Banknifty Price Action Analysis for coming week - 9 Aug - 13 Aug
Banknifty Price Action Analysis for coming week - 9 Aug - 13 Aug 2021 | Imp levels - Support and Resistance
The weekly chart was moving sideways for the past many weeks, this week's candle was a gap-up decisive bullish candle, suggesting that the sideways move is mostly over and banknifty could see a good up moving in this coming week as well.
CP: 36000
Multiple Supports:
Bull candle midpoint would act as support,
Rising Gap Support,
Previous resistance turned as support now: 35782- 35780
Major Banknifty Support zone: 35100-35200
Immediate Resistance: 36257 - 36330
Next Resistance: 37285
The weekly chart was moving sideways for the past many weeks, this week's candle was a gap-up decisive bullish candle, suggesting that the sideways move is mostly over and banknifty could see a good up moving in this coming week as well.
CP: 36000
Multiple Supports:
Bull candle midpoint would act as support,
Rising Gap Support,
Previous resistance turned as support now: 35782- 35780
Major Banknifty Support zone: 35100-35200
Immediate Resistance: 36257 - 36330
Next Resistance: 37285