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BANKNIFTY trade ideas

Banknifty 16th July ExpiryWith a very strong support at 52200, the weekly expiry is expected above 52200. mArket has taken the pending demand orders in the range 51700-52000 and has provided the momentum. It will be interesting to see the high levels in coming das. However with monthly supply zones at 52900-53100 levels may stop the speedy up movement for the month. Overall the Banknifty is expected to move in the range 53100-52000 until the monthly expiry. The only caveat is uncertainty because of budget and what is inside in its store unlike the election day result. Keep yourself hedged if you are trading in the budget week so that unexpected volatility does not erode your capital.
NSE:BANKNIFTYLong
by bhabtoshojha
BANK NIFTY INTRADAY LEVELS FOR 16/07/2024BUY ABOVE - 52620 SL - 52400 TARGETS - 52800,53000,53230 SELL BELOW - 52400 SL - 52620 TARGETS - 52200,52000,51740 NO TRADE ZONE - 52400 to 52620 Previous Day High - 52620 Previous Day Low - 52200 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 Strategies for 16-July-2024On July 15th, 2024, the Nifty Bank Index exhibited a range-bound movement with significant price levels highlighted for potential trading opportunities. The chart identifies key zones such as the Profit Booking Zone, Resistance for New Highs, No Trade Zone, Intraday Important Support, and the Best Buy Zone for Trend Reversal. ### Trading Plan and Strategies for Different Openings for 16_Jul-2024 #### 1. Gap Up Opening (200 points) Opening Level: Around 52,684 - 52,684 + 200 = 52,884 Resistance for New Highs: Observe if the price approaches the Resistance for New Highs at 52,934 - 52,830. If resistance holds, consider short positions with targets at the No Trade Zone levels around 52,654. Profit Booking Zone: If the gap-up is strong and the price breaches the Resistance for New Highs, monitor for any signs of profit booking around 53,138 - 53,245. Book profits accordingly. Intraday Support: In case of a pullback, watch the Intraday Important Support at 52,049 - 51,984 for potential buy opportunities. #### 2. Flat Opening Opening Level: Around 52,484.40 No Trade Zone: Avoid initiating trades within the No Trade Zone (52,654). Wait for a clear breakout or breakdown. Breakout Strategy: If the price moves above 52,654, look for long opportunities targeting Resistance for New Highs at 52,934. Breakdown Strategy: If the price falls below 52,447.72, short positions can be considered with a target around the Intraday Important Support at 52,049. #### 3. Gap Down Opening (200 points) Opening Level: Around 52,484 - 200 = 52,284 Intraday Support: The first support level to watch is around 52,049 - 51,984. If this support holds, consider long positions targeting the No Trade Zone around 52,654. Best Buy Zone: If the price breaks below 51,984, monitor the Best Buy Zone for Trend Reversal at 51,449 - 51,300 for potential long entries. Resistance Levels: In case of a rebound, look for resistance at the No Trade Zone and Resistance for New Highs levels. ### Summary and Conclusion In summary, the Nifty Bank Index offers distinct zones for trading opportunities based on the opening scenario. Traders should focus on key levels such as the Resistance for New Highs, Profit Booking Zone, No Trade Zone, Intraday Important Support, and the Best Buy Zone for Trend Reversal. Careful monitoring of these levels and appropriate trade management will be crucial for a successful trading day. ### Disclaimer I am not a SEBI registered analyst. The above analysis and strategies are for educational purposes only. Please consult with a certified financial advisor before entering into any trade.
NSE:BANKNIFTYLong
by LiveTradingBox
BANK NIFTY S/R for 16/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support. Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline. Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities. Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement. 20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend. Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
NSE:BANKNIFTY
by zenthosh
BANKNIFTY- Intraday Levels -16th July 2024if BANKNIFTY sustain above 52489 above this bullish 52782 to 52797 then 52906 to 52980 above this more bullish then 53234 to 53275 or 53401 to 53471 If BANKNIFTY sustain below 52420 then 52360 to 52299 below this bearish then 52068 to 51998 below this more bearish then 51877 to 51862 then 51577 to 51507 or 51425 to 51382 Consider some buffer points in above levels. Please do your due diligence before trading or investment. **Disclaimer -  I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk. Thank you.
NSE:BANKNIFTY
by PrashantTaralkar
BANK NIFTY INTRADAY LEVELS FOR 15 JULY 2024BUY ABOVE - 52400 SL - 52200 TARGETS - 52620,52800,53000 SELL BELOW - 52200 SL - 52400 TARGETS - 52000,51740,51510 NO TRADE ZONE - 52200 to 52400 Previous Day High - 52800 Previous Day Low - 52200 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 :Strategies for 15-Jul-2024On the previous trading day, the Nifty Bank Index showed a steady rise, closing at 52,339.50 with significant resistance levels ahead. The chart highlights key zones: the Profit Booking Zone, Resistance for new High, Opening Support, and Buyer's Support. Trading Plan for 15-Jul-2024: 1. Gap Up Opening (200+ points above the previous close): Opening above 52,547.50: - If the index opens above this level, expect an immediate attempt to test the Resistance for new High at 52,845.40. - Strategy: Buy at opening with a target of 52,845.40. Place a stop loss at 52,403.70 (Opening Support level). - If it breaks and sustains above 52,845.40, aim for the next target at 53,150.00. Adjust the stop loss to 52,800.00. Opening above 52,845.40: - If the index opens above this resistance, anticipate a potential move towards 53,150.00. - Strategy: Buy at opening with a target of 53,150.00. Place a stop loss at 52,745.00. - If the momentum continues, look for the next target at 53,255.00 and adjust the stop loss to 53,000.00. Opening between 52,547.50 and 52,845.40: - Watch for price action and volume to determine direction. - Strategy: Buy above 52,845.40 with targets of 53,150.00 and 53,255.00, using a stop loss at 52,745.00. - If resistance holds, consider selling with a target of 52,403.70 and a stop loss at 52,900.00. 2. Flat Opening (within +/- 50 points of the previous close): Opening near 52,339.50: - Monitor for a direction confirmation. Key levels to watch are 52,403.70 (upside) and 52,252.00 (downside). - Strategy: Buy on breakout above 52,403.70 with targets of 52,845.40 and 53,150.00, using a stop loss at 52,300.00. - If it breaks below 52,252.00, short with targets of 51,972.00 and 51,589.00, using a stop loss at 52,300.00. 3. Gap Down Opening (200+ points below the previous close): Opening below 52,139.50: - If the index opens below this level, expect a test of the Buyer's Support at 51,972.00. - Strategy: Sell at opening with a target of 51,972.00. Place a stop loss at 52,252.00. - If it breaks and sustains below 51,972.00, aim for the next target at 51,589.00. Adjust the stop loss to 52,000.00. Opening between 52,139.50 and 51,972.00: - Watch for price action and volume to determine direction. - Strategy: Sell on breakdown below 51,972.00 with targets of 51,589.00 and 51,400.00, using a stop loss at 52,000.00. - If support holds, consider buying with a target of 52,403.70 and a stop loss at 51,800.00. Summary and Conclusion: - **Gap Up:** Look for buying opportunities with targets of 52,845.40, 53,150.00, and 53,255.00. Adjust stop losses based on breakout levels. - **Flat Opening:** Be prepared for both buying and selling scenarios based on breakouts from 52,403.70 (upside) or 52,252.00 (downside). - **Gap Down:** Focus on selling opportunities with targets of 51,972.00 and 51,589.00. Adjust stop losses based on breakdown levels. Disclaimer: I am not a SEBI registered analyst. The above plan is for educational purposes only. Please do your own research or consult with a professional before making any trading decisions.
NSE:BANKNIFTYLong
by LiveTradingBox
BANKNIFTY- Intraday Levels -15th July 2024if BANKNIFTY sustain above 52328 then 52489 to 52560 then above this bullish then 52735 to 52792 or 52850 above this more Bullish then 52980 then 53082 to 53140 then 53225 to 53275 If BANKNIFTY sustain below 52220 below this bearish then 52038 to 51952 then 51748 to 51690 below this more bearish then 51507 to 51400 Consider some buffer points in above levels. Please do your due diligence before trading or investment. **Disclaimer -  I am not a SEBI registered analyst or advisor. I does not represent or endorse the accuracy or reliability of any information, conversation, or content. Stock trading is inherently risky and the users agree to assume complete and full responsibility for the outcomes of all trading decisions that they make, including but not limited to loss of capital. None of these communications should be construed as an offer to buy or sell securities, nor advice to do so. The users understands and acknowledges that there is a very high risk involved in trading securities. By using this information, the user agrees that use of this information is entirely at their own risk. Thank you.
NSE:BANKNIFTY
by PrashantTaralkar
BANK NIFTY S/R for 15/7/24Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support. Support levels are represented by the green line and green shade, indicating areas where buying interest may emerge to prevent further price decline. Resistance levels are represented by the red line and red shade, indicating areas where selling pressure may arise to prevent further price increases. Traders often consider these levels as potential buying or selling opportunities. Breakouts: Breakouts occur when the price convincingly moves above a resistance level (red shade) or below a support level (green shade). A bullish breakout above resistance suggests the potential for further price increases, while a bearish breakout below support suggests the potential for further price declines. Traders pay attention to these breakout signals as they may indicate the start of a new trend or significant price movement. 20 EMA: The yellow line denotes 20 EMA, to interpret the 20 EMA, you need to compare it with the prevailing stock price. If the stock price is below the 20 EMA, it signals a possible downtrend. But if the stock price is above the 20 EMA, it signals a possible uptrend. Disclosure: I am not SEBI registered. The information provided here is for learning purposes only and should not be interpreted as financial advice. It is important to consult with a qualified financial advisor before making any investment decisions. Tweets neither advice nor endorsement.
NSE:BANKNIFTY
by zenthosh
The last Resort!The role of the Central Bank is always in the nature of last resort. We have our own inflation report later. No way one can extrapolate global softer tone to our own. We are different this time too! or otherwise is the curious thing to watch. Concerns continue to mount on the asset class that everybody crowding in, the exposure by the retail, the increasing cases, the social media. The measures come thankfully in much more broadcasted and staggered way. Nothing unusual in the end, this has happened before and is quite normal, in the short term it can have impact on the liquidity on those select places. A healthy unwind. RBI cautions, higher for longer, Dollar Rate cuts noise gallop post the inflation report, nothing is going to materialise, other than the usual third quarter reports showing next year huge rates cuts. Annual event. This one is far healthier than many sectors however, near term victim of broader market moves. The fall intra-day and the rise above is the proof. Still opens up a small window to see the yesterday low. However, a move past 52600 blunts that probability. Support 52100-51800-51600 Supply 52400-52650-52800
NSE:BANKNIFTY
by sreebhashyam
BANKNIFTY - Trading Levels and Plan for 12-Jul-2024The Nifty Bank Index exhibited notable volatility on the previous trading day, with price movements reflecting a mix of bullish and bearish sentiments. Key levels, including opening support/resistance and buyer's support zones, were tested multiple times, providing crucial insights into market behavior. **Trading Plan for 12-Jul-2024:** **Gap Up Opening (200+ points):** If the index opens above 52,577.00, anticipate a bullish continuation towards the extended profit booking level at 52,925.00. Monitor the price action around 52,862.00, as this is a critical sideways to profit booking zone. Consider booking partial profits here. If the index sustains above 52,925.00, aim for higher targets and trail stop-losses to secure gains. **Flat Opening:** If the index opens around 52,305.65, assess the price action to identify initial market sentiment. Look for support around 52,305.65. A bounce from this level could lead to a move towards the opening resistance at 52,577.00. If the price breaks above 52,577.00 with strong volume, consider entering a long position targeting 52,736.00 and 52,862.00. **Gap Down Opening (200+ points):** If the index opens below 52,091.05, watch for support around 52,044.00. A strong rebound from 52,044.00 could signal buying interest, targeting 52,305.65 as a key resistance level. If the index fails to hold 52,044.00, look for the next support at 51,874.00. Consider short positions with a target towards 51,652.00 if bearish momentum persists. **Summary and Conclusion:** - The Nifty Bank Index is at a crucial juncture, with key support and resistance levels in close proximity. - For a bullish outlook, focus on maintaining levels above 52,577.00 and target the extended profit booking zone at 52,925.00. - For a bearish scenario, a gap-down opening below 52,091.05 could lead to further downside towards 51,874.00 and 51,652.00. - Stay vigilant and adapt to market movements, keeping an eye on volume and price action to confirm trade entries. **Disclaimer:** I am not a SEBI registered analyst. This trading plan is for educational purposes only and should not be considered as financial advice. Please do your own research before making any trading decisions. --- This plan offers a structured approach for different opening scenarios on 12-Jul-2024, helping traders navigate the Nifty Bank Index with clear entry and exit points based on key support and resistance levels.
NSE:BANKNIFTYLong
by LiveTradingBox
BANK NIFTY INTRADAY LEVELS FOR 12/07/2024BUY ABOVE - 52400 SL - 52200 TARGETS - 52620,52800,53000 SELL BELOW - 52200 SL - 52400 TARGETS - 52000,51740,51510 NO TRADE ZONE - 52200 to 52400 Previous Day High - 52400 Previous Day Low - 51740 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