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BANKNIFTY trade ideas

BANKNIFTY KEY LEVELS FOR 1817/09/2024**Explanation:** This trading system helps you avoid blind trades by providing confirmation for better entries and exits. It considers volume, past prices, and price range. **Entry/Exit Points:** - **Entry/Exit Lines:** Use the GREEN 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 GREEN line above. - **Take Profit:** For long trades, target the next RED line above. For short trades, target the next GREEN 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 Podcast 17 Sep 2024Today, only 1 trade setup was available based on Podcast Strategy. - When the Podcast entry had come, just before that 5minute candle closed both below and above Opening Price - 52239 - The Data was -ve, and 2 departments were bullish. So again, looked at the strikes 52200 and 52300, where Put writers increased to give momentum toward 52400. - The stoploss was hit, as call writers increased at the strike 52300. Notes: - Simultaneously, a selling strategy was executed based on Price Action, which gave 0.5% return on the capital.
NSE:BANKNIFTYLong
by gupshupblog
BANK NIFTY S/R for 17/9/24Support 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. 20 EMA (Exponential Moving Average): Above 20 EMA: If the stock price is above the 20 EMA, it suggests a potential uptrend or bullish momentum. Below 20 EMA: If the stock price is below the 20 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. RSI: RSI readings greater than the 70 level are overbought territory, and RSI readings lower than the 30 level are considered oversold territory. Combining RSI with Support and Resistance: Support Level: This is a price level where a stock tends to find buying interest, preventing it from falling further. If RSI is showing an oversold condition (below 30) and the price is near or at a strong support level, it could be a good buy signal. Resistance Level: This is a price level where a stock tends to find selling interest, preventing it from rising further. If RSI is showing an overbought condition (above 70) and the price is near or at a strong resistance level, it could be a signal to sell or short the asset. 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
Day Trading the Nifty Bank Index: A Technical Analysis ApproachAnalyzing the Nifty Bank Index Chart Chart Pattern: The chart appears to be showing a bullish flag pattern. This pattern is characterized by a sharp uptrend followed by a period of consolidation in the shape of a rectangle or pennant. Technical Analysis: * Bullish Flag: The initial sharp uptrend suggests strong buying pressure. The subsequent consolidation phase, resembling a flag, indicates a potential pause before the uptrend resumes. * Support and Resistance: The horizontal lines at approximately 51,400 and 51,800 act as support and resistance levels within the flag. A breakout above the upper line could signal a continuation of the uptrend. * Volume: The volume appears to be decreasing during the consolidation phase, which is typical. A surge in volume during a breakout could confirm the uptrend. * Moving Average: The 50-day moving average (MA) is currently below the price, indicating a bullish bias. A break above the MA could further strengthen the bullish outlook. Trading Strategy: * Wait for Breakout: A conservative approach would be to wait for a clear breakout above the resistance level with increasing volume. * Stop Loss: Place a stop loss below the recent low to limit potential losses. * Target: The target could be based on the height of the flag or technical indicators like Fibonacci extensions. Post for TradingView: Title: Nifty Bank Index: Bullish Flag Breakout Potential Body: The chart for the Nifty Bank Index is showing a bullish flag pattern, suggesting a potential continuation of the uptrend. Key points: * Bullish flag formation * Strong support level at 51,400 * Volume decline * Bullish moving average A breakout above the resistance level could signal a significant uptrend. Be on the lookout for increased volume and a clear break to confirm the bullish move. Trading Plan: * Entry: Long on a break above the resistance level with increasing volume * Stop Loss: Below the recent low * Target: Based on flag height or Fibonacci extensions.
NSE:BANKNIFTY
by TradeAXN
BANK NIFTY INTRADAY LEVEL FOR 16 SEP 2024BUY ABOVE - 51990 SL - 51820 TARGETS - 52180,52400,52620 SELL BELOW - 51670 SL - 51820 TARGETS - 51530,51400,51230 NO TRADE ZONE - 51670 to 51990 Previous Day High - 51990 Previous Day Low - 51670 Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day. Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move. Please NOTE: this levels are for intraday trading only. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered, Please consult a SEBI registered financial advisor for your financial matters before investing And taking any decision. We are not responsible for any profit/loss you made. Request your support and engagement by liking and commenting & follow to provide encouragement HAPPY TRADING 👍
NSE:BANKNIFTY
by Jagadheesh_JP
BANKNIFTY CORRECTIVE RALLY OR IMPULSEBased on the chart analysis, the following observations can be made: A double correction in the form of a wxy pattern was completed near the price level of 49,650 on August 14, 2024. Subsequently, Wave 1, consisting of five subdivisions, was completed. Wave 2 concluded on September 9, 2024, at a price level of 50,370. A smaller degree five-wave pattern was completed on September 11, 2024, with a price level of 51,420. Currently, it appears that we are in the third wave on a smaller time frame, with support at 51,754. Given the current trajectory, the price level of 52,639 may be achieved soon. Disclaimer : This analysis is based on historical price data and technical patterns and is for informational purposes only. It does not constitute financial advice or a recommendation to buy or sell any securities. Please consult with a financial advisor before making any investment decisions. Regards
NSE:BANKNIFTY
by imkhushal
2
Bank Nifty Podcast 13 Sep 2024There were three setups available, out of which two setups were taken based on Option Chain Data. Setup #2 - Stoploss Hit, although the Changing in OI data was positive and all the four departments were "Bullish". Setup #3 - I was ready to take another trade on CE side, due to data being highly positive. --------- Notes: - Taking trade without data is risky, as even with 50% risk the stoploss increases the loss as equal as taking 100% complete trade. So I would always avoid such trade and hold my nerves to avoid FOMO of getting into any such trades.
NSE:BANKNIFTYLong
by gupshupblog
Nifty Bank Index (Bank Nifty) - Daily Time Frame AnalysisTechnical Analysis: 1. Overall Trend: The Bank Nifty is showing signs of consolidation in the recent past, as it has been moving within a range between 51,000 and 53,200. The index recently bounced off its support near 50,800 and is testing resistance at around 52,000. 2. Support and Resistance Levels: Resistance Levels: Immediate resistance at 52,000-52,200 (recent swing high). Strong resistance at 53,000-53,200 (near previous highs). Support Levels: Immediate support at 51,600 (yesterday’s low). Strong support at 50,800-51,000 (previous consolidation area). Further support near 49,800 if the price breaks below the key levels. 3. Candlestick Patterns (Last 11 Candlesticks): The past 11 candlesticks suggest indecision and range-bound behavior. There are alternating red and green candles, showing that both buyers and sellers are battling for control. No clear momentum is visible yet for a strong breakout or breakdown. 4. Volume: Volume levels are slightly lower than the average (volume moving average is around 154 million, and the recent day’s volume is around 151 million). If we see increasing volume with a breakout above resistance or a breakdown below support, it would be a strong confirmation. Intraday Support and Resistance Calculation Using Last 11 Candlesticks: 1. Pivot Points: Pivot (P): 51,538 Resistance (R1): 52,039 Support (S1): 51,040 Resistance (R2): 52,340 Support (S2): 50,739 2. Fibonacci Levels (Recent High-Low): Fibonacci Resistance (61.8%): 52,200 Fibonacci Support (38.2%): 51,250 💡 Day Trading Strategy: If Bank Nifty breaks above 52,200 with strong volume, consider long positions with a target of 52,800-53,000. If it breaks below 51,040, short positions can be considered with a target of 50,800-50,500.
NSE:BANKNIFTY
by TradeAXN