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Bankniftyanalysis

Rising wedge pattern at a (15 mins) lower time frameTechnical: 1) A rising wedge pattern was formed from 5th August until today. 2) At 3 pm today, a bullish candle crossed the upper trendline. 3) The following candle successfully sustained above the trendline. 4) Building on my previous Nifty idea on 06th Aug'24, the Nifty is still holding above the rising wedge trendline on a higher time frame Please consider these points for educational purposes and let me know if anything can be added or modified technically.
NSE:NIFTY
by Prasad_Chenchu
ViewHello, Traders. It's been a while since my last post. A lot has changed in my life: I received a promotion, got married, and traveled extensively across India, as well as to one international destination. While I kept an eye on the markets, I wasn't actively trading for the past year and a half. However, I'm back in action now, having resumed active trading over the last four months. I plan to share my insights whenever I anticipate market movements. Here’s my perspective for tomorrow. The markets have undergone significant changes in recent years, so it's essential to be cautious with your position sizes. The volatility is high, and algorithmic trading is prevalent, leading to unexpected spikes almost daily. In the past six trading sessions, the markets have been stagnant, often trapping traders with false breakouts in both directions. I believe we are due for a significant move of at least 500 to 600 points in one direction. You can consider going long if a 30-minute candle closes above 50792.90, with the first target set at 51133 and the second at the yellow trendline. Make sure to hold on for at least 350 points on the index before booking profits. You can opt for futures or purchase the 14 Aug 50700 CE, though I recommend futures since expiration is just a day away. It’s also advisable to short the 50700 PE and 50800 PE, keeping a stop-loss at 50% of the premium paid on the call side. If the premium on the 50700 CE reaches 50%, set a stop-loss on the futures. Given the market's volatility, it's best to tread carefully on the downside.
NSE:BANKNIFTY
by vivekz_142
[INTRADAY] #BANKNIFTY PE & CE Levels(09/08/2024)Market Outlook for Bank Nifty: Opening: Expected to open with a gap up near the 50,500 level. Potential Reversal: After opening, a reversal at the 50,500 level could continue the bearish trend. Downside Potential: If a reversal is confirmed if banknifty starts trading below 50450 level, a downside rally of 400-500 points could occur after that. Extended Downside: The rally might extend by an additional 400-500 points if Bank Nifty trades below the 49,950 level. Upside Potential: Any upside rally is only anticipated if Bank Nifty sustains and trades above the 50,550 level.
NSE:BANKNIFTY
by TradZoo
Consider Buying Bank Nifty at 50,438.30 using SMCWe have identified an opportunity to enter Bank Nifty at 50,438.30. This trade setup leverages the Smart Money Concept (SMC) and takes advantage of a Fair Value Gap (FVG) above a Demand Zone. Trade Details: Entry Price: 50,438.30 SL: 49,616.75 (-1.63%) TP: 53,248.25 (+4.05%) Fair Value Gap (FVG): An FVG represents a quick price move with little trading volume, often driven by institutional activity. It can serve as a support or resistance area, making it a strategic entry point. Demand Zone: Positioned below the entry price, this zone indicates strong buying interest, suggesting that institutional investors may support the price at this level. Stop Loss (SL): Placed at 49,616.75, just beneath the FVG, to limit risk at 1.63%. This safeguard helps protect against unfavorable price movements. Take Profit (TP): Targeting 53,248.25, with a potential gain of 4.05%, aiming for a supply zone where selling pressure might emerge. This approach is designed to align with institutional activities by identifying critical market zones. Always remember, trading involves risks. Stay updated and adjust your strategy accordingly. 📊💼 Like and follow for more trading insights, and share this with your network! 🔔👥
NSE:BANKNIFTYLong
by smarttrader012
BANK NIFTY BUDGET DAY ANALYSIS 23/07/2024BUY ABOVE - 52400 SL - 52200 TARGETS - 52620,52800,53000 SELL BELOW - 52200 SL - 52400 TARGETS - 52000,51740,51510 NO TRADE ZONE - 52200 to 52400 Previous Day High - 52400 Previous Day Low - 52000 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 👍
NSE:BANKNIFTY
by Jagadheesh_JP
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