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Banknifty Analysis for 19th Mar'25

Banknifty Analysis for 19th Mar'25 1. Support & Resistance Levels Support Levels: 48,000 – Recent swing low 46,500 – Strong historical support 44,000 – Major support zone Resistance Levels: 49,500 – Current breakout level 51,000 – Next significant resistance 54,000 – Major resistance level 2. Elliott Wave Analysis Bank Nifty seems to be in a corrective wave (Wave 4) after completing an impulsive wave up. If it breaks 49,500 , it could initiate Wave 5 towards 52,000-54,000. If it fails, expect Wave C correction towards 46,500-47,000 . 3. Fibonacci Levels Retracement Levels: 50% at 48,000 (recent support) 61.8% at 46,500 (major support zone) Extensions (if upward breakout occurs): 1.618 Fib Extension at 52,500 2.0 Fib Extension at 54,000 4. Moving Averages (10 & 30 EMA) Bullish crossover likely if price closes above 49,500 . If price stays below 48,500, short-term weakness expected. 5. Indicator & Oscillator...
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Nifty - Detailed Analysis - 28th Feb'25

 Nifty 50 daily chart analysis using multiple technical methodologies, including Elliott Wave Theory, Fibonacci Ratios, Gann Angles, Pivot Points, and Trendlines. The analysis will include: Nifty 50 Daily Chart Technical Analysis 1. Elliott Wave Theory ( NIFTY 50 Elliott Wave Analysis: Trend Reversal and Forecast for 2025 - Elliott Wave Trading Education > Blogs List ) Figure: Nifty 50 daily chart with a labeled Elliott Wave count, showing a five-wave advance into late 2024 (peak near 26,300) followed by a corrective decline. The chart suggests the recent down-move is part of a Wave ((ii)) correction (grey labels), with an expected Wave ((iii)) to the downside to follow (orange projection). This aligns with the view that the prior bullish cycle (Wave (5) in orange) has completed, and the index is now in a multi-wave corrective phase. According to Elliott Wave analysis, Nifty’s uptrend peaked in late September 2024 after a five-wave impulse rally ( NIFTY 50 Elliott Wave A...
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Banknifty Detailed Analysis - 28th Feb'25

 Nifty Bank daily chart analysed using multiple technical methodologies, including Elliott Wave Theory, Fibonacci Ratios, Gann Angles, Pivot Points, and Trendlines. The analysis will include: Support & Resistance Levels : Identifying key price zones based on historical price action and technical indicators. Entry, Target & Stop-Loss Recommendations : Derived from Elliott Wave structures, Fibonacci retracements/extensions, and price confluence areas. Gann Angle Analysis : Evaluating potential price movements based on Gann theory. Pivot Points : Using standard pivot points to highlight probable market turning points. Trendline Analysis : Determining trend direction and breakout/breakdown levels. Trading Strategy Suggestion : Providing a strategy based on market conditions, risk management, and technical confirmation. Introduction The Nifty Bank index (Bank Nifty) has recently shown significant volatility on its daily chart, marked by a sharp downtrend after reaching...
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Banknifty - Daily Analysis - 29th Jan'25

 I've displayed the chart you uploaded, but analyzing it using technical analysis tools like Elliott Wave Theory, Fibonacci retracements, Gann Angles, and others requires a bit of detail. Based on the chart alone, here’s a general approach you can take for analysis: 1. Support and Resistance Levels Support Level : This is typically the lowest point that the asset has consistently bounced off in the recent past. From the chart, it seems that the price level around 48,850 may serve as a support zone, given that it has reversed multiple times in recent data. Resistance Level : The resistance is generally the highest point, where prices have struggled to break above. The price seems to face resistance at 49,900 and 50,000, considering the recent attempts at a breakout that failed. 2. Elliott Wave Theory Based on the current chart structure, you’d need to identify possible impulse waves and corrective waves. Wave 1 (Impulse) : If the market made a strong upward move (especially...
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