Banknifty today Analysis Unveiling Market Insights:
03-05-2024
we almost hit our target Price of 50,000; Precisely 49971.
49960 was GANN Number which has worked as resistance for reversal.
CMP : 49396;
This indicates the consolidation in the Market till this cross 50,000 Mark.
18-04-2024
Market is consolidating near 47300. Need to play based on support mentioned on the Chart.
Market will be directionless for time being now.
Market is still under observation. Next support is 46900 and 46720.
16-04-2024
Banknifty opened below 48200 and closed at GANN Support 47740.
Long Term structure of higher High is still intact on Daily/weekly Chart.
After current support, next support available is 47520-47300-46900
Lets wait patiently the market trend and play accordingly.
Note that 48200 was major Support, which got broken. So downward or consolidation is expected at current market.
15-04-2024
Market got closed just below support of 48600
CMP: 48564
On broad Range, Higher High is intact till 48200, which is a good support level.
GANN: 48620
So today work is to Observe the price..
world Market is neutral
if Price goes above 48640, buy it blindly
or if going down, wait till 48200 and there make a small buy position
12-04-2024
Huge negative pressure from international Market.
till the time market is above 48600, there is no risk of cracking this market.
lets keep close watch today.
10-04-2024
Rally Continues…with SL of 48600
lets go to 50000
09-04-2024
CMP: 48581
Trend is still Positive and if close above 48640 and stay.. trend will convert into super fast positive
till the time.. keep yourself on Pause and enjoy the show watching from distance.
as discussed yday. market consolidated for whole day on 8th around 48620.
if price is not sustaining above 48640, be ready for correction like going towards 48400 and dipper..towards 47500 as well..
08-04-2024
CMP : 48524;
Next GANN Number : 48621
GAN Number is colliding with BN All time High.
Even BN is still in Uptrend, now time is to do little Pause and wait to stabilise price above 48640
Above 48640, Bullish will continue.
But I am sensing Pause here for time being near to 48610-48650 and then BN may get reversed.
Here recommendation is to wait n Watch on Above shared position.
05-04-2024
Positive trend continue. Now buy 48000CE and ride it.
Risk is very Less, Keep the SL of SPOT 48150
04-04-2024
Today market trend is positive,
if break 47740, will easily touch 47950
else this will keep trading near 47500 for the day
play accordingly
Buy 47700CE and enjoy the ride
03-04-2024
Keep Eye on 47740.. and
Once 47500 breaks, can go down to 47300 today
02-04-2024
47650 to 47740 ( GANN Digit) is resistance Zone, once this passed, this will easily go to 48100
Below 47400, reverse will be started till 46900..
So Watch 47400 and 47740. Plan your strategy accordingly.
01-04-2024
On Daily Chart, BN is still in HH and HL mode, its complete Bullish structure. Support and resistance are marked in the Chart.
with 46,720 as SL, one can easily take longer term Bet once price cross 47265 and stay for 15 Min for the target – 48,300.
for Short term trade –
In 15 Min Chart, 46900 Is going to be good support and thereafter, next support is 46632.
Immediately resistance is 47,420 and hereafter 47524 (GANN Line)
One can bet with 46900SL for the Target of 47500..
Note* I am not a SEBI Certified Advisor, so you must take all precautions while following these studies.
Option Strategy for tomorrow:
Sell 47800 CE and hedge with 48500CE
Sell 46900 PE and hedge with 45000 PE
Activate this at 916 and exit by 1100