BANKNIFTY Intraday 05 JUN | Breakout or Breakdown Scenario

Jun 5

BANKNIFTY – Key Levels Setup | Breakout or Breakdown Scenario

According to the price action observed at session start , BANKNIFTY is currently consolidating between the resistance at 55,786 and the support at 55,673 . The structure suggests price is coiling, and a decisive move beyond either level could trigger a directional breakout.

• Key Levels:
Resistance: 55,786
Support: 55,673


• Breakout Scenario:
If price breaks and sustains above 55,786 :
TP1 (1:1): 55,899
TP2 (1:2): 56,012
TP3 (1:3): 56,125

• Breakdown Scenario:
If price breaks and sustains below 55,673 :
TP1 (1:1): 55,560
TP2 (1:2): 55,447
TP3 (1:3): 54,334

"Stay neutral, stay ready. Let the chart pick the direction."

Information and analysis provided is for educational purposes only.

Jun 5

Trade active

🏦 BANKNIFTY Intraday Summary – 05 JUNE
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Choppy Within Range – NIFTY Expiry Spills Over

BANKNIFTY traded within a tight consolidation band between 55,786 (resistance) and 55,673 (support) for most of the session.
Despite not being expiry day for BANKNIFTY, the index seemed to reflect the spillover impact of NIFTY’s expiry volatility.

The day was marked by:
• Early breakout attempts that lacked strength to sustain toward targets
• Followed by a breakdown that also failed to follow through
• Later in the session, a mild breakout did achieve TP1 (55,899) and came close to TP2
• But once again, the move lost momentum and price fell back into the range

Multiple failed directional moves resulted in a choppy, range-bound session with no clear trend, reflecting low conviction and a possible wait-and-watch mode among traders.


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📌 Key Takeaway:
This was a day where even non-expiry indices like BANKNIFTY struggled to commit. The chart was dominated by fakeouts, which tested both trend-followers and breakout traders. Patience was key.

“Choppy setups demand clarity of thought more than speed of execution.”