Resistance Area: 44,800 to 45,000
Scenario: Bank Nifty is currently facing strong resistance in the range of 44,800 to 45,000. Traders should closely monitor this zone as it will play a crucial role in determining the short-term trend.
Breakout Potential: If Bank Nifty successfully breaks above the 45,000 level, it could indicate a bullish momentum, and the next target might be around 46,500.
Support: On the downside, if Bank Nifty fails to break above the resistance and starts to drop, the key support area to watch is 43,500.
Trading Strategy: Consider long positions if there's a clear breakout above 45,000 with a target of 46,500. Conversely, be cautious and consider short positions if Bank Nifty falls below 43,500. Always remember to apply proper risk management techniques and stop-loss orders when trading
Scenario: Bank Nifty is currently facing strong resistance in the range of 44,800 to 45,000. Traders should closely monitor this zone as it will play a crucial role in determining the short-term trend.
Breakout Potential: If Bank Nifty successfully breaks above the 45,000 level, it could indicate a bullish momentum, and the next target might be around 46,500.
Support: On the downside, if Bank Nifty fails to break above the resistance and starts to drop, the key support area to watch is 43,500.
Trading Strategy: Consider long positions if there's a clear breakout above 45,000 with a target of 46,500. Conversely, be cautious and consider short positions if Bank Nifty falls below 43,500. Always remember to apply proper risk management techniques and stop-loss orders when trading