Banknifty future Live 11 July 2023 : Maximizing Returns with Elliott Wave Analysis

In this article, we provided a detailed account of our observations in Banknifty future Live market trading. We highlighted the specific points we considered for our trades and how we successfully captured a 300+ point move within the same trading day. Our approach emphasizes the simplicity of trading when one follows the right direction of the market, and we firmly believe that Elliott Wave analysis serves as our reliable GPS in achieving this goal.

We understand the importance of practical application and continuous learning, which is why we provide live market analysis on a daily basis. By studying real-time market scenarios after reading the theory in books, traders can enhance their understanding and skills. We value your feedback tremendously, as it helps us identify areas for improvement and motivates us to deliver even better articles every day.

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15.30 PM: This month performance based on elliott wave

Banknifty future july performance

15.30 PM: Capturing a 300+Move in BankNifty Futures

BankNifty futures hit a low of 44,786 (magical number 786) after we identified short positions near 45,110. This led to capturing a significant 300+ point move in intraday trading. Below is the Elliott wave count on a 1-minute chart: a 5-wave impulse completed at 45,180, followed by a downward zigzag correction in an ABC wave pattern. Wave B presented a favorable opportunity for shorting.

Banknifty future 1 min chart 15.30 11 july

14.40 PM: Capturing a 200+Move in BankNifty Futures

BankNifty futures hit a low of 44,900 (currently) after we identified short positions near 45,110. This led to capturing a significant 200 point move in intraday trading. Below is the Elliott wave count on a 1-minute chart: a 5-wave impulse completed at 45,180, followed by a downward zigzag correction in an ABC wave pattern. Wave B presented a favorable opportunity for shorting, anticipating a powerful Wave C decline. With the assistance of Elliott wave analysis, Fibonacci levels, and volume profiling, we successfully captured the 200-point move.

Banknifty future 200 point rally 11 july 2023

14.10 PM: Banknifty future Live century move captured 

BankNifty futures reached a low of 45,006 (up to the present moment) after we identified short positions near 45,110. This allowed us to capture a century move in intraday trading. It showcases the effectiveness of Elliott wave analysis, which empowers traders to adapt to the market instead of being influenced by emotions. The market follows predictable wave patterns, and avoiding emotional reactions aids traders in effectively navigating its movements.

Banknifty future 2pm 11 july

13.45 PM: Banknifty future elliott wave power

BankNifty futures made a low of 45,054 after we identified short positions near 45,110. Below is a 1-minute chart showing the Elliott wave count for intraday. A five-wave impulse wave completed at 45,180 near the 38% Fibonacci resistance level. The market is now undergoing a correction in a zigzag ABC wave pattern.

banknifty future 13.40pm 11 july 2023

 

12.35 PM: Banknifty future short triggered

banknifty future entry 11 july

12.00 PM: Banknifty range bound

  • Bull Bear fight at psychological level 45,000.
  • callt writers creating hurdle at 45200 level
  • Put writers creating support at 44800 level
  • Max Pain level observed at 45000 level
  • PCR at 0.82 (oversold)
  • Data Suggest be cautious in shorting  BankNifty Future at lower levels

Banknifty options 11 july 12pm

11.15 AM: Banknifty future near channel resistance

  • BankNifty Future is currently trading in a downward channel, forming lower highs (LH) and lower lows (LL) up to this point, supporting the bearish sentiment is still present at key levels.
  • Multiple hurdles exist on the upside:
    • channel Resistance confluence with 38% fibonacci level near 45170.
    • Significant obstacle at the 50% retracement level of 45280 (a big hurdle).
    • Golden Fibonacci resistance near 45390.
  • It is important to closely monitor the price action around these resistance levels for selling pressure.

Banknifty future 15min chart

10.10 AM: Banknifty Oversold

  • Bull Bear fight at psychological level 45,000.
  • callt writers still holding control at 45000 – 45200 level
  • Max Pain level observed at 45000 level
  • PCR at 0.71 (Highly oversold)
  • Data Suggest be cautious in shorting  BankNifty Future at lower levels

Banknifty options 11 july 2023

Risk Management:

Remember, no analysis is foolproof, and risk management is paramount. Ensure you set appropriate stop-loss levels and adjust your position size based on your risk tolerance and trading strategy. Always trade with discipline and adhere to your predetermined trading plan.

Disclaimer: The information provided in this analysis is for educational and informational purposes only. It should not be considered as financial or investment advice. Trading in financial markets involves risk, and past performance is not indicative of future results. Always conduct your own research and seek professional guidance when making investment decisions.

We highly encourage you to share your thoughts and opinions on the article by leaving a comment. Your valuable feedback serves as a great source of motivation, pushing us to improve our research and analysis techniques. Additionally, your comments help us gain a deeper understanding of your needs as readers, enabling us to deliver even more relevant and engaging content in the future. Your active participation and contribution through comments play a significant role in shaping the quality of our work. So please don’t hesitate to take a moment and share your insights, as they are greatly appreciated.

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