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...
Description: The price of gold has been consolidating within a range in recent weeks, but a breakout could be imminent. Based on technical analysis, it's possible that XAU/USD could test the $1825 support level before moving higher to target $1865.
The $1825 level has been a key area of support in the past, and a break below this level could trigger further...
Key Points:
Key Price Levels: The Bank Nifty index is currently trading in a range between 41800 and 41200. These are important levels to monitor as they can signal potential breakouts or reversals.
Breakout Targets: If the Bank Nifty index breaks above 41800, it could indicate a bullish breakout, with a potential target of 42700. Conversely, if the index breaks...
I recommend considering a potential long position on gold if the price breaks above the 1865 level on a 4-hour chart, with a target price of 1890. Alternatively, a potential short position on gold could be considered if the price breaks below the 1850 level on a 4-hour chart, with a target price of 1825. My reasoning for this trade is based on the following...
