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BANKNIFTY Trading Levels and Strategy for April 26, 2024:

Nifty Bank Index (NSE:BANKNIFTY)  
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NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Chart Patterns Wave Analysis
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Gap Up Opening Above 48700:

Prices might see initial drop to 48523. If supported and trades above 48625, expect sideways movement between 48697 – 48523. Breakout can lead to levels of 49100 – 49257 with possible profit booking.
Failure to sustain at 48523 may lead to a drop to 48200-48186, where initial support is expected.
Flat Opening:

If prices open flat and reject from 48523-48550, and the first-hour candle closes below 48450 without breaking 48625, expect retracement to 48200-48186. Below 48150, target 48050.
Recovery above 48550 and sustained trade can lead to levels of 48697-48700. Above 48800, expect 49100-49257.
Gap Down Opening Below 48400:

If no quick recovery after opening, wait for support at 48186-48200. First buying opportunity. If slipping below 48150, target 48050.
Quick recovery within the first hour and trade above 48523 suggests a buy trade with targets at 48700. Above 48750, expect 49000 – 49100 – 49250.
Disclaimer: The above trading strategies are for informational purposes only and do not constitute investment advice. Trading in financial markets involves risk, and traders should perform their own analysis and consider their risk tolerance before making any trading decisions.
Disclaimer

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