adopt a disciplined approach and avoid emotional trading during volatile phases. Disclaimer: This analysis is for educational purposes only. I am not a SEBI-registered analyst. Traders are advised to conduct their research or consult financial experts before taking any positions.
NSE:BANKNIFTYLong
by LiveTradingBox