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Bankniftyanalysis

BANKNIFTY--Inside Candle + Upside = Fall ??After Showing strong Bullish Pressure towards new ATH, price showing strong bearish pressure. price also forms a inside candle, and yesterday shows a strong bullish momentum again. if this bullish momentum sustains...or falls again. Considering that inside candle as consolidation at Previous ATH levels, and shows us a bullish momentum, so if we consider this as Bearish Pressure + Consolidation + Upside = Great fall. if we observe after breaking the trendline no retest is observed in higher timeframes, a strong bullish move is observed from 44700-44750 levels. if price failed to take the help of previous HH, and bottom side Demand fails, we can expect a strong fall. Will see what happens in live market... Thanks for your support.
NSE:BANKNIFTY
by IIT-Trader
4
BANKNIFTY--@Major Trendline Break ??Bank nifty index is again taking the support from the trendline and showing bullish pressure.. now the price is near its previous strong fall area. If this area pushes the price downwards price is again fall. If price breaks the trendline we have a strong support in the bottom side @44800... that will again push the price upside... So Until price breaks the trendline keep on buy side... will be on short side...if price breaks and retest the trendline. Will see in the next session what happens...
NSE:BANKNIFTY
by IIT-Trader
10
BANKNIFTY-- Double Top Formed??Bank nifty Index has formed a double top price has formed a double top, with a break of demand and price is retraced back to fall again. If price wants to fall from strong resistance area, tomorrow price will again test the strong resistance at 45900 level.keep on buyside until this area. we have a bearish Gap and Strong resistance. Until price fills these we can't be on bearish side... we have a trendline confirmation as well...price has taken the support from trendline multiple times, until price breaks the trendline and retest don't go for short side...
NSE:BANKNIFTY
by IIT-Trader
30
BANKNIFTY--Retracement or Fall ??Price broken the strong demand zone by opening gapdown, and starts consolidation immediately...at the end it tested the demand again. price exactly closed by testing the demand zone, if price wants to fall continuously, tomorrow again it opens down and fall to below levels. if price wants to give some retracement, it will again test the previous ATH level... where previously strong fall happens.... If tomorrow price opens below levels, will look for long in this place... previously multiple times price got rejected from this level. may acts as support....keep track this levels.... Today we will not get any entries on any side...it is in consolidation range, till the end. will see in the next session what happens.
NSE:BANKNIFTY
by IIT-Trader
35
BANKNIFTY--Which Breaks Demand or ATH ??Today's observations:: Price rapidly falls from the 46300 levels. Price may again test the ATH, so don't go for short immediately. based on the opening will again look for buy or short. Key level to watch is previous ATH, that is the level that can push price up or lower. On bottom side, Price is again taken the support from demand zone...until demand breaks no Short again... fake breakdown may also happen at demand zone careful here... this is a strong area of value and demand zone.. that can't break easily.... will see what happens in the next session.
NSE:BANKNIFTY
by IIT-Trader
16
BANKNIFTY-- @Triangle Breakout Level??If we look at the chart price breaking the trendline and moving super bullish... after breaking the trendline price moving like a rocket. Today after breaking the trendline price is not moving much points.... it's slowly moving to the upside.. Case 1:: What happens if price not able to move upside:: If tomorrow price opens gap up and it has to move upside, if its bullish again. Case2 :: If price opens gap down its clearly indicating bearish sign. sellers will immediately take the price downwards...so no more bullishness in the market. consider end of bullishness. If tomorrow price falls below the trendline again... we will wait for the perfect place to enter for short again. by keeping the stop loss above the previous strong fall high. targets up to the Demand and bullish gap point only. If price breaks the 45600 level, we will notice a strong fall happens up to 45200 area where there is more liquidity, to eliminate all the buy orders. After a strong fall from the area 46100 level, today again price comes back to the same level.. To test the supply zone price is moving in a bullish channel... so until price breaks this and retest will not go for short side.... Note :: some times price opens up or down and fills the gap and continue fall or rise again...so be cautious in such cases. will see what happens in the next session. Disclaimer - All information on this page is for educational purposes only, we are not SEBI Registered.
NSE:BANKNIFTY
by IIT-Trader
43
BANKNIFTY--Trendline Breaks ??Price opens gap up above the trendline, and failed to take the help of trendline. sellers are aggressively taken the price towards demand zone. Reached our targets on bottom side up to demand zone. now interesting point is, price exactly closed at the previous supply zone, where previously a strong sell off is observed. If price wants to go downside, this is the place to take it downside...as already discussed earlier. we will go for buying only if trendline acts as support, we will initiate a long entry... if demand breaks and gives us pullback will enter on short side, with small stop loss. In smaller time frame, price broken the trendline and closed below it. will see what happens tomorrow in live.
NSE:BANKNIFTY
by IIT-Trader
61
BANKNIFTY--Breakout or Breakdown??Price is continuously rejected to the upside from 45900 zone.... but failed to move upside... if price breaks and retest will go for upside... if price breaks below,45900 level, we will look for buy side in the demand zone @45600 level.. tomorrow also price mostly in a range...if falls below 45900. bottom demand pushes the price up...multiple rejection area will pushes the price down.. we have a bullish gap left behind the demand zone...keep an eye on these levels. until price breaks these we cannot say anything further momentum. so tomorrow mostly price is in consolidation...between the demand and HH, if falls below 45900 If price breaks the trendline and gives us retest will go for buying...up to the ATH Level. will see what happens tomorrow...in live market.
NSE:BANKNIFTY
by IIT-Trader
35
BANKNIFTY--Plan A or Plan B ??Observations:: Today's Interesting point is price opens Gap down, indicating that buyers are not interested to go beyond this level. A strong bearish pressure is observed from the levels 46400. price tested the HH, Previous HH, at 45900 levels, and price can't make a High again, and a sign of strong bearishness is observed from 46200 levels.. we have a chance of Gap down on Monday, and test the bottom side demand zone which is @45600 levels. Plan A: if price opens gap down and after testing the demand zone, price again breaks 46200 level, if it wants to go up it has to take the help of previous ATH. Because selling pressure from 46400 level, will again pushes the price down side and P.ATH is responsible for pushing the price upside. Plan B:: After testing the demand zone, previous resistance acts, again as resistance price falls again to bottom levels. Now our key level is 45900-45800 is the only level, that can push the price up or down. will see what happens on live market in the upcoming session. Thank you for your support guys....Happy weekend.
NSE:BANKNIFTY
by IIT-Trader
45
BANKNIFTY--Continuation or Reversal ??Observations:: Today price broken the ATH again and showed a strong bullishness towards 46000.... Above ATH, we are going to mark the levels by using pivot point standard. today it performed well above ATH. So, on that basis i am giving the levels for tomorrow, if we see on monthly pivots price broken the Resistance level R2 strongly. price facing the resistance multiple times,and broken this level. in monthly the next resistance is located at 46650 level. Coming to weekly analysis, price broken the Resistance R4,at 46100 level.... and the next resistance is located at 46400 level. Before continuation will it gives a pullback..or continue to move upwards. on bottom side, a zone is formed combination of monthly resistance and weekly support. if price again comes to this level, I am again looking for buyside... if no chance will be on sell side to bottom levels. All these are the pre and post market analysis, live market is entirely different. Will see what happens in live market.
NSE:BANKNIFTY
by IIT-Trader
38
BANKNIFTY--Expiry Bullish or Bearish??After a strong move to the upside sellers pushed the price immediately downwards with strong bearish pressure.. today again sellers tried to move the price downwards and failed.. buyers taken the price again upside... one more interesting point is price is exactly closed @previous ATH level. from this level previously a strong selloff is observed... if sellers want to take the price down...this is the place they will try to push it down. so if tomorrow again price opens here...they definitely push down again. We may observe a gap down as well...if its a bearish sign. After a strong push to downwards, sellers failed again to take it downside.., means a sign of weakness in bearishness leads to bullish again... If tomorrow again price push downwards from New ATH, the area of value again push the price up... if old ATH is also push the price downside...we observe a trending bearish expiry. if price rejects from New ATH, and old ATH gives us support price is a bullish again.. and expiry is bullish. All this is pre and post market analysis..live market is entirely different from this. so will see what happens in live market.
NSE:BANKNIFTY
by IIT-Trader
25
BANKNIFTY--Retracement or Reversal ??Observations:: After a gap up opening price is reversed immediately.... can we consider this as a buyers exhaustion... The previous bearish gap is resisting the price to go down... if this failed we have an immediate support in the form of resistance acts as support... previous multiple times that price got rejected from the same zone can push the price up... until these zones failed to acts as support, then only will go for short side... if todays bearish move is a retracement, then tomorrow we will observe a bullish momentum again.. if it is a bearish sign, resistances failed to acts as support a strong fall is going to observe... If today's move is strong bearish and again rejects from top will be on bearish side up to...45100 levels. Yesterday A strong bullish move is initiated to exit all the long positions... then it will be fall again... we will see what happens in the live market...
NSE:BANKNIFTY
by IIT-Trader
46
BANKNIFTY--Will ATH Breaks ??BANKNIFTY:: A Flag and Pole pattern...is observed ---->>price is clearly broken the channel and showing us bullish momentum. we will also enter in long, achieved all targets. if this momentum is continues or any breakdown will happens again. if breakdown happens at which level this can be possible... if we see the chart the price is constantly rejected by this level @45000-45200 that's broken. after finishing the gap on upside, price will again test the ATH and falls or continues its momentum towards upside. If price tested ATH, we need a strong support to be expected from this level...@45000-45200 level to go for long. because multiple times it acts as a resistance, if resistance becomes support we will observe a bullish momentum above ATH. But ATH is strong so if price failed to acts as support @45200,price falls below, a strong bearish momentum can be happens. will see what happens Tomorrow. Thank you guys for your support.
NSE:BANKNIFTY
by IIT-Trader
27
18 JULY 2023 EXPIRY DAY BANKNIFTY SUPPORT AND RESISTANCE LEVELS Hello Guys, Good Morning everyone, According to the data today market is going to open Gap-Up After A Gap-Up opening if Banknifty sustain Above 45600 and taking Support from 45600 then open target for T1-45800,T2-46000,T3-46100 If the Banknifty Gap-Up opening sustain Below 44500 and taking resistance below 44500 then the open Targets for T1-44400,T2-44200,T3-44000 Major Levels 46000,45600,45500 If the market stande in this area of 45500 to 45300, then it is possible that even today the market will remain in the range.
NSE:BANKNIFTYLong
by mr_bull10
BANKNIFTY--Bull Trap or Bear Trap ??The index price is still trading in a channel... will this channel breakout.... or continue it's momentum towards downside.... we are at important zone...i.e 44500 zone... today price comes almost near to this zone and showed a bullish momentum towards upside... But we are still having some bullish gap left @44400 level... if today's bullish momentum is a bull trap, tomorrow price will be bearish... opens gap down fill the bottom side gap and moves up... or continue fall bottom levels, to grab the liquidity on buyside. If this a bear trap...still those who are buying puts after a strong bullish momentum puts are available at cheaper price...price will opens again gap up and takes all the liquidity on put side.. fills bearish gap and again falls from that level... so without confirmation, we cannot say anything ....as per the price movement it is in a channel.so we are taking any decision after breaking this channel... Will see what happens in the upcoming session. If this is helpful...please do follow and give a like..... Thank you guys...those who are supporting me... Have a nice weekend.
NSE:BANKNIFTY
by IIT-Trader
17