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BANKNIFTY trade ideas

[INTRADAY] #BANKNIFTY PE & CE Levels(21/08/2024)🔔 Bank Nifty Update for Today’s Expiry Session: 📈 Gap-Up Opening Expected: Expected Opening Level: Near 51000 Key Level: 51050 Potential Upside Target: 51450+ Today, Bank Nifty is anticipated to open with a gap up near the 51000 level. If the index sustains above this level after opening and starts trading above 51050, we could see a strong upside rally of 400-500 points, potentially reaching up to 51450+ during today’s expiry session. 📉 Watch for Downside Risks: Critical Reversal Level: 50950 Support Level: 50550 Major Downside Level: 50450 However, if Bank Nifty fails to sustain above 51000 and shows signs of reversal around 50950, downside movement is possible. The 50550 level will act as support for today’s session, with a major downside expected only if the index breaks and starts trading below 50450.
NSE:BANKNIFTY
by TradZoo
BANK NIFTY INTRADAY LEVELS 21/08/2024BUY ABOVE - 50740 SL - 50600 TARGETS - 50890,51070,51300 SELL BELOW - 50600 SL - 50740 TARGETS - 50420,50250,50100 NO TRADE ZONE - 50600 to 50740 Previous Day High - 51020 Previous Day Low - 50420 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 - Levels and Plan for 21-Aug-2024On 20-Aug-2024, Bank Nifty showed mixed market behavior, with resistance around 50,973 and critical support at 50,652 and 50,440. As we approach 21-Aug-2024, we must focus on how Bank Nifty reacts to a gap opening of 200+ points. Here’s the detailed trading plan considering various scenarios for such a gap opening. Gap Up Opening (200+ Points) If Bank Nifty opens significantly higher, around or above the 51,150 resistance level, traders should be cautious about entering trades right at the open. Entry: Wait for a pullback towards 50,973 or 51,150. If the price sustains above these levels, consider entering a long position. Target: The first target would be the profit booking zone at 51,316, with an extended target towards 51,425. Stop Loss: Place a stop loss slightly below 50,973 to protect against any reversal back into the gap. If the price shows signs of rejection around the 51,150 level, indicating a potential exhaustion gap, be cautious about holding long positions. Alternative Plan: If the price drops below 51,150 after a gap-up, consider shorting towards 50,973, with a stop loss above 51,150. Flat Opening If Bank Nifty opens flat near 50,719, the trading day could be less volatile compared to a large gap opening. Traders should prepare for both upward and downward price movements. Entry: For a bullish move, wait for a breakout above 50,973 to enter long positions. For a bearish move, look to short if the price breaks below 50,652. Target: For long positions, aim for 51,150; for short positions, target 50,440. Stop Loss: Place stop losses below 50,652 for longs and above 50,973 for shorts. This approach allows you to capitalize on the market's directional move, regardless of whether it trends upward or downward. Gap Down Opening (200+ Points) If Bank Nifty opens significantly lower, near or below the 50,440 support level, it indicates a bearish sentiment for the day. Entry: Consider shorting on a pullback towards 50,440 if this level now acts as resistance. If the price sustains below this level, continue to hold the short position. Target: The target for short positions would be around the **"Must Buy Zone"** at 50,188. Stop Loss: Place a stop loss above 50,440 to safeguard against any recovery attempts. If the market attempts to recover after the gap-down opening, it may present an opportunity for a reversal trade. Alternative Plan: If the price climbs back above 50,440, consider a long position, targeting 50,652 as the initial level and 50,973 if momentum continues. Risk Management Tips for Options Trading Position Sizing: On volatile days like this, reduce your position size to minimize risk exposure. Time Decay Consideration: Given the time decay in options, especially near expiry, consider trading options with strikes near the market price for better liquidity and lower time decay impact. Protective Strategies: Use protective puts or call spreads to hedge against significant losses. Avoid Impulsive Trades: Stick to your trading plan and avoid impulsive trades, as emotional decisions can lead to significant losses. Summary and Conclusion The trading plan for 21-Aug-2024 emphasizes the importance of reacting to the market's response to a 200+ point gap opening. Whether the market gaps up or down, identifying key levels like 51,150 and 50,440 will be crucial for effective trading. Proper risk management, especially in options trading, is vital to navigating the day's volatility. Disclaimer: I am not a SEBI-registered analyst. The trading plan shared above is based on personal analysis and is for educational purposes only. Please trade responsibly and consult with your financial advisor before making any trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
BANKNIFTY - Levels and Plan for 21-Aug-2024On 20-Aug-2024, Bank Nifty showed mixed market behavior, with resistance around 50,973 and critical support at 50,652 and 50,440. As we approach 21-Aug-2024, we must focus on how Bank Nifty reacts to a gap opening of 200+ points. Here’s the detailed trading plan considering various scenarios for such a gap opening. Gap Up Opening (200+ Points) If Bank Nifty opens significantly higher, around or above the 51,150 resistance level, traders should be cautious about entering trades right at the open. Entry: Wait for a pullback towards 50,973 or 51,150. If the price sustains above these levels, consider entering a long position. Target: The first target would be the profit booking zone at 51,316, with an extended target towards 51,425. Stop Loss: Place a stop loss slightly below 50,973 to protect against any reversal back into the gap. If the price shows signs of rejection around the 51,150 level, indicating a potential exhaustion gap, be cautious about holding long positions. Alternative Plan: If the price drops below 51,150 after a gap-up, consider shorting towards 50,973, with a stop loss above 51,150. Flat Opening If Bank Nifty opens flat near 50,719, the trading day could be less volatile compared to a large gap opening. Traders should prepare for both upward and downward price movements. Entry: For a bullish move, wait for a breakout above 50,973 to enter long positions. For a bearish move, look to short if the price breaks below 50,652. Target: For long positions, aim for 51,150; for short positions, target 50,440. Stop Loss: Place stop losses below 50,652 for longs and above 50,973 for shorts. This approach allows you to capitalize on the market's directional move, regardless of whether it trends upward or downward. Gap Down Opening (200+ Points) If Bank Nifty opens significantly lower, near or below the 50,440 support level, it indicates a bearish sentiment for the day. Entry: Consider shorting on a pullback towards 50,440 if this level now acts as resistance. If the price sustains below this level, continue to hold the short position. Target: The target for short positions would be around the **"Must Buy Zone"** at 50,188. Stop Loss: Place a stop loss above 50,440 to safeguard against any recovery attempts. If the market attempts to recover after the gap-down opening, it may present an opportunity for a reversal trade. Alternative Plan: If the price climbs back above 50,440, consider a long position, targeting 50,652 as the initial level and 50,973 if momentum continues. Risk Management Tips for Options Trading Position Sizing: On volatile days like this, reduce your position size to minimize risk exposure. Time Decay Consideration: Given the time decay in options, especially near expiry, consider trading options with strikes near the market price for better liquidity and lower time decay impact. Protective Strategies: Use protective puts or call spreads to hedge against significant losses. Avoid Impulsive Trades: Stick to your trading plan and avoid impulsive trades, as emotional decisions can lead to significant losses. Summary and Conclusion The trading plan for 21-Aug-2024 emphasizes the importance of reacting to the market's response to a 200+ point gap opening. Whether the market gaps up or down, identifying key levels like 51,150 and 50,440 will be crucial for effective trading. Proper risk management, especially in options trading, is vital to navigating the day's volatility. Disclaimer: I am not a SEBI-registered analyst. The trading plan shared above is based on personal analysis and is for educational purposes only. Please trade responsibly and consult with your financial advisor before making any trading decisions.
NSE:BANKNIFTY
by LiveTradingBox
BNF for 21 AugustAfter the ups and downs of the last several days, today the market has given a breakout on a big time frame and now the market is retracing. And small investors are moving out. A good profit booking can come till 50565. According to me, the market will remain below its red mark for one or two days, which does not mean that there is any negative sentiment in the market. Market will touch 50565 and then be ready for ₹52000. Sentiment : Pure Bullish until 50500 break. Every dip will be for fresh buying and new positions for next expiry.
NSE:BANKNIFTYLong
by optionhunting
BANK NIFTY S/R for 21/8/24Support and Resistance Levels: Support Levels: These are price points (green line/share) 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 Prediction Tomorrow 21 August 2024BANK NIFTY Prediction for tomorrow the 21 August 2024 After getting a clear entry in BankNifty on 16 August at 50,322 using the Risological Swing Trading indicator, BankNifty met the first profit target today at 50,751 Total lots purchased - 5 lots Lots closed at target 1 : 1 lot closed The Risological dotted trendline is sitting at exact entry point. This means, if there is a surprise reversal, and the price closes below the Risological trend line, we will close the entire CE position and look for PE buy positions. If the price continues in the CE direction the profit targets are marked in the chart for your reference. Consider these as your key resistance areas as well. How was your day? Share your views.
NSE:BANKNIFTYLong
by ProfitsNinja
BANK NIFTY INTRADAY LEVELS FOR 20/08/2024BUY ABOVE - 50420 SL - 50250 TARGETS - 50600,50800,50940 SELL BELOW - 50250 SL - 50420 TARGETS - 50100,49880,49700 NO TRADE ZONE - 50250 to 50420 Previous Day High - 50800 Previous Day Low - 50250 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
Price Action This Bank Nifty chart shows that the price is moving within a descending channel. The price is currently near the upper boundary of the channel, suggesting a potential breakout if it moves above this level. The green arrow indicates a bullish scenario, where the price could rise if it breaks out of the channel, targeting higher resistance levels. On the other hand, the red arrow indicates a bearish scenario, where the price could fall if it fails to break out and moves back toward the lower boundary of the channel. The chart highlights the importance of monitoring the price action at the channel boundaries for potential trading opportunities.
NSE:BANKNIFTY
by TradeAXN
1
BANKNIFTY - Trading levels and Plan for 20-Aug-2024The **BankNifty** Index closed the previous trading session near **50,418.85** after a volatile session that showed mixed signals. The market is now hovering near a key resistance zone, and the price action suggests that the next move will depend on how the market opens on **20-Aug-2024**. This plan will guide you through potential trading strategies for different opening scenarios: **Gap Up, Flat, and Gap Down**. --- ### Trading Plan for 20-Aug-2024: #### 1. Gap Up Opening (200+ points above) - If the market opens with a gap up above **50,847**, we need to assess the strength of the move quickly. - **Scenario A**: If the price holds above **50,847** and shows bullish momentum, consider entering long positions with a target of **50,973** (First Resistance for retracement). Keep a stop loss just below **50,847** to protect against any false breakouts. **Scenario B**: If the price retraces after the gap-up opening, monitor for support around **50,632**. If support holds, it might be a good opportunity to buy with a target of **50,847**. However, if the price breaks below **50,632**, it may head towards the **50,418** level, where you can look for further buying opportunities. #### 2. Flat Opening (near previous close) - A flat opening around **50,418** would suggest market indecision. - **Scenario A**: If the price gains momentum above **50,632**, it is likely to test the **50,847** resistance. Consider long positions above **50,632** with a target of **50,847** and a stop loss below **50,418**. **Scenario B**: If the market struggles and breaks below **50,380**, the market may test lower support levels near **50,157** (Opening Support Zone). Consider short positions below **50,380** with a target of **50,157** and a stop loss above **50,418**. #### 3. Gap Down Opening (200+ points below) - A gap down opening below **50,157** would bring the strong support zone at **49,890** into focus. - **Scenario A**: If the market finds support near **50,157** and shows signs of recovery, consider long positions with a target of **50,380**. A stop loss just below **50,157** should be used to manage risk. **Scenario B**: If the price fails to hold above **50,157** and continues to decline, it may test the extended support level around **49,890**. Short positions can be considered below **50,157** with a target of **49,890** and a stop loss above **50,157**. --- ### Risk Management Tips for Options Trading : - Always utilize **stop losses** to protect your capital, especially when trading options in a volatile market. - Consider using options strategies like **spreads** or **iron condors** to hedge your positions, reducing potential losses while maintaining upside potential. - Assess the **implied volatility** of options before entering trades; high volatility may indicate higher premiums but also greater risk. - Limit your exposure by trading within your risk tolerance and avoid over-leveraging, especially in uncertain market conditions. --- ### Summary and Conclusion : The **Bank Nifty** is approaching critical levels, and the market's direction on **20-Aug-2024** will likely depend on the opening scenario. This trading plan provides a structured approach for various scenarios, emphasizing the importance of recognizing key support and resistance levels. Additionally, proper risk management, especially in options trading, is crucial to navigating potential market volatility. --- ### Disclaimer : I am not a SEBI registered analyst. The views expressed here are for educational purposes only and should not be considered as financial advice. Please do your own research or consult with a financial advisor before making any trading decisions. --- This plan offers clear strategies based on potential market openings, helping you to prepare for different market conditions while emphasizing the importance of managing risk effectively.
NSE:BANKNIFTYLong
by LiveTradingBox
BANK NIFTY S/R for 20/8/24Support and Resistance Levels: Support Levels: These are price points (green line/share) 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