Bank Nifty Analysis for 12th July 2023
Updated
Bank Nifty Current Level - 44745.05
Upside Resistance - 44800
Downside Crucial Support - 44680
In Bank Nifty, wait for market to sustain above 44800, if market breaks above this keep trailing stoploss till 44930, 45000 and 45150
On downside, wait for market to sustain below 44680 which is a crucial support, if market breaks below it keep trailing stoploss till 44400
Execute only after break and close above or below from resistance level or support level at 5-minute candle.
Upside Resistance - 44800
Downside Crucial Support - 44680
In Bank Nifty, wait for market to sustain above 44800, if market breaks above this keep trailing stoploss till 44930, 45000 and 45150
On downside, wait for market to sustain below 44680 which is a crucial support, if market breaks below it keep trailing stoploss till 44400
Execute only after break and close above or below from resistance level or support level at 5-minute candle.
Trade closed: target reached
Bank Nifty reached exactly at 44930 ( Target 1 ) and reversed from there. It became totally bearish after resistance break then it broke support also.
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