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Bankniftyanalysis

BANKNIFTY--Bearish or Bullish??The demand zone @ 43900 acts as supply zone and price falls back, below 43900 levels. the previous demand zone @ 43450 level acts as support again and price moved back to the supply zone created at 43850 levels. @this level previously a strong sell off is observed, after strong sell of price is consolidated and moved up again. while breaking this area we will again see some consolidation, if price opens still in this range, consolidation to downside is observed. if 43900 -43850 level acts as resistance price will fall back to below 43300 levels. key level of support 43100-43000. Note:: In Higher time frame still the trend is uptrend.. keep in mind, this is the phase to observe if it is a bearish turn or bullish again . As a expiry today, price is still in the range 43300 - 43850 range.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY--PlanA Or PlanB Or PlanC ??Observations: NSE:BANKNIFTY price is clearly in a range between the demand zone and supply zone. its clearly a range bound market. we are still in the uptrend only, in bank nifty ,no sign of bearishness in the market at all time high also. price broken the demand zone at 43950,closed above the demand zone. and tested the supply zone forms at 44120 levels. now we cannot decide the momentum of the bank nifty until further price action is to be identified. If supply zone breaks and showing some sign of bullishness, we need to aware that at ATH we can expect a falls breakout moments as well @44150 levels. price showing bearishness but it will not create any fresh lows. until it creates a fresh lows keep in the same direction of market trend. Note:: price is below Supply zone, price clears demand zone, as per the trend we need to listen to market momentum, its clearly in uptrend. Price at any moment can its change its direction from bearish to bullish, as higher time frame is bullish. Plan A:: Breakout continuation Plan B: Fake Breakout. Plan C:: Gap down and reversal to supply zone and falls back.
NSE:BANKNIFTY
by IIT-Trader
2
Bearish divergence explained in NIFTY & BANK NIFTY.DIVERGENCE is when the price of a scrip is moving in opposite direction of an indicator, usually an oscillator. It acts as a warning that the price trend may be getting weaker. It does not necessarily mean that the trend will reverse. It could signal an exhaustion of the current trend, the beginning of a period of consolidation or a medium to long term reversal. _________________________________________________________________________________ Divergences are classified according to their levels of strength. Type A divergences are the strongest, Type B divergences show lesser strength and Type C divergences are the weakest. Type A divergences usually present the best trading opportunities, whereas Type B and Type C mostly lead to choppy price movement or consolidation. _________________________________________________________________________________ TYPE A: Type A bearish divergences occur when price rises to a new high but the oscillator is only able to rise to a high that is lower than the previous high of the oscillator. The divergences of this type often indicate a reversal towards a downtrend. TYPE B: Type B bearish divergences are formed when the price makes two equal highs or a double top and the oscillator makes a lower second top. TYPE C: Type C bearish divergences occur when price rises to a new high but the indicator stops at the same level it reached during the previous rally. _________________________________________________________________________________ Divergences are important signals which can be used to book profits on existing positions or pulling up your trailing stop losses. NIFTY and BANK NIFTY both, are displaying bearish divergences on the daily timeframe. Which type of bearish divergence do you see in NIFTY? Comment below.
NSE:NIFTY
by Tradeception_
BANKNIFTY--Last push towards 44K or 1 left ??Observations:: ---------->> the previous supply zone clearly resisting the price to go down , witnessed buyers succeed this time to take the price to higher levels. ---------->> Hence the price is closed @43900 levels. If tomorrow price breaks 43400 level, we will observe a strong fall towards 43000,43100 levels ---------->> we have an untested demand zone @42200 will push the price upwards again to 43400 or 43600 (this will resist the price to upside again) gives pullback. ---------->> Be careful at 43000-43100 levels. -------------------------------------------------------------------------------------------------------- consolidation + up move = fall again ,if price opens ((or falls)) below 43600 levels, look for sell opportunity at 43400 to 43600 levels.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY--Bearish Turn or Bullish ??Observations:: ---------->>Price opened gap up and observed a strong fall with consolidation. ---------->> the previous supply zone clearly resisting the price to go down, witnessed buyers failed to take the price to higher levels. ---------->> Hence the price is still closed in the range of 43600-43400. If tomorrow price breaks this level, we will observe a strong fall towards 43000,43100 levels, if price again breaks 43000 levels, 42850 level acts as a pullback to 43000-43100 level, at this level previously strong sell off is observed, here(43000-43100) if again strong push to the down side happens price falls below 42850,up to 42400 levels. ---------->> we have an untested demand zone @42400 will push the price upwards again. ---------->> Be careful at 43000-43100 and 42500-42400 levels. -------------------------------------------------------------------------------------------------------- consolidation + gap = fall again ,if price opens above 43600 levels, look for sell opportunity at 43800-43900 levels.
NSE:BANKNIFTYShort
by IIT-Trader
BANKNIFTY--Expiry above 43600 or below 43000 ??Observations: BANKNIFTY--showing bearish pressure after opening gap up, falls below 43000, clearly showing 43000 is not a support ,with the help of 43000 price again tested the supply zones @43500-43600. ----------->>If tomorrow again showing bearish pressure @43600 levels, go for selling below 43350 levels for target of 43000,42850,42500 levels. ------>> Price range between 43600 below and 43850 levels. ----------------------------------------------------------------------------------------------- If price consolidates between 43400-43600 levels, price will go up.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY-- If 43400 resist,43000 will acts as Support?? Observations: ------->>After A strong fall price showing bullish movement towards 42400 levels, -------->>Previous strong resistance @42700 acts as support and showing bullish pressure towards 43000,43400 levels. ------->> If 43400-43350 level acts as Resistance(Previous Demand Zone) price will again fall from this level. --------->>previously Strong rise happens from @43400-43350 levels, also be careful at this level before long will again see some bearishness in this zone. note: Tomorrow mostly price consolidates between these 2 levels. If 43350-43400 level acts as resistance ,and the zone @43000-43100 previous resistance(If turned to support),then only price is bullish again. If 43000 level failed to acts as support, price again fall back to below 42700 levels . Careful at these levels.
NSE:BANKNIFTY
by IIT-Trader
2