Trade Plan:
Sell below 18900-18950 - Sl two hour close above 19050 - Day HEMA
Buy above 19050 day HEMA - SL two Hour close below 18900
Showing posts with label Bank Nifty. Show all posts
Showing posts with label Bank Nifty. Show all posts
August 11, 2015
BANK NIFTY ANALYSIS
Bank nifty for the 5th consecutive day has found resistance at 19050 and support at 18900-800. There are both Bullish and Bearish Prospects in contention - Typical of a B Wave. Yesterday EOD close was below 18900 - signalling weakness. But it is above the TA parameters such as 10 EMA,10DMA and 5 Low EMA.
Trade Plan:
Sell below 18900-18950 - Sl two hour close above 19050 - Day HEMA
Buy above 19050 day HEMA - SL two Hour close below 18900
Trade Plan:
Sell below 18900-18950 - Sl two hour close above 19050 - Day HEMA
Buy above 19050 day HEMA - SL two Hour close below 18900
July 23, 2015
BANK NIFTY ANALYSIS
Intraday Update: 12.15 PM:
Bank Nifty Spot has reached the support level of 18850 low today. If Supported, then a good bounce back is possible. If it breaks down then 18600 levels again.
PRE MARKET VIEW:
Yesterday Bank Nifty had a sharp recovery from the low of 18610 spot and 18660 futures levels. Currently both bullish and bearish possibilities prevail key level being 19000
Bearish View:
Resistance at 19050 -19100 spot levels would drag it down towards 18900 - 18850 -below which it would reach 18600 levels again - as per
1. the B wave scenario.
2. on Break of 18900 - it would fall back into the braodening wedge taking it to lower levels.
Bank Nifty Spot has reached the support level of 18850 low today. If Supported, then a good bounce back is possible. If it breaks down then 18600 levels again.
PRE MARKET VIEW:
Yesterday Bank Nifty had a sharp recovery from the low of 18610 spot and 18660 futures levels. Currently both bullish and bearish possibilities prevail key level being 19000
Bearish View:
Resistance at 19050 -19100 spot levels would drag it down towards 18900 - 18850 -below which it would reach 18600 levels again - as per
1. the B wave scenario.
2. on Break of 18900 - it would fall back into the braodening wedge taking it to lower levels.
July 20, 2012
Analysis for July 20
BANK NIFTY WEEKLY CHART UPDATE:
Close below the TRENDLINE would pull Bank Nifty further down near the Base of the Triangle formed - and the Lead indicator alsois in favour of it.
If supported then, a very Big upmove is possible as the pattern is an Inverse H&S with slope tilting dwonwards. The Breakout will be very sharp.
ANALYSIS FOR JULY 20:
Nifty did not show strength in the upmove yesterday terminating at 50% retracement at 5258. The Breakout from the Falling wedge (CLICK HERE) was resisted by a channel.
Week Chart:
The Lead indicator has turned down and the break down of the Low of 5170 would be a channel breakdown, below Week 5 EMa, Day LEMA and 100 DMA.
With an EOD close below the week 5EMA 5220 and Day Lema of 5209, Nifty would get Bearish. The Longs are to be terminated at such a juncture.
Sell @ 5165 ranges with SL 5190-5220 EOD close.
Close below the TRENDLINE would pull Bank Nifty further down near the Base of the Triangle formed - and the Lead indicator alsois in favour of it.
If supported then, a very Big upmove is possible as the pattern is an Inverse H&S with slope tilting dwonwards. The Breakout will be very sharp.
ANALYSIS FOR JULY 20:
Nifty did not show strength in the upmove yesterday terminating at 50% retracement at 5258. The Breakout from the Falling wedge (CLICK HERE) was resisted by a channel.
Week Chart:
The Lead indicator has turned down and the break down of the Low of 5170 would be a channel breakdown, below Week 5 EMa, Day LEMA and 100 DMA.
With an EOD close below the week 5EMA 5220 and Day Lema of 5209, Nifty would get Bearish. The Longs are to be terminated at such a juncture.
Sell @ 5165 ranges with SL 5190-5220 EOD close.
| Developing Week Levels | |
| CLOSE | |
| PIVOT | 5223 |
| HI EMA | 5266 |
| LOW EMA | 5143 |
| 5 EMA | 5220 |
| 10 EMA | 5179 |
| PrevHigh | 5258 |
| Prev Low | 5169 |
| CHECK LIST-DAY | |||
| CLOSE | 5243 | 5 SMA | 5215 |
| PIVOT | 5245 | 5EMA | 5229 |
| HI EMA | 5253 | 10EMA | 5237 |
| LOW EMA | 5209 | 13EMA | 5234 |
| prev HI | 5258 | 20 Hr MA | 5215 |
| prev LOW | 5233 | 50 Hr MA | 5241 |
| 10 DMA | 5256 | 100 Hr MA | 5268 |
| 20 DMA | 5235 | 200 Hr MA | 5195 |
| 100 DMA | 5167 | ||
| 200 DMA | 5093 |
June 13, 2012
Analysis for June 13
Intraday Update:
Partbooked at 5135NF. Only 25% longs are remaining with SL EOD close Below 5100NS Day HEMA.
Intraday Update 1.15 PM:
A bearish Bat pattern is almost complete in Bank NIfty.
BEARISH BAT PATTERN:
XA -10645 - 8995
B - 9783 - approx 44.7% retr of XA
C - 9110 - 85.4% retr of AB
Projection for D:
9870 - 113% retr of BC
127% retr of BC - 9965
141.4% - 10061.62
161.8% - 10198.91
The 161.8% retracement - 10198.9 is achieved now. -ve divergence is also exhibited. Caution required in Longs now.
If this level is surpassed and bank Nifty closes above 10200 levels at EOD more upsides will be possible upto the next retracement level of:
200% retr -10456 and
224% - 10617. - For this levels to achieve NIFTY must close above the 100 DMA at EOD.
ANALYSIS FOR JUNE 13:
Nifty has closed well above the Week and Day Hema, and 5 EMA. Holding above the Day HEMA, it is likely to reach upto 100 Dma -5180-90.
The Bullish 5-0 Harmonic pattern (CLICK HERE) is continuing and the initial projection of 161.8% comes to 5174 - near 100 DMA. If resisted at this level, then as per pattern, a 50 % retracement for the rise from 4770 - 5174 approx - 4975 - 5000 levels is to be expected.
If Nifty moves past the 100 DMA, then the next likely resistances are 5200 - ( Refer Weekly Harmonic Chart above) 50% of the retracement of AB surpassing it, then 5300 levels. This corresponds to the 224% retr of the Day chart.
Day Bar chart: A Huge Bullish engulfing candle is formed with a Trendline breakout.
SYNOPSIS: Holding the Day HEMA the upmove would continue upto 5175-95 levels. Surpassing these levels and an EOD close above 100 DMA would lift Nifty to 5275-5300 levels.
Part booking at 5175-90 levels would be a prudent measure.
AGGRESSIVE shorts can be initiated at the same levels with Strict SL of 5205NS. If EOD close is above 100 DMA then the shorts must be terminated and Longs to continue with revised SLof 100 DMA.
Partbooked at 5135NF. Only 25% longs are remaining with SL EOD close Below 5100NS Day HEMA.
Intraday Update 1.15 PM:
A bearish Bat pattern is almost complete in Bank NIfty.
BEARISH BAT PATTERN:
XA -10645 - 8995
B - 9783 - approx 44.7% retr of XA
C - 9110 - 85.4% retr of AB
Projection for D:
9870 - 113% retr of BC
127% retr of BC - 9965
141.4% - 10061.62
161.8% - 10198.91
The 161.8% retracement - 10198.9 is achieved now. -ve divergence is also exhibited. Caution required in Longs now.
If this level is surpassed and bank Nifty closes above 10200 levels at EOD more upsides will be possible upto the next retracement level of:
200% retr -10456 and
224% - 10617. - For this levels to achieve NIFTY must close above the 100 DMA at EOD.
ANALYSIS FOR JUNE 13:
Nifty has closed well above the Week and Day Hema, and 5 EMA. Holding above the Day HEMA, it is likely to reach upto 100 Dma -5180-90.
The Bullish 5-0 Harmonic pattern (CLICK HERE) is continuing and the initial projection of 161.8% comes to 5174 - near 100 DMA. If resisted at this level, then as per pattern, a 50 % retracement for the rise from 4770 - 5174 approx - 4975 - 5000 levels is to be expected.
If Nifty moves past the 100 DMA, then the next likely resistances are 5200 - ( Refer Weekly Harmonic Chart above) 50% of the retracement of AB surpassing it, then 5300 levels. This corresponds to the 224% retr of the Day chart.
Day Bar chart: A Huge Bullish engulfing candle is formed with a Trendline breakout.
SYNOPSIS: Holding the Day HEMA the upmove would continue upto 5175-95 levels. Surpassing these levels and an EOD close above 100 DMA would lift Nifty to 5275-5300 levels.
| Trade Table | ||
| Current pattern | X-A | B(current) |
| 0-5 pattern and Butterfly pattern (week) | 4804 - 5020 | 4770 |
| Trade initiated | SL Day HEMA - 5078 | |
| Bought at 4830NF on june 4 | Proj for C | |
| 113.00% | 5052.00 | |
| 161.80% | 5174.00 | |
| 224.00% | 5330.00 | |
| Partbooked at 5030 NF on june 7 |
Part booking at 5175-90 levels would be a prudent measure.
AGGRESSIVE shorts can be initiated at the same levels with Strict SL of 5205NS. If EOD close is above 100 DMA then the shorts must be terminated and Longs to continue with revised SLof 100 DMA.
| Week Levels | |
| CLOSE | 5068 |
| PIVOT | 4974 |
| HI EMA | 5072 |
| LOW EMA | 4850 |
| 5 EMA | 4986 |
| 10 EMA | 5046 |
| PrevHigh | 5084 |
| Prev Low | 4770 |
| CHECK LIST-DAY | |||
| CLOSE | 5116 | 5 SMA | 5057 |
| PIVOT | 5087 | 5EMA | 4962 |
| HI EMA | 5078 | 10EMA | 5005 |
| LOW EMA | 4986 | 13EMA | 4993 |
| prev HI | 5129 | 20 Hr MA | 5068 |
| prev LOW | 5015 | 50 Hr MA | 4981 |
| 50 DMA | 5086 | 100 Hr MA | 4955 |
| 200 DMA | 5063 | 200 Hr MA | 4954 |
| 100 DMA | 5192 |
February 9, 2012
Analysis for Feb 9
Bank Nifty Hour Chart :
Intraday Update 12.10 PM:
Rising wedge in Hour chart BankNifty:
Intraday Update 10.30 AM:
Rising Wedge in BN day charts - breakdown Point below 10200.
ANALYSIS FOR FEB 9:
Nifty has closed above the Day Pivot and Day Hema exhibiting strength. Weakness below the Day Hema/Day 5EMA. Persistence -ve divergence are seen in Day and Hour charts. For any Fall - Nifty must close below the 5DEMA.
The Bearish Shark pattern is still continuing.
Holding above the Trend Line - Nifty is Likely to reach the Targets upto,
161.8% - 5450
113% of OX - 5498
Any Dips upto the WEEK HEMA 5225 or upto Month High EMA at 5286 would be Huge supports.
Weakness in Week TF/month TF only below 5225/5286.
TRADING RANGE BETWEEN 5400 - 5285.
From the Previous Low of 5087 to 5413 - the Retracements to be watched are :
Intraday Update 12.10 PM:
Rising wedge in Hour chart BankNifty:
Intraday Update 10.30 AM:
Rising Wedge in BN day charts - breakdown Point below 10200.
ANALYSIS FOR FEB 9:
Nifty has closed above the Day Pivot and Day Hema exhibiting strength. Weakness below the Day Hema/Day 5EMA. Persistence -ve divergence are seen in Day and Hour charts. For any Fall - Nifty must close below the 5DEMA.
The Bearish Shark pattern is still continuing.
Holding above the Trend Line - Nifty is Likely to reach the Targets upto,
161.8% - 5450
113% of OX - 5498
Any Dips upto the WEEK HEMA 5225 or upto Month High EMA at 5286 would be Huge supports.
Weakness in Week TF/month TF only below 5225/5286.
TRADING RANGE BETWEEN 5400 - 5285.
| CHECK LIST-DAY | |||
| CLOSE | 5368 | ||
| PIVOT | 5363 | 5 SMA | 5198 |
| HI EMA | 5359 | 5EMA | 5323 |
| LOW EMA | 5284 | 10EMA | 5254 |
| prev HI | 5397 | 13EMA | 5215 |
| prev LOW | 5325 | 26EMA | 5048 |
| 20 DMA | 5107 | 20 Hr MA | 5363 |
| 200 DMA | 5192 | 50 Hr MA | 5283 |
From the Previous Low of 5087 to 5413 - the Retracements to be watched are :
| 23.60% | 5336.06 | Day 5EMA |
| 38.20% | 5288.47 | Month HEMA |
| 50.00% | 5250.00 | Week High EMA |
December 16, 2011
ANALYSIS FOR DEC 16
DIAmond pattern update:
Bank Nifty 5min futures Diamond pattern:
Breakout above 8570-90 BNF. Breakdown below todays low of 8431.
Bank Nifty 5min futures Diamond pattern:
Breakout above 8570-90 BNF. Breakdown below todays low of 8431.