Niftybank & Nifty 50 trading levels for 26-11-21

Nifty bank: 15 minutes a candle

1. In today's trading session, Nifty bank close around 37350 after a volatile intraday session. Nifty bank has taken support of RED trendline during the day and trying to go up. It will be bullish only above 37500 level and sustain for few minutes to see good upward rally till 37800 and then 38000. If Nifty bank opens gap-up above BLUE trendline and sustain for 15 minutes then you will see upside movement very fast due to short covering.

2. Nifty bank is already in bearish mode because whenever it tries to go up then profit booking happens. For tomorrow's intraday session, it will be bearish below 36900. For risky traders, below RED trend line it will be good to enter the trade as per your risk. If Nifty bank opens gap-down around 37200 levels then do not trade, it might be a trap for bearishness, wait for the range and trade the range, accordingly.

Nifty 50: 15 minutes a candle

In today's session, Nifty 50 closed above 17500 level and tomorrow, if it sustain for 15 minutes or more then you will see upside rally till 17750. Nifty 50 has recovered due to good news in Reliance and other heavy-weight stocks are in upside mode due to short covering or profit booking for short positions. If Nifty 50 opens gap-up above 17600 level then wait for the momentum (upside or downside) then trade, accordingly because 17600 is the deciding level for upside or downside. It will be bearish below 17450 and if it opens gap-down then wait for the range and trade the range, accordingly.

Weekly multi-timeframe analysis of Nifty 50 22-11-21 to 26-11-21

Nifty 50: a week a candle

Nifty 50 is looking weak as it closed below 17800 and right now taking support of ORANGE trend line. Nifty 50 is weak due to heavy-weight stocks like Reliance, HDFC Bank, etc., their chart is not looking bullish and shows signs of bearishness. If Nifty 50 is unable to close above 17800 then you can see the levels of 17650-17500 by taking support of RED trend line and if it breaks the RED trend line then you can see the free-fall of Nifty 50 to test the levels of 17000 or 16000 as per Fibonacci retracement. Nifty 50 is taking resistance of the BLUE trend line which is a level of 17800-18000 which is decisive for "MAKE or BREAK" level. The Elliot wave is showing bearish structure in Nifty 50 from its high.

 

Nifty 50: a day a candle

 In day chart of Nifty 50, the Fibonacci retracement is showing the levels of 17000 and 16000, the reason behind it is that the Nifty 50 never test these levels before going up. So, it is understandable that Nifty 50 will test these levels in coming months (not weeks). It is taking support of RED trend line and if it breaks then the levels of 17500 or more can be seen in next week, only. To make Nifty 50 in bullish trend, it has to close above 18000 levels and consolidate for few days, then we can see the upside rally, but it seems so that bearishness will continue to test the mentioned levels.

 

Weekly multi-timeframe analysis of Nifty bank 22-11-21 to 26-11-21

Niftybank: a week a candle

Nifty bank is following the RED trend line on weekly basis. If breaks the trend line and closed below 37500 then you will see the levels of 36000. As per the last week's analysis, we have analyzed and expected the downfall to see 37000 levels, so, we have seen the mentioned levels. Nifty bank is bearish due to tapering and market is expecting the rate hike by US Federal Reserve which is causing this bearishness in the market. Let see, what will happen in the last week November or first week of December. The Fibonacci Retracement tool is also suggesting the levels of 36000 but it is purely depends on the RED trend line, if breaks and close below 37500 then only you will see the 36000 levels.

 

Niftybank: a day a candle

Nifty bank is on the verge of "MAKE or BREAK" level, as Nifty bank is taking support of Red trend line and if it breaks and sustain below it then you can see the levels of 36000 in the next week, only. The Elliot wave is also signalling the downfall. Nifty bank has to retrace from 38000 levels and has to close above 39000 levels to become bullish but it seems too tough for the market as many traders and investors are becoming panic due to continuous selling of FIIs (Foreign Institutional Investors)

Niftybank and Nifty 50 intraday trading levels 15-11-21

Nifty bank: 15 minute a candle

1. Nifty bank will become bullish above 38825 and sustain for sometime to achieve the target of 39100 and 39500, but the movement can be slow.

2. Nifty bank will become bearish below 38475 and sustain for few minutes to achieve the target of 38000 or more, movement will be fast.

3. Risky and professional traders can enter the trade, early, if Nifty bank crosses the Red trend line, then they can buy ATM PE/PUT.

 

Nifty 50: 15 minute a candle

Nifty 50 is in bullish trend and will continue it's bullish trend if crosses 18120 level otherwise it will make a range between 18000-18100. It will be bearish below 17800 but risky traders can enter the trade early when crosses the Red trend line and the buy PE.

 

Nifty 50 weekly view 15-11-21 to 19-11-21

A week a candle:

Nifty 50 has made a bullish dragon-fly candle stick pattern after taking the support of 17800 levels and also, crossed and closed the last trading day's green candle, which indicate the sign of bullishness in coming days. If you see the Third-last big red candle and Second-last small green candle, they show the pattern of "Inside bar" or "Bullish harami" candle pattern and last green dragon-fly candle confirmed the bullish sentiment. The traders can make new position with the target of 18500 to achieve till expiry.

 

A day a candle:

Nifty 50 followed everything: the support of 17800, above blue trend line, crossed and closed the last swing high as per the Elliot wave theory, etc. which indicated the sign of bullish sentiment in coming days or so. New positions can be made because the Futures data shows the bullish nature of Nifty 50, voluminous Futures has been bought on Friday i.e. 12-11-21. You can see the target of 18500-18600 levels, if there is nothing bad happens.

 

Niftybank and Nifty 50 intraday trading levels 11-11-21

 Nifty bank: 1 hour candle

1. Nifty bank will only be bullish for fast upward movement when crosses the Blue trend line and sustain for more than 15 minutes. Then we can see the target of 39500 and 41000. Keep your eyes on the change in open interest for short covering.

2. Nifty bank host the fort of 39000 levels, if the breaks 38900 and sustain for more than an hour then we can see the slow downside till 38500, which I am not expecting but we cannot say anything in the market to happen.

 

Nifty 50: 30 minute candle:

At last Nifty 50 crosses the 18000 level, sustained, re-test and close above 18000. If Nifty 50 open around 18000, then we can the short covering with upside movement till 18200-18300.

Niftybank intraday trading levels 09-11-21

 Nifty bank 15 minutes a candle:

1. 39000 act as strong support today in Nifty bank for intraday. But Nifty bank make turn around from any levels below 39000 till it does not breaks 38450. If crosses then Nifty bank will be bearish for short-term or a week till expiry.

2. Nifty bank will be bullish above 40000 for short range or little profit. But it has to cross the Blue trend line.

 

 

Nifty 50 view:

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.

 

Banknifty weekly analysis and intraday trade setup for Monday 13-09-2021

BankNifty weekly overview:

Banknifty rejecting the levels of 36500 (major support) and 37000 (major resistance). Banknifty is just consolidating after breaking the levels of 36500 (upside) or breaking the parallel channel upside. 

But it is still facing the resistances on 37000 levels. For the major up move Banknifty has to close a DAY-candle above 37000 and give a follow-up candle (a green candle above 37000 and closing above the high of the previous day candle), then Banknifty will give 1000-1200 points intraday.

But if it breaks the 36500 levels below (which is I am expecting, any day), then give a follow up candle closing below 36000 levels, then panic selling will be starting which will bring Banknifty to 35000-34500 levels in intraday.

 

Banknifty intraday trading chart for 13/09/2021. 

For intraday 36800 level upside is acting as a major resistance (GREEN LINE) and 36500 levels downside is acting as a major support (RED LINE).

The trend lines (BLACK LINE and RED LINE) are making a wedge pattern (Read here...). Breaking the BLACK LINE with 15 minute candle will make it bullish. And breaking the RED LINE with 15 minute candle will make it bearish but there are many supports between 36000 and 36500 (like 36400 and 36200).