EXPIRY ZERO TO HERO STRATEGY FOR BANKNIFTYBANKNIFTY ANALYSIS FOR THRUSDAY 22ND JUNE-FOR EDUCATION PURPOSE
BANK NIFTY:-
If BankNifty sustain the level of 43850 break 43900,then 43950-44050-44150 level can be achieved.
If BankNifty break down 43850 and break 43800 spend time below then 43750-43650-43550-43450
This video is for educational purpose and my personal view . We are NOT SEBI registered Advisor, we only give the level on our practical trading experience. Kindly take the trade according to your risk and reward position and consulting your advisor.
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Bankniftyanalysis
BANKNIFTY--44300 or 43400 ??Observations::
The Banknifty index has again strongly moved back up again from 43400 levels.
It has broken the supply zone @43700 levels..
tomorrow if the same level acts as support price is bullish and will reach again top side.
If price wants to test the supply @44300 level, it has to break the 44100 and 44200 levels.
these 2 levels are stronger so, we can observe a consolidation in these 2 levels,
and breaks upside and then fall back to below levels.
if price wants to consolidate we need a strong break to upside from 43900 levels...
it has to create a demand zone in this zone @43900.
If price falls below 43700 and from 43500 will gives pullback then will go for short.
Note::
if price is stuck between the levels,43900 to 44200 levels, weekly expiry is ranging.
21 JUNE 2023 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 sustain Above 43900 -44000 and taking Support from 43900 then open target for T1-44200,T2-44300,T3-44500
If the Banknifty after a Gap-Down opening sustain Below 44000 and taking resistance below 43900 then the open Targets for T1-43800,T2-43700,T3-43500
Major Levels 43500,44000,43900
If the market stande in this area of 43500 to 40000, then it is possible that even today the market will remain in the range.
BANKNIFTY--Rise or Fall ??Observations:: ((This part continuation to Consolidation + Down = Up))
---After a strong consolidation + downside = Upward Is Done.
--->> The Base is again acting as a resistance so price fall is done.
---->>now price is nearly at its demand zone,43400 if this zone breaks or not??
the possibility of breaking this zone is more until price is below 43700 range.
that is the range previously a strong rise is observed...its clear demand zone.
today price broken the demand zone and retested the same zone and closes below that zone.
if this same zone acts as resistance price can easily breaks this bottom demand @43400.
But before breaking this zone, we will observe a consolidation or strong fall is going to happen below these zones.
from the last 3 days a trending market is observed, no sign of range is observed.
if Demand zone @43400 will resist below and @43700 demand acts as supply will resist above we will observe a ranging market again.
if price strongly break this zone @43400, we have a next strong zone @43100-43000 is possible.
in the middle 43300 will gives us pullback. Will see what happens tomorrow in the live.
BANKNIFTY--Consolidation + Down = Up ??Observations::
---->> A strong bullish momentum is observed from this zone...43400 level...
---->> To reach this zone 43400 level from resistance price is approching with strong consolidation.
---->>if this zone again acts as support,will be on buy side until the Base low 43900, Base High 44200 only.
---->> Drop-Base-Drop formation is observed.
---->>If the base resist the price, to go upside...will again observe a fall below 43400 levels...
View on Nifty Bank for trading on 19th June 23Here I'm publishing my views on BANKNIFTY for next-day trading as per the closing of 16th June 23
This is Just an Idea based on chart analysis as per the data, you may disagree or agree...
1) If BANKNIFTY is trading between the range 43759 to 43908 then the day is for Option Seller only and all the Option Buyers are free for searching the opportunity based on breakout or breakdown
2) If BANKNIFTY opens above the range 43759 to 43908 and does not cross 44085 then Option Buyers wait for the breakout above 44085 and enter with an RSI above 65 confirmation in a 15M time frame, The possible resistance is already placed in a picture [ 44219 / 44344 / 44494 ]
3) If BANKNIFTY opens below the range 43759 - 43908 and does not close below 43633 then Option Buyers wait for the breakdown below 43633 and enter with an RSI below 35 confirmation in a 15M time frame, The possible supports is already placed in a picture [ 43397 / 43242 / 43077 ]
This is only the view on BANKNIFTY not advice to play like, please trade with your own knowledge and strategies you follow...
The analysis in this article is purely for Educational Purposes not for trade setup or advice to trade and based on my personal experience I'm just sharing my views on BANKNIFTY on this platform...
16 MAY 2023 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 43500 last day high and taking Support from 43500 then open target for T1-43700,T2-43900,T3-44000
If the Banknifty after a Gap-Up opening sustain Below 43500 and taking resistance below 43500 then the open Targets for T1-43400,T2-43300,T3-43200
Major Levels 43500,43400,44200
BANKNIFTY--Gap Down or Gap Up ??observations::
After a strong fall price is in consolidation,
price is in a range more than two days and today witnessed a pullback is observed...
If it is a pullback, tomorrow we will observe a bearishness again....
If we see still the strong supply zone is located at 44300 levels..
If tomorrow price opens gap up and showing bullish pressure will be on buyside until 44300-44350 levels
if the supply zone @44200-44160 range acts as support price will again touch ATH.
If price opens, Gap down, we will look at 43700 area for buy side.. where previously gap up is observed
If price is showing strong bullish pressure @ this level will go for buy on pullback.
After Gap down, no buying pressure and again showing consolidation...
will be on sell side for targets of 43400 levels.
and we will look for buyside at 43400 levels.
If price again Strong bullish from bullish gap levels...and moving above levels..
will be on buyside until the supply zone..@44300-44350.
15/06/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys,
Good Morning everyone,
According to the data today market is going to open Gap-Down
After A Gap-Down opening if Banknifty sustain Above 44200 last day high and taking Support from 44200 then open target for T1-44300,T2-44400,T3-44500
If the Banknifty after a Gap-Down opening sustain Below 43850 and taking resistance below 438500 then the open Targets for T1-43600,T2-43500,T3-43400
Major Levels 44000,43900,44200
If the market stande in this area of 43900 to 40200, then it is possible that even today the market will remain in the range.
Bank index continues to be Neutral while Nifty is Bullish Expect a fairly low move expiry on BankNifty as called earlier in the week. Strangles have had good decay so far. No surprises expected in the Repo rate announcement tomorrow given the CPI coming in within expectations.
MaxHealth bullish at ATH. Expect a good move to 690 levels.
BANKNIFTY--Retest or Fall ??Observations::
Price has broken the trendline...strongly
now we have to see it will continue to drop or will retest the trendline...
if we see the chart,
trendline retest if possible test area is 44200 or strong fall area @44350 level.
If we see on bottom side...strong reversal is observed with gap @43700 and is still not at finished.
if price fall continue we can observe this gap be finsihed soon.
if Price is going to test the supply zone @44350 to fall again
If tomorrow price is range between 44000 and 44160 levels and goes up look for sell.@ Supply Zone.
Bank Nifty Trade Setup (12-June-2023)This will be my personal trade Setup, This is not an advice of any kind to initiate trade according to this setup. This is for only for my learning purpose and maintaining my trading journal.
Bank Nifty selling of and forming shooting star candles... what should we expect ? Is it trend reversal ? or is it profit booking buy previously holding stocks ?
Day traders shouldn't worry about long term...
So for tomorrow this will be my trade setup:
1.) If opens flat which is near trendline or above it and horizontal reistance (44060) and takes support there i will buy for target of 44250.
2.) If opening flat and broke both trendline and resistance of 44060 keep acting as resistance i will short for target of 1st support 43850, then 2nd support 43730.
3.) Big gap up or down will stay away from market unless there is good setup.
09/06/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello 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 44500 and taking Support from 44500 then open target for T1-44600,T2-44700,T3-44800
If the Banknifty after a Gap-Up opening sustain Below 439000 and taking resistance below 439000 then the open Targets for T1-43800,T2-43700,T3-43600
Major Levels 44000,44300,44200
If the market stande in this area of 44500 to 40000, then it is possible that even today the market will remain in the range.
BANKNIFTY--Bullish Gap or Bearish Gap??observations::
We have resistance in the range 44270-44255,
if failed to resistance price will reach 44340-44310 range.
we will observe some consolidation in this area 44250-44360 range.
we have support @44150-44140 range ,if failed will go for short.
we have bearish gap @44450 range...
if price breaks the resistance @above zones.. will observe gap may fill...
we have bullish gap left @43880-43900 range.. will again push the price to higher levels.
07/06/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys,
Good Morning everyone,
According to the data today market is going to open Gap-Down
After A Gap-Down opening if Banknifty sustain Above 44500 and taking Support from 44500 then open target for T1-44600,T2-44700,T3-44800
If the Banknifty after a Gap-Down opening sustain Below 44000 and taking resistance below 44000 then the open Targets for T1-43800,T2-43700,T3-43600
Major Levels 44000,44300,44200
If the market stande in this area of 44500 to 40000, then it is possible that even today the market will remain in the range.
BANKNIFTY AnalysisObservations::
----->>Look BANKNIFTY yesterday taken the support from trendline and showing bullishness.
the price is completely trading in a range of previous day bearish candle.
If this continue to move upside will observe a bearish gap be filled.
If price breaks the trendline, we have strong support @ 43400 level, may again push the price upside.
Keep watch this level.
Sell Plan::
If price breaks the low @43700 level, and gives us pull back will go for short until 43400 levels.
Buy Plan::
If price breaks yesterday high, we have an immediate resistance @44200 range,
which is difficult to enter for long, until this breaks.
If price breaks this range and gives us pullback will enter long, for target of bearish gap.
If we use Fibonacci levels, if we draw it from previous low to high,
which is exactly @ 0.6-0.5 range only.
still the price is in uptrend only,
no sign of bearishness. will be on buyside from 43400 level, until it breaks.
If price is again consolidation at 43700-43400, price have a chance of breaking downwards,
wait until it breaks strongly.
If price not break this level, enter for long on retracement.
draw trendline on the opposite side as well, then only look for buyside confirmation.
06/06/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys,
Good Morning everyone,
According to the data today market is going to open Gap-Down
After A Gap-Down opening if Banknifty sustain Last day Above 44300 and taking Support from 44300 then open target for T1-44400,T2-44500,T3-44600
If the Banknifty after a Gap-Down opening sustain Below 44200 and taking resistance below 44200 then the open Targets for T1-44000,T2-43800,T3-43600
Major Levels 44000,44300,44200
If the market stande in this area of 44200 to 43800, then it is possible that even today the market will remain in the range.
05/06/2023 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello 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 44200 and taking Support from 44200 then open target for T1-44400,T2-44500,T3-44600
If the Banknifty after a Gap-up opening sustain Below 43800 and taking resistance below 43800 then the open Targets for T1-43600,T2-43400,T3-43200
Major Levels 44000,43800,44200
If the market remains in the range of 44200 to 43800, then it is possible that even today the market will remain in the range.
BANKNIFTY--which is Support Trendline or Demand Zone ??Observations::
Price is exactly closed near the trendline...
if trendline acts as a support we will observe bullishness again...
if price breaks the trendline and takes the help of demand zone to move up again.
We have a demand zone 43400,which is a strong demand may acts as support again.
keep watch these 2 Levels.....
1.Trendline Support or
2.Demand Zone Support.