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Bankniftytrading

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 AnalysisHere’s a summary of the key points and analysis: Trend Analysis: The chart shows a previous bearish trend that appears to be reversing or entering a consolidation phase. There are multiple points marked as "BOS" (Break of Structure), indicating changes in market direction. The recent candles indicate a potential uptrend with higher lows being formed. Fibonacci Retracement: Fibonacci levels are drawn from a recent low to a recent high, showing key levels of potential support and resistance. The 0.5 (51,479.30) and 0.618 (51,723.25) Fibonacci levels are crucial as they often act as significant support/resistance areas. The price currently seems to be testing the area between the 0.5 and 0.618 levels. Projected Move: The chart outlines a bullish scenario with price expected to move higher, potentially reaching the 1.618 Fibonacci extension level at 53,790.75. This projection is based on a strong break above the current resistance zones. Resistance and Support Zones: There are highlighted red zones which indicate strong resistance levels around 52,500 and above. A blue zone near 50,445.55 marks a significant support level, which could act as a floor if the price pulls back. Price Action Expectations: The chart suggests that if the price successfully breaks above the current resistance, it might target higher levels towards 52,513.05 initially and further up to the 1.618 extension level. However, failure to maintain this upward momentum could see the price revisiting lower support levels. This analysis outlines a bullish outlook with key levels to watch for both potential resistance and support. The price action around the Fibonacci levels will be crucial in determining the next significant move for the Nifty Bank Index.
NSE:BANKNIFTYLong
by The90sTraderOfficial
Bank Nifty Podcast 27 Aug 2024Took two trades today. 1st trade was taken with 50% risk which means instead of max loss of 1000, I took only 1 lot with 500 risk. The 50% risk was taken because OI data was completely positive and 4 departments were "Bullish". 2nd trade was taken with maximum conviction as the data was positive and 4 departments were "Bullish", but looks like Bank Nifty had some other plans. The market remained sideways for sometime which resulted in decay in the premiums. Notes: - Never take any trade even with 50% risk, because sometimes "No trade is also good trade" - 2nd trade should have been taken with debit spread as next day is expiry and already Bank Nifty had moved more than 200 points.
NSE:BANKNIFTY
by gupshupblog
Bank Nifty Podcast 23 Aug 2024Total three trades were taken . 1st trade was taken on 5minute timeframe when the candle reverses from the OI line and closed with 1:1 Target 2nd trade was taken on Podcast Setup , closed the trade with stoploss. Although the OI data was positive, but the 4 department was neutral, where 2 department was showing Bullish and 2 department was showing bearish. 3rs trade was again taken on Podcast setup and closed with 1:1 target. Notes: - There were 3 trades based on 5minute timeframe from the OI line 51000, but I took only the one before 10AM.
NSE:BANKNIFTYShort
by gupshupblog
[INTRADAY] #BANKNIFTY PE & CE Levels(22/08/2024)🔔 Bank Nifty Update for Today: 📈 Gap-Up Opening Expected: Expected Opening Level: Near 51000 Initial Bullish Level: Above 51050 Primary Upside Target: 51450+ Extended Upside Target: 51950+ Bank Nifty is expected to open with a gap up near the 51000 level today. If the index starts trading above 51050 after opening, we could see a strong bullish rally, potentially driving the market towards the 51450 target. Should Bank Nifty break through the 51550 level, this rally might extend further, reaching up to 51950 or more. 📉 Watch for Downside Risks: Critical Reversal Level: 50950 Strong Support Level: 50550 However, if Bank Nifty trades below 50950, downside movement could be possible. The 50550 level will serve as a strong support for today's session.
NSE:BANKNIFTY
by TradZoo
BANKNIFTY Podcast 21 Aug 2024Totally two trades taken. First was based on Gap Up/Down Strategy, it didn't hit the 1:1 target, however I noticed another podcast trade and entered with the same PE and closed both the trades. Notes: - Since today was expiry of BankNifty, if Credit Spread was taken on the first trade itself, the profits would've been achieved even if it didn't the 1:1 Target - After the second trade, there was another trade which was being setup, but since the OI data was negative, so didn't give much attention. Although based on the setup, I could've taken with 50% risk with Credit Spread ;)
NSE:BANKNIFTYShort
by gupshupblog
Banknifty_Intraday (11-0Jul-2024)The image displays a 30-minute intraday chart for the Bank Nifty index. Here are the key details: Date: The data is for July 11, 2024. Index Levels: The Bank Nifty index is shown at a closing price of 52,217.30, up by 42.90 points. Technical Analysis Features: EMA: The chart includes a 20-period Exponential Moving Average (EMA) shown at 52,266.22. Fibonacci Retracement Levels: Notable Fibonacci retracement levels from recent peaks and troughs are marked, with specific levels labeled such as 0.751, 0.799, 0.94, and 1.003. Trading Signals: -Buy Signal: A green arrow suggests buying above 52,350 with a target of 53,700+. -Sell Signal: A red arrow indicates selling below 52,000 with a target of 52,000 or lower.
NSE:BANKNIFTY
by Praveenmor7
banknifty Intraday (10-Jul-2024)The image displays a chart for the Nifty 50 index from the National Stock Exchange of India, showing intraday movements on a 15-minute time frame. The chart includes details such as: Index Information: The Nifty 50 Index is shown at various prices, with the current price being 24,417.25, down by 16.80 points. Technical Analysis: There's a 20-period Exponential Moving Average (EMA) indicated at 24,401.59. Trading Recommendations: -Buy Signal: A green arrow points upwards with a note to "Buy Above 24450" targeting an open position above 24,550. -Sell Signal: A red arrow points downwards suggesting to "Sell Below 24375" with a target (Tgt) of 24,275 or lower.
NSE:BANKNIFTY
by Praveenmor7
Banknifty Intraday (09-Jul-2024)Description: Join us for intraday trading analysis on BANKNIFTY. We've marked significant buy and sell targets based on the latest price movements and EMA trends. Buy Signal: If BANKNIFTY breaks above 52,700, consider going long with a target of 53,200+. This is indicated by the potential support break and bullish momentum. Sell Signal: Alternatively, a move below 52,275 could signal a selling opportunity, aiming for a target just below 52,000. Chart Details: -Time Frame: 15 minutes -Indicator: 20-period Exponential Moving Average (EMA) Trading Strategy: The strategy revolves around the key psychological levels marked on the chart. We recommend setting tight stop-loss orders to manage risk effectively. Disclaimer: Trading involves risk and is not suitable for all investors. Please perform your own due diligence before making any trading decisions.
NSE:BANKNIFTY
by Praveenmor7
Banknifty Intraday (08-Jul-2024)The chart you provided is a 15-minute intraday chart for Bank Nifty with trading levels and strategies for July 8th. Here’s a breakdown of the key points on the chart: Buy Signal: -Buy above 52800 -Target: 53200+ Indicated by a green arrow pointing upwards. Sell Signal: -Sell below 52400 -Target: 52000- -Indicated by a red arrow pointing downwards. Resistance Levels: -Around 53,213.55 -Around 53,100.00 Support Levels: -Around 52,587.14 (EMA 20 close) -Around 52,810.25 -Around 52,395.60 -Around 52,015.85 Current Price: Bank Nifty is at 52,633.15, showing a slight decrease (-0.10%).
NSE:BANKNIFTY
by Praveenmor7
Banknifty Intraday (05-Jul-2024)-Date and Time: The chart covers intraday trading for July 3 and July 4, 2024. -Price Data: It displays open, high, low, and close prices for each 15-minute interval. -Exponential Moving Average (EMA): A 20-period EMA is plotted, which helps to determine the trend direction over these periods. Trading Instructions: -Buy Signal: An instruction to buy above 53,250 with a target of 53,600 or more. -Sell Signal: An instruction to sell below 52,800 with a target of 52,400. The annotations and arrows help to visually guide a trader on potential entry points for buying or selling based on the specified price levels.
NSE:BANKNIFTY
by Praveenmor7