Nifty Bank weekly view 15-11-21 to 19-11-21

 A week a candle:

On weekly candle basis, Nifty bank is following and taken the trend line as support. If has rejected the level of 38500, twice. It is suggested that let the market decide the up-move or down-move, then trade accordingly. Due to festive season, many retail traders and investors, FII and NII, took out some money from the market, that is why we see the downfall. But new investment has begun as Futures data of Nifty bank is strong and voluminous Futures has been bought on Friday trading session i.e. 12-11-21.

 

A day a candle:

Nifty bank is at the verge of "MAKE or BREAK" level. If it trades above 39000 then we can see the first target of 40100 levels and then it may take a pause for more upside. If it breaks the level of 38400 and trade below this then we can see the fast downside movement till 37500 levels or more. But it is not recommended to trade downside except for risky and professional traders. Market has made an "Inside candle" pattern or "Bullish Harami" candle stick pattern which means market will be bullish if it crosses and sustain the last day's higher price of the candle. If it crosses the lower price of the candle then bearish sentiment. But yes market is at the Red trend line support and rejected it and made a green bullish "Dragon Fly" candle; so if market crosses and sustain above the Blue trend line then risky traders initiate buying CE.

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.

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 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.

Banknifty weekly analysis of 20-09-2021 to 24-09-2021

Banknifty Daily View (a day a candle): 

Banknifty is trading above 37500 levels, exactly at 37800. But in the last trading day it resists 38100 levels and goes down to 37450 levels. Banknifty may consolidate for few days between 38050 and 37450 levels. If breaks either 38050 levels then we can see blasting up move of 700-800 points or breaks 37450 levels then we can see downfall of 750-850 points.

 

 

Banknifty Weekly View (a week a candle): 

On weekly basis, Banknifty is trading above the BLUE trend line and has Bullish view in short term. It seems that Banknifty will go up to 40000-42000 levels in the near short term (this month or the next month i.e. October). The maximum Call OI has developed on the levels of 38000 levels, if Banknifty trades above it then we can see drastic short covering which will take the Banknifty to 39000 levels in the next week. Banknifty will be only Bearish when it breaks the RED trend line i.e. 36500-36000 levels.