Banknifty future Live market Update

15.15PM: Banknifty Future Weekly Performance

Banknifty Future

Throughout the day, put writers exhibited confidence in the market, maintaining their positions between the 45000 and 45200 levels. We carefully observed the 1-minute chart with an Elliott Wave count, patiently waiting for the opportunity to enter. Market is range bound and hence one has to play support and resistance in narrow range. This strategy proved successful  to give LRHR trades (Low Risk high Reward) in intraday. Today gain of over 100 points. The combined analysis of Elliott Wave theory and options trading has consistently provided high-quality trades, making it a winning strategy for the week.

Banknifty

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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14.25PM: Banknifty Future 1 min chart

  • Banknifty Future met first target at 45460  there by captured 100+ points
  • Internal Wave count with volume profile give in below image.
    Banknifty Future

14.05 PM: Banknifty Put writers moving higher

  • Put writers are confident between at 45000  to 45200 level
  • Call writers created a hurdle at the 45,500 level.
  • Max Pain level observed at 45200 level now.
  • PCR at 1.14
  • Range bound market 45000-45500

Banknifty

12.10 PM: Banknifty Put writers are confident

  • As analysed and expected put writers moving ahead confidently
  • Put writers from morning created rock support at 45000 level
  • Put Writers moving confidently higher now captured 45200 level too
  • Call writers created a hurdle at the 45,500 level.
  • Max Pain level observed at 45200 level now.
  • PCR at 1.28
  • Range bound market 45000-45500

Banknifty

11.35 AM:Banknifty Future 1 min chart 

  • Gaining positive momentum after making low of 45130 near 30min 50ema
  • expected to move towards 45500 level
    Banknifty Future

11.00 AM:Banknifty Option strong support 45000

  • Put writers established strong support at 45,000.
  • Call writers created a hurdle at the 45,500 level.
  • Max Pain level observed at 45100 level
  • Put Writer looks confident and Captured 45100 level
  • PCR at 1.05
  • Range bound market 45000-45500
  • banknifty option

11.00 AM:Banknifty breath is minorly positive

  • Private banks like ICICIBANK , AXISBANK , KOTAKBANK are performing well and playing a significant role in supporting the sustainability of the banknifty
  • HDFCBANK is currently under performing, exerting a downward pressure on the index

Banknifty

10.00 AM:Banknifty Option Data Analysis

  • Put writers established strong support at 45,000.
  • Call writers created a hurdle at the 45,500 level.
  • Max Pain level observed at 45100 level
  • PCR at 1.10
  • Put Writer looks confident and Captured 45100 level
  • Banknifty Options

9.30 AM :Banknifty Future 30 min chart

  • 4th corrective sub wave is on progress.
  • 50ema at 45138 and 38.2% fibonacci retracement at 44922may act as support.
  • POC at 45275

 

 

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