BANKNIFTY Set up & Trade Plan for Week Starting 25jun

BNF: Last week ,  Played out all 3 scenarios that we laid out, a test near 26150, consolidation and 26300 levels and a upward test for 26800 levels.

BNF continues to trade within the trading range formed on the 1st week of June. Testing the 78.2 % retracement, from there an upward push up to 27000, 27350 zones is a possibility. On the downside 26480-580 will support immediate support and a move below will be a good zone to test for a downward push

Now we could play out the below  scenarios  for next week

I.Continue upwards to test 27000, 27350 zones or higher, but given OI accumulation at 27000 I will be cautious for this scenario.

II.Move below 26750 and test the zones of 26580-480.

III.A break below 26350 to try and test 26150 and lower levels. Again at this point a break of 26100 looks difficult this week based on month end OI

Banknifty Set up Profile and Trade Plan Week 16Apr -2018

Banknifty marked a major consolidation in terms of the smallest weekly range on the weekly charts.

A quick recap of the previous week shows that the low marked couldn’t even get into the previous week’s value area, indicating that buyers emerged aggressively in dips. This resulted in the value area shifting higher as well significantly.

This indicates that the coming week will continue to be a consolidation zone with an upward bias for the traders.  The Banknifty PCR remains at 1.45 and the max pain at 25100. Support is likely to emerge in any dips to 25000-24940 zones and should see buyers emerging until markets cracks below that levels or breaks 24850.

On the upside resistance will be seen @ 25540-25600 zones and should see pull backs from there. Until the marked range in green and red doesn’t break in the below volume profiles charts we should see markets consolidate and set up base for the next direction.

BANKNIFTY FUTURES WEEKLY RECAP- 16 MAR & PLAN AHEAR

Banknifty had a very interesting last week, it started with the buyers pulling it back and ended up towards friday with sellers exerting a downward thrust.
at the end we closed with in a fairly balanced situation from the week perspective. Now until the lows near 24100 are broken we are still with an open chance to extend a pullback on the upside before the downard shift begins.

There are 3 possibilities that emerge for the current week 1. we continue to trade between 25000 and 24300 zones and consolidate further 2. we see a downward shift and 
break below 24100 and 3. we manage to respect the lows and consider it as an intermediate bottom to break on the upside past 25150 to test 25500 levels.