Get started

Bankniftytrading

BANK NIFTY 07.02.2023NSE:BANKNIFTY Refer yesterday mentioned levels. Given that, from 41690 onwards could face stiff resistance and today made a high of 41725 and reversed. Also given that 41200 and blow could lend support and got support at 41260. If todays high is taken out on tomorrow, good chance to reach up to 42000 - 42300 which is also budget day high. Reason Low volume zone all the way. 41100 to 41200 area can offer some support. Refer the chart. Meanwhile at 15 minute timeframe one beautiful VCP pattern is getting printed the break out of which will push the price up to above mentioned levels. refer the chart below. Please keep in mind following charts NSE:BANKNIFTY Daily time frame. If you remove the negative noise from the market for the moment there is nothing wrong with BNF charts. Daily time frame shows a consolidation. Refer chart below. NSE:BANKNIFTY weekly time frame looks like a shakeout. Refer chart below.
NSE:BANKNIFTY
by Vasu_devan
Bank NiftyThis is just guess work. nobody can predict 100 percent.No clear trend or direction in market. observation is both bulls and bears have placed bets in the market. market trend will mostly decided by the external news and company results perhaps waiting for rbi repo news. overall market sentiment is bullish as you can see in chart to break 39000 will need high selling unless there is big negative news. possible high break up or down when there is change in trend. so for 2 or 3 days market is based upon results and news. general support at down range for today is 41300 and upper is 41550 which cans be seen in 15min chart. just keep watch if price is going above or lower. the above mentioned s&r is from chart being plotted for tomorrow because of sideway market. major s&r you can do yourself or look in others published. when i mention overall sentiment it means generally for a week not just for tomorrow market.
NSE:BANKNIFTY
by NB19