BANKNIFTY--Support becomes Resistance??Bank nifty index taken multiple times support from the zone 45600-45400.
if this acts as resistance again bearishness will continue to downwards.
on top we have a resistance in the form of trendline as well....
we have chance of consolidation between 45600-44100 levels before test this zone at 44100 levels...keep safe before going long from here...
Bankniftytradesetup
[INTRADAY] #BANKNIFTY PE & CE Levels(25/01/2024) Today will be gap up opening in BANKNIFTY. After opening if banknifty sustain above 45050 level then possible upside rally of 400-500 points upto 45450 level & this rally can extend another 400 points if market give breakout 45550 level.Any Major downside only expected in case banknifty starts trading below 44950 level.also possible reversal downside 45450 level.
25 JAN 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open gap down
After A gap down opening if Banknifty sustains Above 44800 and takes Support from 44800 then open target for T1-45200, T2-45300,T3-45500
If the Banknifty gap down opening sustains Below 44600 and takes resistance below 44600 then the open Targets for T1-44400, T2-44200,T3-44100
Major Levels 45000,45200,44800
If the market stands in this area of 45000 to 45200 then it is possible that even today the market will remain in the range.
BANK NIFTY INTRADAY LEVELS FOR 25/01/2024BUY ABOVE - 45110
SL - 44900
TARGETS - 45330,45500,45800
SELL BELOW - 44900
SL - 45110
TARGETS - 44700,44550,44390
NO TRADE ZONE - 44900 to 45110
Previous Day High - 45500
Previous Day Low - 44550
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 👍
BANKNIFTY--Case1 or Case2 ??BANKNIFTY is now at golden zone of fibonacci.
we have 2 possible cases here,
case1::
It may reverse from golden zone.
(or)
case2:: After strong bearishness today given some retracement, to enter short side continuation.
If price consolidates , price fall continue towards bullish gap on bottom side.
Keep safe here, volatility is more in this scenarios.
BANK NIFTY INTRADAY LEVELS FOR 24/01/2024BUY ABOVE - 46220
SL - 46000
TARGETS - 46500,46760,47000
SELL BELOW - 46000
SL - 46220
TARGETS - 45800,45580,45440
NO TRADE ZONE - 44900 to 45110
Previous Day High - 46580
Previous Day Low - 44900
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 👍
24 JAN 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open gap up
After A gap up opening if Banknifty sustains Above 45300 and takes Support from 45300 then open target for T1-45400, T2-45600,T3-45800
If the Banknifty gap up opening sustains Below 45200 and takes resistance below 45200 then the open Targets for T1-45000, T2-44900,T3-44800
Major Levels 45200,45000,45300
If the market stands in this area of 45000 to 45200 then it is possible that even today the market will remain in the range.
Bank Nifty: Rectangle Breakout signals potential UPSIDEOver the past few days, NSE:BANKNIFTY has experienced a downtrend, presenting an opportunity for traders to analyze a potential reversal through the formation of a rectangle pattern. The rectangle pattern is a horizontal consolidation pattern characterized by parallel support and resistance levels. It indicates a period of market indecision, where buyers and sellers are in a relative balance. The breakout has occurred above the neckline or resistance zone, suggesting a shift in market sentiment.
Breakout Confirmation: Traders should patiently wait for a clear breakout above the neckline or resistance zone. The breakout should be confirmed by the closing of a candle above this level, indicating a shift in market sentiment towards the bullish side.
Entry Point: Execute the trade on the day of the breakout, preferably after the closing price has convincingly breached the neckline. This ensures that the breakout is genuine and not a false signal.
Target Calculation: The target for the trade can be determined by measuring the distance between the low of the rectangle pattern and the neckline. This distance is then added to the breakout point, providing an estimate of the potential upward movement.
Retest Possibility: Be prepared for the possibility of a retest of the neckline after the initial breakout. This is a common occurrence, and traders should not be alarmed by a temporary pullback.
Risk Management:
Stop-Loss Placement : Mitigate potential losses by setting a stop-loss order below the neckline or the breakout point. The level of the stop-loss should be determined based on individual risk tolerance and the volatility of the asset.
Risk-Reward Ratio
: Evaluate the risk-reward ratio before entering the trade. Ensuring that potential profits outweigh potential losses is crucial for effective risk management.
[INTRADAY] #BANKNIFTY PE & CE Levels(23/01/2024) Today will be gap up opening in BANKNIFTY. After opening if banknifty sustain above 46050 level then possible upside rally of 400-500 points upto 46450 level & this rally can extend another 400 points if market gives breakout 46550 level.Any Major downside only expected in case banknifty starts trading below 45950 level.
23 JAN 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open gap up
After A gap up opening if Banknifty sustains Above 46200 and takes Support from 46200 then open target for T1-46400, T2-46600,T3-46800
If the Banknifty gap up opening sustains Below 46200 and takes resistance below 46200 then the open Targets for T1-46000, T2-45900,T3-45800
Major Levels 46200,46000,46400
If the market stands in this area of 46400 to 46200 then it is possible that even today the market will remain in the range.
BANK NIFTY INTRADAY LEVELS FOR 23/01/2023BUY ABOVE - 46220
SL - 46000
TARGETS - 46500,46760,47000
SELL BELOW - 46000
SL - 46220
TARGETS - 45800,45580,45440
NO TRADE ZONE - 46000 to 46220
Previous Day High - 46220
Previous Day Low - 45580
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 👍
BANK NIFTY INTRADAY LEVELS FOR 20/01/2024BUY ABOVE - 45800
SL - 46660
TARGETS - 46000,46220,46500
SELL BELOW - 45580
SL - 45650
TARGETS - 45440,45260,45090
NO TRADE ZONE - 45580 to 45800
Previous Day High - 46220
Previous Day Low - 45580
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 👍
BANK NIFTY:DOBLE BOTTOMOver the past few days, NSE:BANKNIFTY has been exhibiting a downtrend, indicating a bearish sentiment in the market. However, a notable development is the formation of a double bottom structure, which could potentially signal a reversal in the current trend.
The double bottom pattern is a bullish reversal pattern that typically occurs after a prolonged downtrend. It consists of two troughs or "bottoms" at approximately the same price level, separated by a peak or "neckline." In this case, traders are advised to observe the pattern for a potential breakout.
To initiate a trade based on this pattern, one should wait for a breakout and closing of a candle above the neckline. This breakout acts as a confirmation of the potential trend reversal. It is crucial to emphasize the importance of waiting for a candle close above the neckline to reduce the likelihood of a false signal.
The target for this trade is calculated by measuring the distance between the low of one bottom and the neckline. This distance is then projected upwards from the breakout point to estimate the potential upward move. Traders should keep in mind that the target is a theoretical projection and may be influenced by various market factors.
Additionally, it is common for the market to retest the breakout level after the initial breakout. Traders should be prepared for a retest and not be alarmed if the price revisits the neckline. The retest provides an opportunity to confirm the strength of the breakout and potentially add to the position.
Risk management is paramount in any trading strategy. Traders should determine their risk appetite and set a proper stop loss level. The stop loss should be placed below the second bottom or at a level that aligns with the trader's risk tolerance. This ensures that losses are controlled in case the trade does not unfold as anticipated.
In summary, the analysis suggests a potential opportunity for a bullish trade in Bank Nifty based on the double bottom pattern. However, traders should exercise caution, wait for a confirmed breakout, set realistic targets, and implement effective risk management to enhance the probability of a successful trade.
BANK NIFTY INTRADAY LEVELS FOR 19/01/2024BUY ABOVE - 45800
SL - 46660
TARGETS - 46000,46180,46340
SELL BELOW - 45490
SL - 45660
TARGETS - 45260,45090,44950
NO TRADE ZONE - 45490 to 45800
Previous Day High - 46180
Previous Day Low - 45490
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 👍
[INTRADAY] #BANKNIFTY PE & CE Levels(19/01/2024) Today will be gap up opening in BANKNIFTY. After opening if banknifty sustain above 45550 level then possible upside rally of 400-500 points upto 45950 level & this rally can extend another 400 points if market gives breakout 46050 level.Any Major downside only expected in case banknifty starts trading below 45450 level.
BANKNIFTY--Head & Shoulders Pattern??I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements.
------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further.
---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher.
If price breaks the support, we have a chance of filling the bullish gap, soo keep in shortside until it touches bullish gap and keep in short side until price is below right shoulder,if opens GapDown look for short when it comes back to right shoulder.
Take a look at these levels and trade accordingly. Recognizing and respecting these support and resistance levels can help traders make informed decisions and manage risk effectively. They serve as key reference points for technical analysis and are vital tools in successful trading strategies.
Trade safe...Thank you guys for your support
Nifty Bank for 18-01-2024NIFTY BANK
CMP 46064
We are assuming a gap down in today's session. Any break of 45500/45600 can break towards the level of 45000/44600
On an upside regain of 46000 and majorly above the level of 46500 from where it faced the major jerk can lead us to the upper side. Till then any upside will be considered as a sell on the rise.
BANK NIFTY INTRADAY LEVELS FOR 18/01/2024BUY ABOVE - 46260
SL - 46000
TARGETS - 46500,46760,47000
SELL BELOW - 46000
SL - 46200
TARGETS - 45800,45660,45490
NO TRADE ZONE - 46000 to 46260
Previous Day High - 47230
Previous Day Low - 46000
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 👍
BANKNIFTY // Where to Revert?www.tradingview.com
BANKNIFTY: After a great selling pressure and fall by more than 2000 points, BankNifty likely to revert from 44800 on Weekly Chart. It is creating a Cup & Handle Pattern which is a Bullish pattern however during making a Cup, it always goes down. There is an open gap between 45000-45500. During making the handle of the Cup, it will be filled. Hence it will satisfy the Gap theory as well. So, lets wait till it touches 44800 level on Weekly chart before entry to buy.
[INTRADAY] #BANKNIFTY PE & CE Levels(17/01/2024) Today will be gap down opening in BANKNIFTY. After opening if banknifty start trading below 47950 level then possible downside rally of 400-500 points upto 47550 Level in todays session.Any Major upside only expected in case banknifty starts trading above 48050 level to 48450 level.
BANK NIFTY INTRADAY LEVELS FOR 17/01/2024BUY ABOVE - 48200
SL - 48050
TARGETS - 48310,48440,48620
SELL BELOW - 48050
SL - 48200
TARGETS - 47880,47750,47650
NO TRADE ZONE - 48050 to 48310
Previous Day High - 48250
Previous Day Low - 47880
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 👍