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BANKNIFTY trade ideas

BANKNIFTY : Trading Levels and Plan for 24-Sep-2024Intro for Previous Day's Chart Pattern : On 24th September 2024, Bank Nifty exhibited a mixed trend, hovering near important support levels. The index faced resistance around the 54,263 zone, where profit booking was evident, while the lower levels around 53,902 provided opening support. Overall, the day was characterized by range-bound movement with a slight bearish bias towards the closing. Traders are now closely watching for either a breakout above 54,263 or a breakdown below 53,856, as the next major directional move could take place. Trading Plan for 25th September 2024 : For 25th September 2024, we will outline trading strategies based on different opening scenarios, considering a 200+ point gap. Here’s how to approach the day: Gap Up Opening (200+ points): If Bank Nifty opens above 54,263, which marks the new high resistance: - Watch for a breakout above 54,263. If the price holds above this level with buying momentum, you can enter long positions with a target of 54,729, keeping a stop loss below 54,100. - If Bank Nifty opens with a gap up but fails to sustain above 54,263 and shows signs of reversal, consider initiating short positions targeting 53,902 with a stop loss above 54,263. Flat Opening: If the index opens flat around 53,971: - Monitor price action around the opening support at 53,902. If Bank Nifty holds this level and rebounds, you can enter long positions with an initial target of 54,263. Place a stop loss below 53,856. - However, if the index breaks below 53,902 and sustains, short positions can be initiated targeting 53,747. Keep a stop loss above 53,971 to manage risk effectively. Gap Down Opening (200+ points): If Bank Nifty opens with a gap down near 53,747 or lower: - Focus on the crucial support at 53,747 for a potential trend reversal. If this support holds, you can enter long positions for a recovery towards 53,902 with a stop loss below 53,700. - If the price breaks below 53,747, expect further downside pressure, and you may initiate short positions targeting 53,576. Keep a stop loss above 53,856. Risk Management Tips for Options Trading: - Avoid chasing the market in a volatile gap-up or gap-down scenario. Let the first 15-30 minutes pass to gauge the direction. - Use options strategies like Iron Condors or Straddles in high volatility situations to limit risk exposure. - Always ensure that your maximum risk is defined before entering a trade, and position sizes should be aligned with your risk tolerance. Summary and Conclusion: Bank Nifty is at a crucial juncture, with significant resistance at 54,263 and key support at 53,747. A breakout above the resistance may lead to bullish momentum towards 54,729, while a breakdown below 53,747 could drive the index lower. Watch for confirmed signals before entering trades and manage your risk effectively. Disclaimer: I am not a SEBI-registered analyst. The ideas and strategies shared are for educational purposes only. Please consult your financial advisor or do your own research before making any trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
BANK NIFTY INTRADAY LEVELS FOR 25/09/2024BUY ABOVE - 54170 SL - 53920 TARGETS - 54380,54600,54800 SELL BELOW - 53920 SL - 54170 TARGETS - 53700,53500,53290 NO TRADE ZONE - 53920 to 54170 Previous Day High - 54170 Previous Day Low - 53920 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 Key levels for 25/09/2024**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 BLUE 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 BLUE line above. - **Take Profit:** For long trades, target the next RED line above. For short trades, target the next BLUE 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
BN S/R for 25/9/24Support 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
BankNifty Today: 2900+ Points Profit Caught on RisologicalBankNifty Today: 2900+ Points Profit Caught on Risological Swing Trader This is unbelievable! BankNifty 2900+ Points one side move caught. We got a confirmed entry at 51,230 and there is no looking back. Our last take profit target was at 52,147, closed partially on TP4 and continued to hold the other partial position that is currently at 2900+ massive MASSIVE profit!! For people who have been sending me DMs asking the indicato'r name, it is a paid indicator. Please Google - Risological Swing Trader. Best regards, Namaste!
NSE:BANKNIFTYLong
by ProfitsNinja
BANK NIFTY INTRADAY LEVELS FOR 24/09/2024BUY ABOVE - 54170 SL - 53920 TARGETS - 54380,54600,54800 SELL BELOW - 53920 SL - 54170 TARGETS - 53700,53500,53290 NO TRADE ZONE - 53920 to 54170 Previous Day High - 54170 Previous Day Low - 53700 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
6
As Banknifty is in Bullish Terrotory but some downside expectedBanknifty is in Bullish mood but whoever knows SMC trading might know some PoI is pending just around 53400 and I am not in any mood to fight with market and get into any bearish trade without following any stop losses. If banknifty touches the 53,400 mark then I will wait for confirmation with double bottom pattern which should must show higher high higher lows and then only I will trade with target upto 54932 for positional basis and for inraday I will trail after 54,200 because at any moment retracement can occur. Hope the chart and marking helps you in next trading sessions.
NSE:BANKNIFTYShort
by gourabvarma
BANKNIFTY : Levels and Plan for 24-Sep-2024In the previous trading session on 23-Sep-2024, Bank Nifty traded in a tight range, attempting to break new highs but facing resistance near 54,263.00. Multiple support levels were tested as buyers showed interest around 53,747.00. The price action suggests potential profit booking at highs, with key levels for both retracement and trend reversals highlighted on the chart. For the upcoming session on 24-Sep-2024, we need to focus on the opening scenario to plan accordingly. Trading Plan for 24-Sep-2024: Gap-Up Opening (+200 points): If Bank Nifty opens above 54,263, the market is likely testing new highs. Profit booking may occur around 54,729, so it's crucial to observe price action at these levels. - In case of a gap-up and rejection near 54,263, shorting opportunities may arise targeting 53,977 (Opening Support). - If it sustains above 54,263 on the first hourly close, expect continuation towards 54,729, where further resistance lies. Flat Opening (±100 points): A flat opening around 54,076.30 will signal market indecision. - Wait for price to settle for 30 minutes and assess whether it holds above 53,977. - If it holds above, a buying opportunity towards 54,263 is valid, with resistance playing a role in deciding the continuation or reversal. - Breaking below 53,977 could lead to a deeper correction towards 53,747 (Important support for trend reversal). Gap-Down Opening (-200 points): If Bank Nifty opens below 53,747, a retest of 53,304 (Buyer's Support) might occur. - Monitor for a potential reversal at 53,304, as it is a key retracement zone. - A break below 53,304 can drive prices lower towards 52,972, signaling a sharp correction. - If reversal signs are strong at 53,304, a bounce back towards 53,747 could provide a good risk/reward buying opportunity. Risk Management Tips for Options Trading: - Keep position sizes small in volatile markets, especially after a 200+ point gap opening. - Use the first 30 minutes of the opening to assess direction before jumping into trades. - In options trading, consider using spreads (buying and selling options at different strike prices) to limit risk. - Set stop losses based on hourly candle closes rather than immediate intraday price moves, as volatility can trigger unnecessary exits. Summary and Conclusion: For 24-Sep-2024, focus on price reactions at key levels such as 54,263, 53,977, and 53,747. Be patient, especially in the first half hour, to let the market settle and confirm the day's direction. Use risk management strategies like limiting position sizes and using spreads to navigate the volatility in options. With strong supports and resistances defined, the session offers potential for both retracement and trend continuation. Disclaimer: I am not a SEBI registered analyst. The above analysis is for educational purposes only, and all traders should conduct their research or consult with their financial advisor before trading.
NSE:BANKNIFTY
by LiveTradingBox
BANK NIFTY S/R for 24/9/24Support 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
BANK NIFTY INTRADAY LEVELS FOR 23/09/2023BUY ABOVE - 53900 SL - 53700 TARGETS - 54110,54300,54500 SELL BELOW - 53700 SL - 53900 TARGETS - 53500,53290,53020 NO TRADE ZONE - 53700 to 53900 Previous Day High - 54100 Previous Day Low - 53020 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 : Trading levels and plan for 23-Sep-2024 Introduction: In the previous trading session, Bank Nifty saw a bullish movement, rallying towards the resistance zone at **54,263**, where we anticipate profit booking or sideways consolidation. The price has managed to stay above the opening support at **53,747**, and the chart highlights both potential retracement levels and the upward resistance around **54,729**. Traders should watch for signs of either continuation or correction in the upcoming session. --- Trading Plan for 23-Sep-2024: Considering Opening Scenarios (200+ points gap): Gap Up Opening (200+ points above 53,937): If Bank Nifty opens with a gap up near **54,200 - 54,300**, we are approaching a critical resistance zone. - Look for price action at **54,263**; if it sustains above this level, we could see an upward push towards **54,729**. - However, a failure to break through could lead to profit booking, and a short opportunity may present itself with a stop-loss above **54,300** and a target back towards **53,900**. - Avoid aggressive buying near **54,263**, and instead wait for a confirmed breakout to enter long positions. --- Flat Opening (within 53,800 - 53,950): A flat opening signals a neutral sentiment. - Wait for the price to break either the **53,747** support or **54,263** resistance to take a directional trade. - If Bank Nifty stays in the sideways zone between **53,800 - 54,200**, consider a range-bound strategy (buy at support, sell at resistance). - Watch for consolidation and potential volatility breakout, especially in the second half of the trading day. Keep your stop-loss tight around **53,650**. --- Gap Down Opening (200+ points below 53,747): A gap down near **53,500 - 53,600** would test the lower support levels. - If the price holds above **53,426**, consider buying the dip with a target towards **53,900**. - If Bank Nifty breaks below **53,426**, we may see extended selling towards the next key support at **53,304** or even further down to **52,972**. - Be cautious in this scenario; ensure a stop-loss below **53,400** to protect against deeper corrections. --- Risk Management Tips for Options Trading: - Keep an eye on **implied volatility** (IV); elevated IV can make option premiums expensive, while low IV suggests cheaper options. - Avoid holding long options positions close to expiration, as time decay accelerates (Theta). - Use strategies like **bull call spreads** or **bear put spreads** to limit risk and reduce the impact of time decay. - Always define your **maximum loss** before entering the trade, and never risk more than **2% of your capital** on any single trade. --- Summary and Conclusion: Bank Nifty is at a crucial juncture, with resistance at **54,263** and support at **53,747**. The direction of the market will depend on whether Bank Nifty can break through its resistance or if profit booking takes over. The opening scenarios will provide insights into the day’s trading range, with the **54,729** level acting as a key target for any bullish move, while **53,426** remains a vital support for retracement. Disclaimer: I am not a SEBI registered analyst. All the information provided is based on my own analysis, and you are advised to conduct your own research or consult a financial advisor before making any trades.
NSE:BANKNIFTY
by LiveTradingBox
Bank Nifty LongBank Nifty MTF Analysis Bank Nifty Yearly Demand Breakout 41829 Bank Nifty 6 Month Demand 41829 Bank Nifty Qtrly Demand BUFL 48636 Bank Nifty Qtrly Demand Breakout 53180 Bank Nifty Monthly Demand Breakout 48461 Bank Nifty Weekly Demand BUFL 51994 Bank Nifty Daily Demand BUFL 53353 Bank Nifty 240 Demand BUFL 53354 Bank Nifty 60 Demand BUFL 53110 ENTRY -1 53353 ENTRY -2 51994 Avg 52674 SL 53037 RISK 316 Potential Target 55267 First recovery Target Points 1213 Last Swing Low 52841 Last Swing High 54054 RR 3.84 RR 4%
NSE:BANKNIFTYLong
by pradyammm
BANK NIFTY S/R for 23/9/24Support 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