With banknifty making all type of bullish pattern in an hour charts itg is eminent to reach 40500 soon, but on what basis is it driving this market crazy? you would see it soon
Hi Traders,
BNF is in Bullish momentum from last couple of days 3-4 trading sessions and It might continue.
On UPSIDE it might face resistance at 34150 followed by 34350 levels. Wait for each of these resistances to be broken on good volumes in BNF Futures.
On DOWNSIDE 33500 is a strong Support in BNF which doesn't seem to get broken anytime soon.
NSE:BANKNIFTY Is taking Support from a Trendline as well as Buy Zone.
Until this BUY Zone is not broken on higher volumes on downside in BNF Futures, Its a Buy on dips kind of period.
NSE:HDFCBANK has given a good support to NSE:BANKNIFTY and looks really strong on charts.
If HDFC BANK continues to support BNF, then we might see levels of 33800 in quick time.
BNF can bounce back intraday from 34450 if not broken decisively with good volumes on downside.
BNF can easily take support from 34450 to move upwards towards 34650 for retest.
Bullish on Bnf as long as daily low at 29700 holds.
Bnf at a demand zone seen on the daily chart.
waiting for price to accumulate before breaking previous swing highs .
If 32000 breaks, can look to long at a demand zone formed on the move that broke structure to the upside.
