Caught in a tight zone Bank Nifty is stuck in a difficult zone from where it has a lot more to fall than NIFTY before we can say it's with the bears.
Bankniftyview
Ritual pendingIf the ritual we mentioned yesterday plays out, a PUT buy in Bank nifty could be the trade of the year. But again Bank Nifty is also at a crucial FVG level. And to the bottom of the channel, it has a long way to go.
Bulls on slippery slope. The last time Bank Nifty tried going up without testing the bottom of this channel was in Jan 2024. Look at what happened then. We opened to a large Gap down and completed the ritual. That ritual is pending in Bank Nifty. If that is the case, we will see a sting into the bottom before we continue higher.
Limited up side Bank Nifty again is more resilient than NIFTY. It is seen respecting the Daily FVG and looks ready consolidate with a positive bias. Just the hammer created on the top of a rally caps the up side. Hope sellers take a breather before they swing back into action.
Battle of StraddlesThe FVG has been respected and this implies we are ready to fly. All will depend on the nerves of 49500 straddle writers. What steel their nerves are made of. If they run, Bank nifty runs to 50k. Now 50K is a psycho level and so are the sellers there. Overall I am bullish.
Bigger the consolidation better the breakout #BankNiftyBank Nifty was in a uptrend channel on 3hrs Chart / after good consolidation know Breakdown / Bank Nifty almost 5% down from the peak. if bank nifty behave sideways for a week and invite sellers then uptrend will continue. Market is supreme . Plan your trade as per Behaviour.
Only for educational purposes .
Was never with the bears.Bank Nifty was never bearish the whole time. There is every possibility that 49300 will be protected this week. Every dip in the morning should be seen as a chance to buy calls. Unless some extraordinary selling comes in the market, Bank Nifty should either consolidate or fly. The only negative is the bearish day candle formed yesterday. The top of which will be the SL for Call writers.
BANKNIFTY Short Looks Good HereKarma Oscillator turns red which confirms the potential movement.
Price crosses below the Astra line.
Bank Nifty Short TermPlease note : Bank nifty has given cup and handle pattern breakout. There is a high probability that 53300 level can be achieved. Subject to 48000 level is not broken.
DISCLAIMER : THIS IS FOR EDUCTIONAL PURPOSE ONLY
banknifty banknifty after breakout all timr high its rally going 4.70 percentage so 51000 banknifty reach chance
Now what ?Bank nifty in in no man's land. The close of tomorrow's candle will give us some level to mark. There seems to be decent absorption at 49580. But how strong these shorters are will be have to be seen tomorrow. Ideally a HANDLE will have to be formed for a healthy up move. Now, how big a handle?
KOTAK Bank is going to blast Upside !! Kotak Bank is around Long term Support !!
Stock is consolidating since 2020 and has given No returns so far
In a rangebound market one should always Buy around the support !!
Stock is forming base around 1600-1650 level.
Also Stock is around EMA support and on RSI Support on a Weekly Timeframe
All these indicating Technically Stock is at good Support
Disclaimer : We are not SEBI registered analyst. Do your own research before taking any investment decision.
Never turned to Bears!Bank Nifty in fact never turned bearish. Also the sellers who are at 49000 do not seem as strong as the ones at 22800 for Nifty. On the whole, looks like if the market flies to the moon, Bank Nifty could land in Mars.
Banknifty Intraday Levels : 29-Apr-24Banknifty closed below earlier supply zone & taken Trendline support so wait for Breakout or rejections at zones
Bullish > 48570
Bearish< 48050
All views for Educational Purpose do your own analysis before initiate trades.
The real hammerThe real hammer happened in BNF spot. And BNF never crossed over to the bearish territory. It s time to go retest the previous high Unless the Mauritius guys re waiting to sell at a better price.
Half full or half empty ?Bank nifty on the other hand has to move up a little lesser than nifty and close the day to stay UN bearish in the larger view. But when I look at it through a bear's lens, this is more of a larger stretch of plain slope for the lady to slide down. SHort SHort SHort. .... Unless KOTAK bhai or LIC bhai is ready with BUY's.
Bank NiftyPair : Bank Nifty
Description :
Impulse Correction
Bullish Channel as an Corrective Pattern in Short Time Frame
Break of Structure
RSI - Divergence
Completed " 12345 " Impulsive Waves
Weekly close becomes crucial Weekly close above this level becomes curcial. There will have to be some deep pockets that come it and take it higher. Which seems unlikely.
10 APRIL 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open gap down
Focus to buy above 48500 if sustain above 48400 focus for short selling
After A gap down opening if Banknifty sustains Above 48600 and takes Support from 48600 then open target for T1-48700, T2-48800,T3-49000
If the Banknifty gap down opening sustains Below 48400 and takes resistance below 48400 then the open Targets for T1-48300, T2-48200,T3-48100
Major Levels 48500,48600,48800
If the market stands in this area of 48600 to 48800 then it is possible that even today the market will remain in the range.
Bank Nifty Index: Will 48600 Level Hold for Weekly expiry?Today, on the 9th of April 2024, the Bank Nifty Index displayed notable price movements, reaching an intraday high of 48960.75 and a low of 48621.85. This suggests that the 48600 level is serving as a robust support. However, the crucial question remains: will this level maintain its strength leading up to tomorrow's weekly expiry (10th of April 2024)?
To delve into this inquiry, we must scrutinize the 48600 put option. As of the time of writing this post, the put option reached an intraday high of 206.40 and a low of 62.60. Notably, as long as this put option remains above 6.60, its probability of expiring in the money remains significantly high. Conversely, if it drops below 6.60, the likelihood of expiring in the money diminishes close to zero.
In conclusion, the analysis of the 48600 put option sheds light on the potential stability of the 48600 level as a support going into the Bank Nifty Index options weekly expiry tomorrow.
What a stop!At least Bank Nifty is listening to me. It did stop indeed. Now let us see how bullish the bullish of bulls are on Indian Banks and their short-term growth prospects. No one is accumulating HDFC at least as expected. Fresh buyers have to come in and buy some banks take it higher.
BankNiftyBank Nifty Daily Chart breakout with symmetrical triangle Pattern buy bank sector stocks & bank nifty 1Target 50,000 2Target 55,000.
[INTRADAY] #BANKNIFTY PE & CE Levels(21/03/2024) Today will be gap up opening in BANKNIFTY. After opening if banknifty sustain above 46550 level then possible upside rally of 400-500 points upto 46950 level in todays session.Any Major downside only expected in case banknifty starts trading below 46450 level to 46050 level.also possible reversal upside 46050 level.
