SCB BUY Buy SCB
Price Stand Over Supply Zone Month.
Buy Price 118 THB
If price Close Under 118 THB Cut loss.
Bankniftylong
BANK NIFTY - Potential Bullish Move on Bullish Harami Formation
On the daily chart, a Bullish Harami pattern has formed, signaling a potential reversal after the recent downtrend. Here's my plan for this setup:
Entry: I'll be waiting for a 15-minute candle to break above the Entry Zone (51,784.80) . The high of that 15-minute candle will be my actual entry point.
Stop Loss: If any 15-minute candle closes below 50,194.30, I'll exit the trade to protect capital.
Target 1: 52,604.95 (First resistance)
Target 2: 53,375.30 (1:1 risk-reward)
Target 3: 54,965.80 / 54,840.50 (Major resistance area)
I'm watching for a breakout above the entry zone, ideally with strong volume for confirmation. The key here will be holding above the entry zone and making progress toward Target 1. If that happens, I’ll evaluate momentum for potential continuation toward Target 2 and Target 3.
As always, managing risk is crucial. If the price closes below the stop loss level on a 15-minute candle, I'll close the position. Let’s see how this setup plays out!
Disclaimer: This is not any financial advice, and for education purpose only.
Bank Nifty Podcast 13 Sep 2024There were three setups available, out of which two setups were taken based on Option Chain Data.
Setup #2 - Stoploss Hit, although the Changing in OI data was positive and all the four departments were "Bullish".
Setup #3 - I was ready to take another trade on CE side, due to data being highly positive.
---------
Notes:
- Taking trade without data is risky, as even with 50% risk the stoploss increases the loss as equal as taking 100% complete trade. So I would always avoid such trade and hold my nerves to avoid FOMO of getting into any such trades.
Nifty Bank Index AnalysisHere’s a summary of the key points and analysis:
Trend Analysis:
The chart shows a previous bearish trend that appears to be reversing or entering a consolidation phase.
There are multiple points marked as "BOS" (Break of Structure), indicating changes in market direction.
The recent candles indicate a potential uptrend with higher lows being formed.
Fibonacci Retracement:
Fibonacci levels are drawn from a recent low to a recent high, showing key levels of potential support and resistance.
The 0.5 (51,479.30) and 0.618 (51,723.25) Fibonacci levels are crucial as they often act as significant support/resistance areas.
The price currently seems to be testing the area between the 0.5 and 0.618 levels.
Projected Move:
The chart outlines a bullish scenario with price expected to move higher, potentially reaching the 1.618 Fibonacci extension level at 53,790.75.
This projection is based on a strong break above the current resistance zones.
Resistance and Support Zones:
There are highlighted red zones which indicate strong resistance levels around 52,500 and above.
A blue zone near 50,445.55 marks a significant support level, which could act as a floor if the price pulls back.
Price Action Expectations:
The chart suggests that if the price successfully breaks above the current resistance, it might target higher levels towards 52,513.05 initially and further up to the 1.618 extension level.
However, failure to maintain this upward momentum could see the price revisiting lower support levels.
This analysis outlines a bullish outlook with key levels to watch for both potential resistance and support. The price action around the Fibonacci levels will be crucial in determining the next significant move for the Nifty Bank Index.
Bank Nifty Podcast 29 Aug 2024Only 1 trade was taken.
The trade was based on podcast levels with CE side. The OI data was slightly positive and also 3 departments were "Bullish" from 4 departments of Option Chain.
The risk to reward was 0.66 which qualifies the min. required risk to reward for the podcast setup.
BankNifty Levels For 1st August-2nd AugustImportant support and Resistance Levels For BankNifty.
When Market touches the level, the price action plays important roles.
For More Learning Reach out to us.
Nifty Bank (BANKNIFTY) Targets post election 2024The chart provided is of the Nifty Bank Index on the 4-hour timeframe from NSE, created using TradingView. Here is a detailed analysis and summary:
Trend and Channel Analysis:
1. Ascending Channel: The chart shows the Nifty Bank Index moving within an ascending channel, bounded by two parallel trend lines.
2. Support and Resistance: The lower trend line acts as support, while the upper trend line acts as resistance. The price has bounced off the lower trend line multiple times, indicating strong support.
Fibonacci Retracement Levels:
The Fibonacci retracement levels are drawn from a recent swing low to a swing high, showing key levels of potential support and resistance.
1. 0% Level (48,333.10): The starting point of the retracement.
2. 50% Level (49,682.25): Often considered a strong support/resistance level.
3. 61.8% Level (50,000.70): Known as the golden ratio, it is a significant level where price action often finds support or resistance.
4. 100% Level (51,031.45): The end point of the retracement.
Key Levels and Potential Targets:
1. Current Price: The current price is 48,967.95, slightly below the 50% Fibonacci level of 49,682.25.
2. Immediate Support: Around 48,333.10 (0% Fibonacci level).
3. Immediate Resistance: Around 49,682.25 (50% Fibonacci level).
4. Next Key Resistance: Around 50,000.70 (61.8% Fibonacci level).
5. Further Resistance: Around 51,031.45 (100% Fibonacci level).
Future Projections:
1. Upside Potential: If the price breaks above the 50% Fibonacci level (49,682.25), the next target could be the 61.8% Fibonacci level (50,000.70), followed by the 100% Fibonacci level (51,031.45).
2. Downside Risk: If the price falls below the current level, it may find support at the 0% Fibonacci level (48,333.10).
Other Observations:
1. Volume and Momentum: Volume and other momentum indicators (not shown in the chart) would be helpful to confirm the strength of the trend.
2. Candlestick Patterns: Analysis of recent candlestick patterns could provide additional insights into market sentiment and potential reversals.
Summary:
- The Nifty Bank Index is currently in an ascending channel with key support and resistance levels defined by Fibonacci retracement.
- The price is slightly below the 50% retracement level, suggesting potential resistance.
- Breaking above this level could lead to further gains towards 50,000.70 and 51,031.45.
- Conversely, if the price falls, it may find support around 48,333.10.
Monitoring the price action around these key Fibonacci levels and the channel boundaries will be crucial for identifying potential trading opportunities.
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
BankNiftyBank Nifty Daily Chart breakout with symmetrical triangle Pattern buy bank sector stocks & bank nifty 1Target 50,000 2Target 55,000.
Banknifty Weekly chart Ready for 50000 next move for Banknifty
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2024 General Election
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DGP Data
Bank Nifty to move into the 50K zone in new impulse up!Bank nifty has recently gone through a steep cut, shedding 4000 points in a matter of one month.
Looking at the the bigger picture however, tells us it could be a great time to enter into your favorite banking names(or even the index itself!)
The 4000 point decline was a wave ii retracement of the impulse that the index witnessed between Oct-Dec 2023. The corrective wave can be labelled as a zig-zag(ABC) and has retraced 61.8% of the impulsive rise.
Now what should unfold will be the wave iii of III. This particular leg can be projected moving towards the 50K mark soon.
On the downside 44540 can be considered as an important support for the index.
Bank Nifty Bank Nifty chart form symmetrical triangle Pattern waiting for breakout if it will sustain on trendline then breakout with a good candle it will touch 48633.
Banknifty monthly updateHi Traders
Here i'm sharing my view on banknifty for this month, this harmonic pattern made only based on data reading for jan month.
5 JAN 2024 BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open gap up
After A gap up opening if Banknifty sustains Above 48400 and takes Support from 48400 then open target for T1-48500, T2-48600,T3-48700
If the Banknifty gap up opening sustains Below 48000 and takes resistance below 48000 then the open Targets for T1-47800, T2-47700,T3-47600
Major Levels 48000,48200,48400
If the market stands in this area of 48200 to 48400 then it is possible that even today the market will remain in the range.
BANKNIFTY--@Trendline Break??I am sharing the important levels of Support and Resistance. These levels play a crucial role in trading decisions, as they act as reliable markers of price movements.
------>>Support levels are price points where an asset tends to find buying interest, preventing it from falling further.
---->Resistance levels, on the other hand, are points where selling pressure typically prevents the asset from rising higher.
They serve as key reference points for technical analysis
Short Sellers Can Be In Trouble In HDFC bankIn the given chart we can see that after big fall of two days,on daily price reverse back and close above the low of big red candle,which put short sellers in trouble who shorted on big red bars ,once price keep trading above the low of big red candle they will look for cover which can lead to short covering and also rally will resume
WEEKLY RSI AND DAILY RSI IS ALSO AT 40,SUPPORT EXPECTED
WITH 3 MONTHS BEEN IN FALL NEXT MONTH OR THIS MONTH CANDLE CAN BE GREEN MARK IT FRIENDS.
BANK NIFTY:LEVELSNSE:BANKNIFTY has broken a downward sloping trendline. There can be retest of the line. Targets and Stop Loss are given
BANKNIFTY--Which is Support,Demand or Resistance ??The neckline broken strongly...
the trendline broken strongly....
Price opens gap down and moved to down side drastically.
Now we have 2 options, where to look for short again.
1. Neckline or
2. Trendline.
So in order to reach these 2 points, price has to reversal,
so from which zone we can expect a reversal.
If we see on bottom side,
today price has taken the support from 44800 level, and price is exactly closed in a strong fall area 45100.
If tomorrow again opens a gap down and continuously fall, and breaks 44800 level
we have to look at 2 places for buy,
one is 44600 level and
another one previous strong resistance may acts as support 44500 and pushes the price upwards.
price closed at 45100 previously it is a strong supply,
so on continuous move it pushes the price more towards downside.
If price reaches any of these 2 places look for buy,
Look for sell @neckline or trendline. No retest is observed in this places.
Note:: Price may break the trendline or Neckline and moves upwards again to reach the ATH.
So careful here.
BANKNIFTY--Consolidation + Upside = Fall ??Observations::
If we see on daily time frame, price has broken the previous resistance at 44200 level, with a strong consolidation.
price moved to the upside with strong consolidation.
let us consider this as a consolidation + upside == Fall.
price is not giving any sort of retest to the previous resistance 44200 level.
If we observe a pullback towards the previous resistance, price will fall until 44200 level.
If we see a slow pullback towards 44200 we can observe a bullishness again.. from 44200.
If there a chance of huge fall from upside...
we don't have a chance of buy opportunity again from 44200 level.
price will continuously fall happens below 44200 levels,
this time 43400 level will also break. Be cautious.
On bottom side price created a demand zone @43800,will push the price towards 44200.
Here 2 possibilities, if price falls below 44200 level,43800 gives support..
if the previous resistance acts as resistance price fall happens from 44200 again.
but if the same level acts as demand will observe again a bullish up to ATH.
05 JULY 2023 EXPIRY DAY BANKNIFTY SUPPORT AND RESISTANCE LEVELSHello Guys,
Good Morning everyone,
According to the data today market is going to open Flat
After A Flat opening if Banknifty sustain Above 45000 and taking Support from 45000 then open target for T1-45200,T2-45300,T3-45400
If the Banknifty Flat opening sustain Below 45000 and taking resistance below 45000 then the open Targets for T1-44800,T2-44700,T3-44600
Major Levels 45200,45000,44800
If the market stande in this area of 44800 to 44500, then it is possible that even today the market will remain in the range.
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.
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...
