Nifty Bank weekly analysis 01-11-2021 to 05-11-2021

 A candle a day:

According to Fibonacci retracement and due to bearishness of the Nifty bank we can see the levels of 37000 or below. Even after the good results posted by banks and global cues are positive; FII continued the selling and that selling pressure may continue next week. Lockdown in China and in many parts of India may leads to this selling pressure.

 

A candle a week:

Fibonacci retracement is used when market is running all time high. The recent intraday fall of 1500 point in Nifty bank causes panic in the market among retail traders and investors. We may see the levels of 37000 in quick time. The candle pattern at the upper level in very bearish. The big red candle ate the small green candle.

 

A Candle a month:

The candle formed by October month is mild bearish and rejected the level of 42000 as 41800 is a Pivot resistance on monthly basis. Take only bearish trade till any good news came or let the market decide the upward direction with any bullish candle, bullish candle stick pattern or bullish structure. Also, focus on the SBI result on 3rd November after 12:00 PM for the breakout or upside fast movement.

 

NOTE: Due to Diwali/Deepawali expiry is on 3rd November (Wednesday), Muhurat Trading on 4th November with the expiry of 11 November (Thursday) (Time: 6:15 pm and 7:15 pm) and 5th November is Holiday due to "Diwali Balipratipada"

Niftybank intraday trading levels 29-10-21

Nifty bank 1 hour a candle:

1. Nifty bank will be bullish above 41350; Oh! yes very far, because of the 1500+ points fall in Nifty bank from the day's high to low.

2. Nifty bank will be bearish below 39350; be cautious because Nifty bank is at "Support Zone 1"; it can bounce back as global market are positive.

3. Avoid trading in "No trading Zone"; also known as STOP-LOSS hunting zone for STOP-LOSS hunters. Better to avoid trading for Friday i.e. 29-10-2021.

4. Nifty bank may bounce back sharply from "Strong Support Zone 1" or "Strong Support Zone 2"; use "Buy on dips" strategy with small quantity.

Niftybank intraday trading levels 28-10-21

Nifty bank 15 minute a candle:

1. Nifty bank will only be bullish above 41350-41400 levels, wait for a 15 minute green candle to close above the mentioned levels, then you can trade for upward fast movement till 41800-42000 levels.

2. Nifty bank wil only be bearish below 40750-40700 levels, wait for a 15 minute red candle to close below the mentioned levels, then you can buy ATM PE for downward fast movement till 40500-40200 levels.

3. Nifty bank has made a bearish structure wedge pattern, it means we can see downfall but cannot say because most of the banks are posting good results. Hope that market will touch all time high before Diwali/Deepawali festival.

Niftybank intraday trading levels 27-10-21

1. Nifty bank is bullish above 41350; Axis bank has posted great results, let see how market react to it.

2. Nifty bank is bearish below 40900, which I do not expect but cannot say anything due to last trading day. 

3. Do not be hustle to trade, let the market settle to some level then trade.

Niftybank intraday trading levels 26-10-21

 Nifty bank 15 minute a candle:

1. Nifty bank will be bullish above 41650; as ICICI bank posted good Q2 results and today, Axis bank and Kotak bank will post their Q2 results. I am expecting good results.Let see.

2. Nifty bank will be bearish below 41050; I am not going to trade on bearish side as it might be a trap the new traders because market is bullish but closed the market on bearish sentiment at the fag end, yesterday. So be cautious.

3. Follow the thin red line for the support;

4. Market is bullish do not go for PUT(PE);

5. Avoid trading in bearish side, it's a trap;

 

Niftybank intraday trading levels 25-10-21

 Nifty bank 15 minute a candle:

1. Nifty bank will be bullish when crosses 40500 levels. Focus on ICICI bank and Axis bank movement to track and confirmation for the trade to take. Many banks posted good results. ICICI bank has posted good results and Axis bank going to declare the result, today.

2. Nifty bank will be bearish if it breaks 40200 levels. Well, Nifty bank is looking stronger than Nifty 50 index but we can not say about the downfall. Nifty bank has to reach 45000 levels before any major correction. 

3. For risky traders, follow the Orange trend line, 15 minute candle closes above the trend line then you can buy ATM CE with small quantity and wait for a candle to cross 40500 levels, then you can add more to it.

Nifty Bank weekly view 25-10-21 to 29-10-21

A Month a candle:

Nifty bank is very bullish and aiming to reach 45000 levels, as it has under-run respected to Nifty 50 index, which is in bearish mode but respecting the support of 18050 levels. The candle formed by October month is Marubozu candlestick, which means Nifty bank is very bullish. The recent result published by ICICI bank is good and will support the Nifty bank to reach new highs. Also, focus on the upcoming result of Axis bank on Monday (25-10-21) will have a major impact on Nifty bank.

 

A Week a candle:

Weekly candle is above 40000 levels and closed above 40200, so watch for the 40200 levels for bounce back if Nifty bank come close to 40200 levels. Fibonacci retracement also tells us that Nifty bank will achieve 47000 levels which is little difficult not impossible in the coming few weeks.

 

A Day a candle:

Day candle is rejected the 40500 levels and made green inverted hammer, so the Nifty bank will make a fast movement above 40500 levels, once break then you can expect 43000 levels in few days (next week only). 

 

Niftybank intraday trading levels 19-10-21

 Nifty bank 15 minute a candle:

 1. Nifty bank took a halt just below 40000 by opening big GAP-UP. If it has to cross 40000 (a psychological resistance) then it has to push some more or open GAP-UP.

2. Nifty bank will be bearish below 39600 to meet first target as 39350 then 39200 as second target and then third target will be 39000 levels.

3. Novice trader should be cautious while trading at higher levels; you will get shorter target or profit. Do scalping trade to get quick but small profit with small quantity.

4. Avoid trading GAP-UP or GAP-down, because these will act to trap newbie traders and weaker hands to be thrown out of the market.

Niftybank intraday trading 18-10-21

Nifty bank 15 minute a candle:

1. Nifty bank has broken the range with a BOOM and there it is now trading above 39000, it is looking very bullish to achieve the target of 39800, 40500  and, 40900 in this week. I am expecting Niftybank will achieve 39800, today only, if it moves above 39375 with a bullish candles breaking and making higher highs. Today, I am not at the bearish side as Global queues are positive.

2. Traders can buy ATM CE, if Nifty bank trade above 39375 with stoploss of 80 points, only to make decent profit of 3X or 4X or more as compared to  stoploss. You have to focus on the movement of HDFC bank, also because it has posted good result and Nifty bank will move according to it. If other banks also support then Nifty bank will achieve 40500, today (let see).

3. Nifty bank has to be avoided in no trading zone and turn-around zone, if open GAP-DOWN, wait for a range to break with a bullish candle and then trader with small quantity until it breaks 39375 then you can increase the quantity as per your wish. My advice is to avoid trading below 39000.

4. Nifty bank will be mild bearish is trade below 38900, but I an not expecting that. But if it breaks 38600 then you can go for bearish side trade.

Nifty Bank weekly view 18-10-21 to 22-10-21

A day a candle:

Nifty bank has broken the parallel channel as we have discussed last week (11-10-21 to 14-10-21) on daily candle. Now, Nifty bank is ready to make higher highs on daily basis as global financial news are good and banks are expected to give positive result. Focusing on HDFC bank, ICICI bank, Axis bank results. As per Fibonacci retracement, it seems that 45000 levels will be seen in the next month or so. If 45000 levels seen in this month of October before expiry then there will be hefty selling pressure.

A week a candle:

Nifty bank has given a breakout from the resistance of 38000 levels and even crossed 39000 levels in last week. As per my expectation, Nifty bank will touch the levels of 42000-43000 in coming weeks after taking a pause at 40000 levels (a big resistance). Be cautious at 40000 levels because profit booking may come at this big hurdle.

A month a candle:

Nifty bank has broken the range of 38000 levels and crossed 39000 and made a new high. Be ready for the action in the coming days because Nifty bank will hit new highs on daily/weekly basis. According to me Nifty bank will touch 42000-43000 levels in the next two weeks, within this October month, only. 

Niftybank intraday trading 14-10-2021

Nifty bank 15 minute a candle:

1. Nifty bank will be bullish above 38800 but MAXPAIN data shows the expiry will be near 38600 levels. It seems that in this expiry Nifty bank is not going to cross and close above 39000 but it may touch 39000 levels as there are maximum open interest as per weekly expiry 14-10-21, we can see selling pressure from there or close below 39000.

2. Nifty bank will be bearish below 38500 but there are many hurdles of 38350 then 38150, so there will be small profit.

3. No trading zone between 38600 and 38500.

4. Avoid trading in bearish side.

5. It if better to sell the 39000 CE (1 lot); you can use Call Spread strategy to minimize the margin.

Niftybank intraday trading 13-10-2021

 Niftybank 15 minute a candle:

1. Nifty bank will again be bullish when crosses 38600 as 38500 is a break-out level. Now, we can see the levels of 40000 in coming week.

2. Nifty bank will be mild bearish below 38375 as there are many candles supporting the level, therefore, it can be seen as bounce-back level for fast upward movement. Look for the bullish candle or price action at this level for bounce-back.

3. Nifty bank will be bearish below 38150 level, which can lead till 37700 level, then 37350 or 37000, which I do not expect, at least for today.

4. There will be no trading zone between 38375 and 38150, you can be trapped in the volatile movement. So, avoid trading in this zone or gap-down at the mentioned levels.

Niftybank intraday trading 12-10-2021

Niftybank 15 minute a candle:

1. Niftybank will be bullish above 38400 but risky traders can see the price action at the level of 38265 (Orange line) and it should be above thin red trend line.

2. Nifty bank did not sustain the level of 38400, yesterday but it is bullish because it has not broken the significance level of 38100. If broken today, then you can see the downfall till 37700 levels.

3. Newbie traders can avoid trading in the range of 38100-38350.

Nifty bank intraday trade 11-10-21

 Nifty bank 15 minute a candle:

1. Nifty bank will be bullish above 38100 by breaking with big volumes because Nifty bank is retraced many time from this level.

2. If Nifty bank opens flat and moves up wards crossing the level of 37850, then you can go for CE with little quantity for little profit.

3. Nifty bank will be bearish below 37650, but it seems a big support. If it breaks downside then we can see selling pressure till 37300 levels.

 

Nifty Bank next week view 11-10-21 to 14-10-21

A week a candle:

Nifty bank has to give a break out above 38100 level and sustain for further up move after clearing the level of 38400, otherwise we can see the levels of 35000-36000 in short term depending on the Q2FY22 results. First, HDFC Bank is declaring its result on 16-10-2021 (Saturday). Therefore, before 16-10-2021, Nifty bank has to sustain above 38100 and if above 38400, then it will be awesome to pick the GRAND move of this year. According to me, Nifty bank will consolidate between 38000 and 37300/37000 in the coming week.

 

 

 

A day a candle:

Look for the zig-zag of the Nifty Bank and it is sustaining above 37700 levels means it is mild bullish, if above 38100 then it will be strongly bullish to achieve 39000 levels in a day, but below 37300, it will be mild bearish and if breaks 37000 then strong bearish; selling pressure can be seen. According to me, Nifty bank will consolidate between 38000 and 37300/37000 in the coming week.

 

 Another view: A day  a candle:

 

 

A candle an hour:

Nifty bank intraday trading 07-10-21

1. Nifty bank is expected to open GAP-UP according to SGX Nifty at 08:00 AM IST, so watch out for the level of 37700 for Bullish sign and then trade.

2. If reject the level of 37700 with bearish sign, then do not trade, it might be a trap.

Nifty bank intraday trading range 06-10-21

 Nifty bank 15 minute a candle view:

1. Nifty bank has given a break out from the level of 37500 and inching towards 38000 levels, but there is big hurdle of consolidation between 37900-38050 range, which is a no trading zone so avoid trading in this zone.

2. Nifty bank will be bullish above 38050 levels after few candles of consolidation. If it breaks without consolidation then do not go for trade, immediately. Wait for the confirmation that breakout is valid or fake.

3. Nifty bank will be bearish below 37600 levels, immediately, but there is no sign of bearishness in the market or global sentiment. What I think Nifty bank will achieve 38500 levels in this week, only (lets hope so).

4. If Gap-up or Gap-down, please avoid trading and wait for the market to give some confirmed signal.

Nifty bank intraday trading view 05-10-21

 Banknifty 15 minutes a candle:

1. Nifty bank will be bullish above 37673 level as per market sentiment it is bullish. You can go for upside trading if it crosses the level of 37673, at once and take advantage of short covering. This trade is valid when market opens flat and goes towards 37673 level.

2. Nifty bank will be bearish below 36400 level but the market sentiment is bullish, so bearish side trading is not recommended.

3. If Nifty bank opens GAP-UP above 37700 levels then wait for the opportunity.

4. If Nifty bank opens GAP-down then avoid the trade.

 

Nifty bank intraday trading 01-10-2021

 Banknifty 15 minute a candle view:

1. Nifty bank is misbehaving between 37700 and 38000, so this will be our no trading zone because, Nifty bank reverses from any level.

2. Nifty bank will only be bullish above 38000 but as market sentiment, I do not recommend to go for buy side/upside until it crosses 38000.

3. Nifty bank will only be bearish below 37300 but for the past few days, Nifty bank reverses to upside levels. If Nifty bank take support of 37300 levels with a 15 minutes bullish candle with a follow up candle then go for buy side/upside. But if a 15 minutes candle close below 37300 levels with bearish sign then buy ATM PUT for fast downside till 37000 or if sustain 37000 level then 36500 levels will be seen.