Banknifty Future Live Chart Analysis 12 July 2023

15.30PM : Banknifty future SL HIT

Today between 10 am to 2.45pm  banknifty future traded in a very narrow range . Post our entry made high near 44998 but missed to hit minimum expected target of 45080. Post 2.45pm our SL got hit. Market is Dynamic . Disciplined trader post entry keeps  SL and targets and stick with the plan till either of them hit.

BAnnifty sl hit

Below is the 1 min chart, today intraday our stoploss got hit.  Market didnt moved above 45000 level

Banknifty future sl

14.15PM :  Banknifty future in narrow range today

After 10 am banknifty future stuck in narrow range of 150-200 points thereby premium decay happening in options. call writers created a strong hurdle near 45000 level and put writers too created a strong support at 44700 and 44800 level. Experiencing narrow range as high oi is build up in near by strike price.

Banknifty option 2pm 12 july 2023

11.35 AM : Banknifty future Live chart analysis 15min

Based on the analysis of Bank Nifty futures in a 15-minute timeframe, it appears to be moving within a downward channel, characterized by lower highs and lower lows. The channel resistance is around 45050, and a break above this level could potentially lead to a move towards yesterday’s high and the 38% Fibonacci level at 45170.

On the downside, there is a support zone formed by a triple bottom pattern around 44820 to 44780. In the option chain, put writers are creating support near the 44700-44800 spot levels, indicating a potential area of buying interest.

It’s worth noting that the critical level to watch is 45000, as there is a high open interest (OI) from call writers at this level. If the price manages to surpass this level, it could trigger further bullish momentum.

Considering the intraday outlook, the analysis suggests the range is narrow down and or possibility of Bank Nifty to come out from this narrow range during intraday.

Banknifty future 11.30am 12 july 2023

10.45 AM : Banknifty future Buy triggered near 44950

BAnknifty future 12 july

10.30 AM : Waiting for “Buy on Dip” opportunity

The stock market is a vast ocean of opportunities, and waiting for the ideal entry is like waiting for the perfect wave. When it comes, ride it with confidence.

10.15 AM : Banknifty Option analysis

In morning session call writers are aggressive at 45000-45200 level whereas put writers creating support near 44800-44700 level.

“In the stock market, patience is not just a virtue; it’s a superpower. The ability to wait for the right opportunity and resist impulsive decisions is what sets successful traders apart.”

Banknifty Option 12 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.

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