The BANK NIFTY futures chart is signalling critical levels
🚀 Attention NSE and StockMarketIndia traders!
The BANK NIFTY futures chart is signalling critical levels you don't want to miss. We've got a strong resistance around 53,160, marked by a Fibonacci retracement level at 0.618 level.
This level has been tested multiple times, showing the market's hesitation to break through. If we see a close above this level with volume, it could indicate a bullish breakout, targeting the next Fibonacci level at 0.786. On the downside, watch the 52000 supports, which aligns with the 0.382 Fibonacci retracement level.
A break below this could lead to a deeper correction, potentially testing the psychological 50,000 mark before finding a base.
As the Fibonacci retracement shows the compelling price swings between the levels of 0.382 & 0.5 at the horizon. The Fibonacci time-based extension predict the price movement at the vertical time frame.
Volume spikes are crucial here; increased volume on upward moves could validate a bullish scenario, while high volume on declines would suggest a bearish continuation.
Stay vigilant, set your stop-losses wisely, and be ready for volatility. The market is at a pivotal point. Follow stocktechbot for continuous updates and insights.
The BANK NIFTY futures chart is signalling critical levels you don't want to miss. We've got a strong resistance around 53,160, marked by a Fibonacci retracement level at 0.618 level.
This level has been tested multiple times, showing the market's hesitation to break through. If we see a close above this level with volume, it could indicate a bullish breakout, targeting the next Fibonacci level at 0.786. On the downside, watch the 52000 supports, which aligns with the 0.382 Fibonacci retracement level.
A break below this could lead to a deeper correction, potentially testing the psychological 50,000 mark before finding a base.
As the Fibonacci retracement shows the compelling price swings between the levels of 0.382 & 0.5 at the horizon. The Fibonacci time-based extension predict the price movement at the vertical time frame.
Volume spikes are crucial here; increased volume on upward moves could validate a bullish scenario, while high volume on declines would suggest a bearish continuation.
Stay vigilant, set your stop-losses wisely, and be ready for volatility. The market is at a pivotal point. Follow stocktechbot for continuous updates and insights.
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