Nifty & Banknifty analysis

[sundar]

Nifty 19-01-2023 - Nifty has a good space for a target at the upside but will the market gives a direct movement just like that?, No, so if Nifty opens flat and breaks support or resistance directly we should not do anything, once market gives a pullback or retests the resistance levels again we can add the position. if Nifty opens flat or slight gap up and faces resistance at 18180 tehn comes down and breaks 18140 levels, market might come down to test the lower levels so all the FIBO levels act as an support. if Nifty opens gap up above 18184, it might come down to retest the resistanc elevels so need to wait and see how the market behaves near 18180, if Nifty opens gap down 18120 will act as support Nifty might take support at this levels and moves towards the upside so once Nifty breaks 1840 we can plan a buy trade here.

[sundar]

BankNifty 20-01-2023 analysis also closed near 0.382 levels, if BankNifty breaks this trend line resistance we might see a trending market today, so if Banknifty opens flat and trades inside this for some time and breaks the 0.236 level we can expect a good move next resistance we have at 42250 if market tries to hut the sellers stop loses it might move 42700. if BankNifty opens inside the range and breaks 0.382 level no trade should be planned because 42200 is acting as support so the market should close below this level still bankNifty might not give a good move towards the downside so it can take support at 42120 and might move towards the upside, so at 42200 or 42120 levels if BankNifty takes support we can plan for a buy trade.

[sundar]

Nifty 20-01-23 analysis - Today I am not expecting a big move but the market might give a movement near support or resistance. Nifty closed at FIBO 0.382 level if Nifty opens flat and breaks this no-trading zone should not plan for any trade if the market takes support at 18050 and tries to move upside we can plan a trade but it has to break the no-trading zone upside, if Nifty retests this no trading zone after the breakdown, then the market might move in the same direction so if Nifty again breaks 18050 level we might see an 80 100 points movement. if Nifty takes support at no trading zone and moves towards the upside it has to break the 180140 resistance till then should not plan anything, so if Nifty breaks the 18140 level Nifty might again give one small movement, if Nifty breaks 18180 and retest that level then we can say the market is trending and we can plan for a buy trade.

[sundar]

BankNifty 25-01-23 analysis has already broken the trend line support and retesting the levels, 42600 is acting as support, if BankNifty opens gap up it might face resistance at 42800, if BankNifty opes above this level next resistance BankNifty has at 43000, in case BankNifty breaks 42600 levels and retests this price level we can see a fall in BanknIfty till the next support at 42470. if BankNifty opens gap down 42470 will act as support so in this scenario market might move upside so we need to wait and see the price behaviour at 42600 levels because this is important level if BankNifty opens above or below this level.

[sundar]

Nifty 25-01-23 analysis Hello Traders, Today is a weekly expiry day, so if anybody holding positions with a small loss or profit close the positions anything can happen today because the market is looking super volatile. if Nifty opens within the range of 18070 and 18140 we need to wait and watch which side the market is moving so if Nifty breaks the 18140 levels we plan for a trade with a small loss if Nifty moves further and breaks 18200 we can book the profit, this plan only for experienced traders, beginners should wait for 18200 breakout. If Nifty comes down and breaks the 18070 level we can plan for a sell trade next support we have at 18020 so at this levels we need to see if the market moves further we can hold to the trade if the market takes support and moves up we should exit with minimum profit.

[sundar]

BankNifty 03-02-23 analysis
                   forms a narrow range but yesterday closed at 0.5 level, so if BanknIfty opens gap down and takes support at the 0.382 level and then breaks the trend line we might expect a movement toward the upside, if BanknIfty comes down breaking 0.382 level again the trend line will act as support so if the trend line is broken we can expect the downside move but 0.236 level is also acting as support so should be careful. if BanknIfty opens gap up 0.618 level is the resistance so BankNifty might face resistance, if BanknIfty retraces back from this level and again breaks the 0.618 level we might a strong move towards the upside.

[sundar]

Nifty 03-02-23 analysis - There was no much movement in Nifty yesterday Nifty was trading within the range of 130 points. market sentiment is still sideways because after the budget day if the market is continuous the same trend we might have seen the trending market yesterday or today also we could've expected the trending market but it is clear that it is a choppy market. if nifty opens a flat or slight gap down and breaks the 17650 Nifty might try to test the 17800 levels or the trend line resistance, If Nifty opens gap up opening itself it might come down and take support at 17650, in this case, can find a buying opportunity at this support level. if Nifty opens gap down and tries to fall down market can take support anywhere between 17500 to 17400, even if Nifty opens with a huge gap up also 17800 and the trend line will act as resistance.

[sundar]

BankNifty 13-02-23 analysis
                     we can say BankNifty is trading in a triangle pattern if we draw FIBO from swing low to swing high 0.236 level is the first support for BankNifty. if the market opens flat and breaks this support level then BankNifty can test all these support levels, or if BankNifty takes support and tries to move upside from any of these support levels market might go to retest the trend line, so should be careful near the support levels when keeping the targets. if BankNifty opens within this range and trie to break the resistance trend line 42000 will be the next resistance for BankNifty so once BankNifty tests this 42000 level we can expect retracement or a good down move from this level because it is seller territory so that time also sell trade can be planned with Price Action confirmation.

[sundar]

Nifty 13-02-23 analysis
                 in 1hr time frame forming a channel pattern market tested resistance 3 times and tested support 4 times, on Friday Nifty closed near resistance levels, inside the channel pattern Nifty formed a narrow range so if nifty opens flat and trades within this range no trade, if Nifty opens flat and makes an up move until it breaks 17900 there will be no trading opportunity, so once Nifty breaks 17900 levels market can make an up move but again price should sustain above this level otherwise it might also be a fake breakout. if Nifty opens flat and breaks 17800 support levels or the trend line support chances of Nifty testing all the support levels are high so the market can come down to 17650 levels. if nIfty opens a gap down below this trend line support wait for the confirmation because Nifty can take support at 17800 or  17850 and Nifty might go to retest the trend line levels so after retesting Nifty will come down again that time we can plan a sell trade.

[sundar]

Banknifty 14-02-23 analysis
                tried to break 41260 support levels but did not sustain end of the day it went sideways, If Nifty opens in the same levels between 41260 and 41400 and then breaks the 41620 support market might give a good down move if BankNifty gives a breakout it might not sustain the levels so it can face resistance at 41600 levels and come down. if BankNifty opens below the support levels let the market move in that direction so if bankNifty comes down and takes support at 40900 levels once retracement can be expected after the down move, if BankNifty gives an opportunity to enter once the support is broken we can plan for sell trade otherwise wait for pull back or for the support levels, so once BanKnfity comes down to support levels and tries to make an up move we can plan for buy trade with small SL but if BankNifty after a retracement again breaks the support levels which is 40900 market can go sideways again.

[sundar]

Nifty 14-02-23 analysis - Yesterday Nifty broke the trend line and it has given a good move but after that, it went sideways and created a small range, in case nifty opens in this range itself and consolidates for some time then breaks the support which is 17730 levels we might see a big move in the market because people who went long today their stop loses are below the 17720. so in Nifty started hunting their stop losses market might continue the same trend till 17650. if Nifty after consolidation breaks the resistance which is 17800 market might go to retest the trend line so near 17860 or 17900 levels Nifty might face resistance that time market might make a down move. even if Nifty opens a gap up wait for the confirmation once Nifty faces resistance at 17860 levels and starts moving towards the downside we can plan a trade. if Nifty opens gap down it might continue the same trend till 17650 which can act as the first support in Nifty and 17580 can act as the second support.

[sundar]

Banknifty 15-02-23 analysis today took rejection from 41700 levels and it has shown a small retracement if the retracement continuous toward the downside FIBO levels can act as support so if BankNifty opens flat and comes down and takes support at a FIBO level then if BankNifty starts moving upside we can plan a trade but again 41700 levels still are the resistance until the market breaks this levels and sustain above this resistance levels anytime market can reverse so even the trade is planned near the support levels target should be planned before the resistance zone, in case Banknifty breaks 41700 levels wait for the retracement or let the market retest the same price levels that time stop loss become small and we can plan to keep the target below 42000 because 42000 is the next resistance in BankNifty. if BankNifty opens gap up as I said the Nifty market might come down to test the support levels which were acting as resistance earlier so that time with a small SL we can plan a trade.

[sundar]

Nifty 15-02-23 analysis - Still the trend line is not broken so it is acting as support. and Nifty also not broken the resistance level yet 17950 is still a resistance because yesterday also it has faced resistance at this level, so if Nifty opens flat and starts moving down FIBO 0.236 levels works as support either Nifty will take support at 0.236 levels of it can come down and take support at 0.5 level where the trend line will also act as support, so if Nifty Nifty comes down to the support levels on the same it might not give a breakout so Nifty can move up to the previous day high. if Nifty opens gap up 18000 is the round number so Nifty can face resistance at 18000 levels and then comes down to retest the 17950, that time resistance will act as support, whenever the market retraces back or consolidates near the resistance zone either the market will accumulate buyers or sellers but, if the market gives a breakout we can expect a big move towards the upside.

[sundar]

Banknifty 16-02-23 analysis has not broken the important resistance which is 42000, but BankNifty has given a breakout above the rejection zone, today if BankNifty opens flat and comes down BankNifty might break the 41700 level because this level is near the closing price, so once it has broken the 41700, FIBO levels will work as support. if BankNifty opens gap up 41860 works as the first resistance and 42000 is the second resistance. so if BankNifty opens gap up market can face resistance at 41860, if BankNifty faces resistance at this level it might come down to take support at 41700. if BankNifty opens flat and moves upside and breaks the 41860 again we can expect a good move towards the upside, if BankNifty opens gap down again FIBO levels will act as support.

[sundar]

Nifty 16-02-23 analysis finally broke the 17960 resistance level and it has closed above 18000, if Nifty wants to continue the same trend then it has to fall back and retest the 17960 level. so if Nifty opens gap up it can face resistance at 18085 levels and come down if Nifty comes down it can take support at the previous day's high, so if Nifty fills the gap and makes an up move again we can expect a upside movement, if Nifty breaks the PDH then it can come to retest the 17960 levels from there the Nifty can rally towards the upside. if Nifty opens flat and makes an up move wait because it might form a wick and come down so even if Nifty makes a continuous rally towards the upside don't try to enter until it gives a pullback. if case Nifty opens gap down again we market will take support at 17960 levels and moves upside so if nifty moves upside PDH will be the first resistance so Nifty should break.