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Banknifty Intraday levels 18/082023Hello Traders. Yesterday we did not seen attractive hero zero trade in nifty and banknifty, even from last one month we did not seen any best expiry special trade, but do not worry we are doing good in other day. So, lets focus on today's scenario,,Well Global market again looking mixed to bearish view. Gift Nifty also giving indication of negative opening, We are seeing Head and Shoulder Pattern in nifty and banknifty both but as of now we have not seenn neckline breakdown. so we will wait for the confirmation. Banknifty has strong support zone at 43600-43700, if this gets break successfully, then we can see down levels. Important levels for banknifty:- Buy above 43923, if levels sustains at least for 30 mints. Targets we can see in upside 44067/44157++ Keep stop loss at 43740. Sale below 43740, if levels sustains at least for 30 mints. Targets we can see in downside 43594/43412-- Keep stop loss at 43923. Note:- Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:BANKNIFTY
by TraderRahulPal
Sensex Analysis for 16-08-2024: Support & Resistance LevelsOn August 14, 2024, the Sensex experienced a volatile trading session, closing at 78,956.03, down 692.89 points (-0.87%). The day saw the index opening at 79,105.88, with an intraday high of 79,228.94 and a low of 78,895.72. This decline was largely driven by profit booking and global market cues, with the index forming a long bearish candlestick, indicating potential further downside. Impact of Gap Up As of August 16, 2024, Gift Nifty is showing positive momentum with an opening around 24,324, reflecting a gain of approximately 156 points (+0.65%) from the previous session. This movement is underpinned by favorable global cues and expectations of a stable economic environment following recent macroeconomic data. Key Technical Levels: Support Levels: 24,100 and 23,900 Resistance Levels: 24,450 and 24,600 Technical Indicators for Sensex: Max Pain: 79,100 PCR (Put-Call Ratio): 0.70 Neutral to Bearish IV (Implied Volatility): 13.03 as of the closing on 14-08-2024. Support Levels Sensex is expected to remain under pressure with key support levels around 79,000 and 78,600. Resistance Levels If the index sustains above these levels, a pullback towards the resistance levels of 79,600 and 79,800 is possible. The Sensex displayed mixed signals with technical indicators favoring a cautious stance: RSI (14) at 42.33 indicates a sell signal, suggesting the index is neither oversold nor overbought. MACD showed a negative divergence, reinforcing the sell signal. Top Gainers: Reliance Industries: Increased by 2.3%, closing at ₹2,650. Tata Motors: Gained 1.9%, closing at ₹685. HDFC Bank: Rose by 1.6%, closing at ₹1,670. Top Losers: Infosys: Fell by 1.8%, closing at ₹1,440. ITC: Decreased by 1.5%, closing at ₹452. TCS: Dropped by 1.2%, closing at ₹3,240. Open Interest (OI) Analysis and Technical Indicators: OI data indicated a buildup in call options at the 79,500 strike, hinting at significant resistance at this level. Conversely, the 78,500-strike price saw substantial put writing, reinforcing it as a critical support level. Bullish/Bearish Levels Bullish Level: 79,600 If sustains Bearish Level: 78,400 If Fails Stay tuned for more updates on Sensex prediction to navigate the volatile market conditions effectively. Disclosure: The publisher of this idea is not a SEBI registered analyst. The information shared here is solely for educational purposes and should not be interpreted as financial advice. Always consult with a qualified financial advisor before making any investment decisions. The publisher does not endorse social media shares on any platform.
BSE:SENSEX
by shvishal