BankNifty Index is calculated based on the movements of its participants. Every time you think of why is Index going up/down, who is actively dragging the index either ways, this Indicator gives you the answer for the same in realtime!
For example: You see HDFCBank and Kotak Bank significantly up while all other banks going down but index reacting in a bullish mode, the answer lies in which Bank is contributing how much to the index! This will help you in pre-planning your trades based on the movements shown by different banks in Index calculation. Or on the other hand, you see HDFCBank on verge of breakout and you have target of 10 points, this indicator will help you in identifying how much the index will react to the 10 points movement shown by HDFC Bank which is the leading participant in Bank Nifty.
RSI column is an add-on to the participation table which will help you in getting RSI values of different banks at a glance. You will see values getting updated in realtime in live market. Checkout for customisations in indicator settings.
Note: Participants present in this indicator and their participation percentage is taken from the official NSE website.
Feel free to contribute/comment changes if any!
- Published by Soham Dixit
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- Added option to input no. of rows to be shown in the table
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- Updated Bank Nifty Constituent Weightages as per the latest data
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- Fixed issue of variable table length on value change
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Updated Bank Nifty Constituent Weightages as per the latest data
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Updated Bank Nifty Constituent Weightages as per the latest data - You can select no.of rows to show from settings.
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Change Column Name to accomodate mobile view
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Major Update
- Dynamic Weightages (Now you can edit/update weightages) from Script settings - More columns ? Difficulty in visibility ! Now you have an option to hide/unhide column from settings - Table Text Color can be changed from settings
Happy Trading :)
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Default Colors changed
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- More Customisations added in Script settings
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- Added RSI Min Value. If RSI is between Min and Max Value, RSI column will have neutral colour else bull or bear colour accordingly - Added optional Previous Day High & Previous Day Low columns. You can switch them on from script settings. Default they are not visible. - LTP Column will now hold bull, bear or neutral colour basis current price
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- Minor modifications
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- Updated Weightage for Bank Nifty Constituents
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- Added movement column, indicating movement in index by if constituent moves by 1 point - Hover over the column to view over details of impact constituent has on it's base index. e.g. if ICICIBANK moves by 1 point, it will move bank nifty by 11.47 points - Updated weightage constituents - Converted to v5