BankNifty: Individual Constitutent Price-Action Analysis

5 Feb 2023

BANKNIFTY Individual Constitutent Price-Action Analysis


Methodology: Ichimoku trading systems, TF: Daily

• #AUBANK: Downtrend, 635 is immediate resistance
  
• #AXISBANK: Downtrend, 901 is immediate resistance
  
• #BANDHANBNK: Downtrend, 243 is immediate resistance
  
• #BANKBARODA: Downtrend, 168 is immediate resistance
  
• #FEDERALBNK: Price just crossed the cloud, about to turn upswing. Still other confirmation needed (TK cross over needed). Rigtht now resistance: 136
  
• #HDFCBANK: Uptrend. All indications are bullish, support at 1630.
  
• #ICICIBANK: Downtrend. 880 is immediate resistance
  
• #IDFCFIRSTB: Interesting, a T-K crossover is forming, price above cloud. Other confirmations are awaiting (leading and lagging spans).
  
• #INDISINDBK: Downtrend. 1133 is immediate resistance.
  
• #KOTAKBANK: Downtrend. 1805 is immediate resistance.
  
• #PBN: Sideways. Price is inside the cloud - no trading zone.
  
• #SBIN: Downtrend. Immediate resistance at 560.
  

In a nutshell: Other than #HDFCBANK all are, technically, in downswing. #IDFCFIRSTB is the most interesting to watch for a breakout.