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Bankniftyanalysis

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
Banknifty Intraday (04-Jul-2024)Chart for the Nifty Bank Index on a 15-minute timeframe for July 4th includes the following key changes and details: -Buy Above 53250 with a target of 53600+. -Sell Below 52800 with a target of 52400-. -Current price remains around 53042.15. Key support and resistance levels: -Resistance around 53213.55. -Support around 52810.25 and 52395.60. The 20-period Exponential Moving Average (EMA) is displayed at 53020.90. This chart provides updated trading levels for entering buy or sell positions, adjusting the targets based on the latest price movements and technical analysis.
NSE:BANKNIFTY
by Praveenmor7
Banknifty Intraday (02-Jul-2024)An intraday trading chart for the Bank Nifty Index dated July 2nd, captured in 15-minute intervals. Here are the specific elements depicted in the chart: Candlestick Format: The chart uses candlestick bars to display price movements within each 15-minute period, indicating the open, high, low, and close prices. Exponential Moving Average (EMA): There is a blue line representing the 20-period EMA, which helps in identifying the trend's direction and acts as a dynamic level of support and resistance. Trading Signals: -Buy Signal: Marked by a green arrow, it suggests buying if the Bank Nifty exceeds 52,700, with a potential target of 53,000 or higher. -Sell Signal: Indicated by a red arrow, recommending selling if the index falls below 52,400, aiming for a target of around 52,100. Technical Analysis Overview: The chart details the intraday price action of the Bank Nifty index, illustrating a momentary downward trend followed by a recovery that aligns with the 20-period EMA. Trading suggestions are based on breaks from significant price levels denoted by the dashed lines, likely serving as psychological barriers or pivot points.
NSE:BANKNIFTY
by Praveenmor7
Banknifty Intraday (01-7-2024)Date and Time: The chart is labeled "01-Jul (Intraday)" for intraday trading on July 1, 2024. Candlestick Bars: Each bar represents a 15-minute trading interval showing the open, high, low, and close prices. Technical Indicators: -Exponential Moving Average (EMA): A blue line shows the 20-period EMA used to determine the trend's direction. It acts as dynamic support and resistance. Annotations: -A green arrow indicating a buy signal if the price moves above 52,500, with a target (Tgt) of 52,750 or higher. -A red arrow indicating a sell signal if the price falls below 52,150, with a target of 51,800 or lower. -Support and Resistance Levels: Dashed lines indicate significant levels, likely acting as psychological barriers or points where significant buying or selling has occurred. This setup is typical for traders who use technical analysis to predict short-term price movements based on historical price patterns and trading volumes.
NSE:BANKNIFTY
by Praveenmor7
BankNifty Levels For 01/07/24According to the research i've done, market is most likely to open upside and go up as market has the support of supertrend along with RSI under 20, but in other situations If it comes downside It will have to suffer through a great support of level 51950 - 52000, if it breaks down this support it can go further downside. The other scenario can be that the market touches 53200 and comes back downisde, with the highest chances of happening, in the last scenario it can break through 53200 and go further upside till 53500 or even 54000. Hope It Helps :)
NSE:BANKNIFTY
by CKartikeyYT
Banknifty Intraday (27-Jun)Bank Nifty 15-Minute Intraday Chart for 27 June Key Levels: Buy Above 53,000: Target: 53,250+ Indicates a bullish signal if the price breaks above 53,000. Sell Below 52,400: Target: 52,000- Indicates a bearish signal if the price drops below 52,400. Observations: The chart includes a 20-period Exponential Moving Average (EMA), marked at 52,793.70. Current price: 52,694.50 (as of the chart time). Resistance Level: 52,964.80. Support Levels: 52,395.60 and 52,014.25. A "No Trade Zone" is marked in the chart, indicating a range where trading is not recommended. Trading Strategy: Buy Strategy: -Enter a long position if the price breaks above 53,000. -Target a move to at least 53,250 or higher. Sell Strategy: -Enter a short position if the price drops below 52,400. -Target a move to at least 52,000 or lower. This concise overview can help traders quickly understand the important levels and potential trade opportunities for Bank Nifty on 27 June. If you need any further details or adjustments, please let me know!
NSE:BANKNIFTY
by Praveenmor7
Banknifty Intraday (26-06-2024)Price Levels: The Bank Nifty is trading at 52,630.15, with the high and low for the session being 52,746.50 and 52,599.25, respectively. Exponential Moving Average (EMA): A 20-period EMA is plotted on the chart with a value of 52,387.34. Support and Resistance Levels: The chart displays several horizontal lines indicating key levels: 52,671.65 52,500.75 52,028.45 Trading Signals: Buy Signal: "Buy Above 52,800; Target 53,250+" indicated by a green arrow pointing upward. Sell Signal: "Sell Below 52,450; Target 52,000-" indicated by a red arrow pointing downward. No Trade Zone: A highlighted area labeled "No Trade Zone" between the levels of 52,500.75 and 52,671.65 suggests that no trades should be taken within this range. The chart is likely used for intraday trading strategies, providing specific levels to enter buy or sell positions based on the Bank Nifty's price movements.
NSE:BANKNIFTY
by Praveenmor7
Banknifty Intraday (25-06-2024)Bank Nifty 15-Minute Intraday Chart for 25 June Key Levels: Buy Above 51,824: Target: 52,000+ Indicates a bullish signal if the price breaks above 51,824. Sell Below 51,550: Target: 51,250+ Indicates a bearish signal if the price drops below 51,550. Observations: -The chart includes a 20-period Exponential Moving Average (EMA), marked at 51,626.06. -Current price: 51,709.65 (as of the chart time). -Resistance Level: 51,817.85. -Support Levels: 51,287.35 and 50,253.95. Trading Strategy: Buy Strategy: -Enter a long position if the price breaks above 51,824. -Target a move to at least 52,000 or higher. Sell Strategy: -Enter a short position if the price drops below 51,550. -Target a move to at least 51,250 or lower. This concise overview can help traders quickly understand the important levels and potential trade opportunities for Bank Nifty on 25 June.
NSE:BANKNIFTY
by Praveenmor7
Nifty Bank (BANKNIFTY) Targets post election 2024The chart provided is of the Nifty Bank Index on the 4-hour timeframe from NSE, created using TradingView. Here is a detailed analysis and summary: Trend and Channel Analysis: 1. Ascending Channel: The chart shows the Nifty Bank Index moving within an ascending channel, bounded by two parallel trend lines. 2. Support and Resistance: The lower trend line acts as support, while the upper trend line acts as resistance. The price has bounced off the lower trend line multiple times, indicating strong support. Fibonacci Retracement Levels: The Fibonacci retracement levels are drawn from a recent swing low to a swing high, showing key levels of potential support and resistance. 1. 0% Level (48,333.10): The starting point of the retracement. 2. 50% Level (49,682.25): Often considered a strong support/resistance level. 3. 61.8% Level (50,000.70): Known as the golden ratio, it is a significant level where price action often finds support or resistance. 4. 100% Level (51,031.45): The end point of the retracement. Key Levels and Potential Targets: 1. Current Price: The current price is 48,967.95, slightly below the 50% Fibonacci level of 49,682.25. 2. Immediate Support: Around 48,333.10 (0% Fibonacci level). 3. Immediate Resistance: Around 49,682.25 (50% Fibonacci level). 4. Next Key Resistance: Around 50,000.70 (61.8% Fibonacci level). 5. Further Resistance: Around 51,031.45 (100% Fibonacci level). Future Projections: 1. Upside Potential: If the price breaks above the 50% Fibonacci level (49,682.25), the next target could be the 61.8% Fibonacci level (50,000.70), followed by the 100% Fibonacci level (51,031.45). 2. Downside Risk: If the price falls below the current level, it may find support at the 0% Fibonacci level (48,333.10). Other Observations: 1. Volume and Momentum: Volume and other momentum indicators (not shown in the chart) would be helpful to confirm the strength of the trend. 2. Candlestick Patterns: Analysis of recent candlestick patterns could provide additional insights into market sentiment and potential reversals. Summary: - The Nifty Bank Index is currently in an ascending channel with key support and resistance levels defined by Fibonacci retracement. - The price is slightly below the 50% retracement level, suggesting potential resistance. - Breaking above this level could lead to further gains towards 50,000.70 and 51,031.45. - Conversely, if the price falls, it may find support around 48,333.10. Monitoring the price action around these key Fibonacci levels and the channel boundaries will be crucial for identifying potential trading opportunities.
NSE:BANKNIFTYLong
by The90sTraderOfficial
Nifty Bank Index - BANKNIFTYThe chart depicts the 4-hour price movement of the Nifty Bank Index on the NSE. Here is an analysis and summary: Analysis: 1. Possible Double Top: The chart indicates a potential double top pattern around the 49,300 level, which is a bearish reversal signal. 2. Current Price Movement: The price has recently declined from the double-top region, suggesting a potential pullback. 3. Support Levels: - 50% Retracement: The price might find support around the 48,590 level, which is the 50% Fibonacci retracement level. - 61.8% Retracement: A stronger support is expected around the 48,320 level, the 61.8% Fibonacci retracement level. 4. Target: - If the index respects these retracement levels and rebounds, the 100% target is projected at 50,500, suggesting a potential uptrend continuation. Forecasted Movement: - Short-term: The price might continue to decline towards the 48,590 level, and possibly to the 48,320 level. - Reversal Potential: If the price finds support at these levels, a rebound is likely, leading to an upward movement towards the 50,500 target. - Bullish Scenario: The chart shows a potential bullish scenario if the support levels hold, leading to a rise back towards and possibly beyond the recent highs. Summary: The Nifty Bank Index chart shows a potential double top formation indicating a bearish reversal. However, if the index finds support at the 50% (48,590) or 61.8% (48,320) Fibonacci retracement levels, there is a potential for a bullish reversal aiming for the 50,500 target. It is crucial to monitor these support levels for potential buying opportunities and confirmation of the upward trend resumption.
NSE:BANKNIFTYShort
by The90sTraderOfficial