Support and Resistance Levels: In technical analysis, support and resistance levels are significant price levels where buying or selling interest tends to be strong. They are identified based on previous price levels where the price has shown a tendency to reverse or find support.
BANKNIFTY closed below va 1. gapup 49300 long till 49600 2. 49300-48900 trade reversal 3. gapdown 48900 short till 48700
BANKNIFTY closed below va 1. gapup 48100 long 2. 47700-47500 trade reversal 3. gapdown 47500 short
BANKNIFTY closed below va 1. gapup 48550 long till 48900 2. 48550-48250 trade breakout 3. gapdown 48250 short
This is the support we have been waiting for since 2nd of May. Now that we have made daily candles that look a lot like reversal candles to me, I am absolutely sure about being unsure on what to to. Will perhaps let Bank Nifty decide for herself on a moon first. Till then, I have a seat with the audience.
A very clear and consistent HH-HL price action and measured moves down ! I believe we will see a retrace back to the TrapZone. what do you think ?
BANKNIFTY closed above va 1. gapup 49600 wait for retracement for fresh longs 2. gapdown 49100 look for longs
BANKNIFTY closed below va 1. gapup 49600 long till 49900 2.49600-49350 trade breakout 3. gapdown 49350 short
Bank nifty in in no man's land. The close of tomorrow's candle will give us some level to mark. There seems to be decent absorption at 49580. But how strong these shorters are will be have to be seen tomorrow. Ideally a HANDLE will have to be formed for a healthy up move. Now, how big a handle?
Will the banks be able to close this week above these crucial levels is the big question. Them Bank Nifty remains the lone crusader who never gave into this bloodbath.
BANKNIFTY closed below va 1. gapup 48050 long till 48150 2.48050-47700 trade reversal 3. gapdown 47500 short
The downside is now completed. banknifty is now ready to reverse as it has taken a clear support at pitchfork line. Our first tgt is 49094 and final tgt for this reversal is 49500
BANKNIFTY closed inside va 1. gapup 48350 long till 48550 2. 48350-48000 trade reversal 3. gapdown below 48000 short
bank nifty vwap with 9.40AM to 9.50 AM order block open and hidden stg.
BANKNIFTY closed below va 1. gapup 49150 long till 49300 2. 49150-48900 trade breakout 3. gapdown 48900 short
Bank Nifty again is more resilient than NIFTY. It is seen respecting the Daily FVG and looks ready consolidate with a positive bias. Just the hammer created on the top of a rally caps the up side. Hope sellers take a breather before they swing back into action.
If creates low first and then give breakout @49744 level with good bullish candle there will be high chances market will create new ath.
BANKNIFTY closed inside va 1.gapup 49450 long till 49600 2. 49450-49200 trade reversal 3. gapdown 49200 short till 49000