Nifty & Banknifty analysis

[sundar]

Nifty analysis 05-01-2023   

    Nifty - 18036 to 18000 is the accumulation zone while closing Nifty looks like it has formed a double bottom pattern. the trend line is acting as resistance if Nifty opens and tries to move in the upward direction by crossing 18060 levels, FIBO 0.382 level can act as resistance. If Nifty opens flat and trades in lower levels itself and then it moves upside and gives a trend line breakout, the market might move further. If Nifty opens gap up also 18080 and 18100 work as resistance, in case Nifty opens gap down, nothing should be done until it breaks 18000 or it breaks and comes out of the accumulation zone. since it is a weekly expiry we could've expected a short covering rally but yesterday was a trending day option buyers made a profit, but still it was a downside move call option sellers also would have made money so if the market stays calm in the range itself, and then gives a rend line breakout we might see a short covering rally.

[sundar]

Banknifty 05-01-23

               BankNifty - 740 points range, it is a good range for option sellers to create strangle. If BankNifty opens flat or gap down and tries to move in the upwards direction, FIBO levels act as resistance, between each FIBO level there is a space of 100 points, so each FIBO level can be the target level, if BankNifty opens flat and moves down, it has to break 42860 until no short trade to be initiated if BankNifty breaks 42860 level, 42600 is the next important support for BankNifty. if BankNifty opens with the gap up market might face rejection at any of the FIBO levels and come down to the support levels. if the market starts in the range of 43000 and 42900 and then gives a breakout we might a see rally towards the upside.

[sundar]

Banknifty Analysis 06-01-23

            hello Traders, BankNifty - we can clearly see that BankNifty is rejected this trend line more than 3 times, so usually the market rejected the line like this probability of breaking the trend line is high because traders who had taken short positions kept their stop loss above the swing high so if market try to move up the buy orders will trigger so the market will start moving higher and higher, but we should not enter the trade as soon as it breaks the trend line we should take price action confirmation also and there is a no Trading zone so the market should break the no trading zone so move further, even the market is making lower high's and lower low's until BankNifty breaks 42460 levels we should plan for PE. if the market opens flat or gap up and breaks the 42733 level we can plan for a small trade because 42900 is acting as resistance. if the market opens flat and comes down no trade until it breaks the 42460 support.

[sundar]

Nifty analysis 06-01-23         
     
         Nifty - 3rd-time Nifty is testing the trend line, this is the Price Action strategy 1 in the complete Price Action course, which i have given for free in our Youtube channel, if Nifty takes rejection from this level we might see another lower low formation, but Nifty should break 17960, if Nifty takes support at 17960 levels and breaks the trend line we should wait until 18000 is broken once 18000 is broken we can plan for CE so 18070 and 18116 are the next resistance levels. if Nifty opens the gap up it might face resistance at 18070 and come down to retest the trend line, so near 18000 if Nifty takes support Nifty might again move upside, if Nifty opens gap down below 17960 we might see a negative move downside so Nifty might break 18891 also, draw these important levels on your chart.

[sundar]

Banknifty 09-01-23

         BankNifty is rejecting the upper trend line and taking support at the bottom trend line, and if draw FIBO from top to bottom if the market retraces back towards the upside all these levels help us keep the targets, if BankNifty opens gap up and starts moving upside until it breaks 0.382 level no trade because if the market takes rejection at this level market might take a turn from this levels so need to wait and see how the market behaves at this level if BankNifty opens flat and face resistance at the trend line and breaks 42060 levels there will be a 100 to 150 points down move if BankNifty opens gap down 42060 and 41880 are the support levels.

[sundar]

Nifty 09-01-23

Nifty has rejected the trend line two times so this is the 3rd time, and Nifty also created a base at 17800 which is important support, If Nifty opens flat or gap down and tries to make an up move, 17890 is the resistance so Nifty has to break this level to move upside, but even if the level is broken the trend line is acting as resistance so after a small consolidation if the trend line also is broken Nifty might rally towards the upside, if Nifty opens gap up and breaks the trend line wait for the pullback because if Nifty wants to go up it has to accumulate buy orders so if Nifty takes support again at the trend line at gives an additional edge to our trading plan.

[sundar]

Banknifty 10-01-23 analysis     
   
             BankNifty - 0.5% of FIBO acting as resistance and trendline is acting as support, 1. If BankNifty opens flat and takes trendline support and then breaks the 42724 levels with good volumes we can plan our trade and the target would be FIBO 0.618 levels i.e. 42927. after opening flat BankNifty breaks the trend line wait until the market crosses the 42431 level because is a swing low level so once BankNifty crosses this support level BankNifty might test the next support level which is 42275.
2. If BankNifty opens gap up above 42735 and takes support at the same level BankNifty might make an upside movement to attack sellers at 42927 and 43000. if BankNifty opens with a huge gap up then possibilities are there that market can come down.
3. If BankNifty opens gap down breaking the trend line, the market might continue the downside movement till the support level of 42275 from there it might take support and move upside.

[sundar]

Nifty 10-01-23 analysis


        Nifty - Nifty has traded in the 100 points range 18130 is the resistance level, and 18026 is the immediate support level, so if Nifty opens flat for some time Nifty might trade within this range, we get a good trade if Nifty opens gap up, 1. if Nifty opens gap up near 18130 or opens flat at this level market might form a double top pattern so if Nifty faces resistance and tries to come down we can plan the trade. 2. if Nifty opens gap  up above 18130 levels the same level can act as support so Nifty should break the 18130 and come down. or it might take support at 18130 and move towards the upside but there will be 50 to 60 points movement we can expect.
3 if Nifty opens gap down then the market might be in the seller's control so after a small retracement near 18026, the market might breaks this support and can move towards the downside. so if the market opens gap down need to observe the price levels at 18026 levels.

[sundar]

BankNifty 11-01-23 analysis

          BankNifty - Exactly at the trend line market took rejection yesterday, so today also this can act as an important resistance if BankNifty opens flat and move towards the upside 42266 is the resistance level also at this price level trend line acting as resistance, so if BankNifty takes retracement and breaks this trendline 42500 is the resistance levels BankNifty might test. if BankNifty breaks and sustains above the 42500 level it might also try to hit 42700, else if BankNifty takes rejection at 42500 if might give a good fall towards the downside, if BankNifty opens flat or gap-down and comes towards the downside 41846 is the support if BankNifty Breaks this level next BanKnifty might take support at 41598.

[sundar]

Nifty 11-01-23 analysis


            Nifty - 17856 is acting as support and 18080 is acting as resistance, Nifty creates a narrow range, today Nifty can trade inside this range itself, so if Nifty opens flat and starts moving downside bottom trendline will act as support so Nifty might take support and move upside but until Nifty breaks 0.236 levels no trade should be initiated, if Nifty opens flat and move towards upside until it breaks 0.382 levels no trade should be initiated if Nifty breaks 0.382 level, 0.5 and 0.618 levels will act as next resistance zones, if Nifty face resistance at any of the FIBO levels after opening gap up we might see a good fall towards the downside.

[sundar]

Nifty analysis 17-01-2023
                Nifty is trading in a range and forming a symmetric triangle pattern, if Nifty opens flat or slightly gap down, this trend line will act as support, so if Nifty takes support at 17860 levels and starts moving upside 17940 is the resistance, if Nifty breaks this level next it might face resistance at the trend line, if market faces resistance at 17940 and comes down then breaks 17860, Nifty might test 17780 levels, if Nifty opens gap up 17940 works as support so if Nifty takes support and breaks the trend line upside, 18020 is the next resistance level, if market faces resistance at the trend line and comes down then breaks 17940 levels, Nifty might break the trend line as well so we can expect downside movement.

[sundar]

Banknifty Analysis 17-01-2023

BankNifty also respects the trend lines, and 42420 is acting as a mid-price range, so if BankNifty opens flat 42120 is the support zone BankNifty might take support at this level and move towards the upside if the market moves upside 42420 is the next resistance for BankNifty If BankNifty opens gap down, the market might form a bearish candle if so 41940 levels act as support so BankNifty might reverse from this level if BankNifty takes support at this levels and starts moving upside we can plan a buy trade here for the target of 150 points if BankNifty opens gap up, 42420 acts as resistance if market tries to move up, if the market breaks the levels, next it might face resistance at the trend line, if the market opens above the 42420 levels, a trend line can act as resistance if Banknifty breaks the trend line also 42700 will be the next resistance zone. levels are very clear in BankNifty we need to wait and see where the market will open.

[sundar]

Nifty 18-01-2023.analysis - if Nifty continuous the retracement from the levels where it closed it might come down to retest the trend line, so if Nifty opens a gap it might fall down 20 to 30 points till the 18030 level, if nifty breaks this level also it can make movement till 18000 to test the trend line, so small trades can be planned here, if Nifty opens flat and consolidates near PDH for some time and breaks the PDH again we can expect a good move towards the upside so Nifty can take pause near 18100 if 180100 also broken 18120 and 18140 will be the rejection levels in Nifty. If Nifty opens gap up between 18070 and 18120, them market might be in a confusion stage so we need to wait and watch the direction of the market so if Nifty opens gap no trades should be planned until it gives a movement towards the upside or downside.

[sundar]

BankNifty 18-01-2023 analysis
               closed near the important resistance level, the trend line acting as resistance so if BankNifty opens flat and takes resistance at the trend line or the market consolidates near the trend line for some time and breaks the trend line BanKnifty might test 42380 and 42450 if BankNifty opens gap up and moves up it might face resistance at 42380 and cone down for gap filling once gap is filled again market might move up, if BanKnifty comes down after opening a gap up 42300 acts as support so the market might take support at this and can make an up move if the market goes below  42200 it ming again test the 42060.

[sundar]

BankNifty 19-01-2023 analysis - In  Banknifty this trend line is acting as resistance if BankNifty Opens flat and directly breaks the trend line no trade should be taken only if Banknifty gives a pullback or it retests the trend line we can plan a buy trade, if the market moves towards the upside 42700 will act as resistance if BankNifty opens flat and takes support at 42400 levels and then breaks the trend line we can plan a buy trade if the market opens falt and breaks the 42400 levels market might move towards the downs side we can consider this movement as retracement so FIBO levels will act as support, even if Banknfity opens gap down and moves towards the downside market might continue the downs side move so in this scenario also we can plan a sell trade FIBO levels are the target levels if market trades in the lower range till 1 pm and gives any trend line breakout or price action confirmation we can plan a buy trade near 0.5% of FIBO support levels.