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Bankniftylevels

BANKNIFTY--42700-42650 acts as Support??Observations: After A strong fall price mostly enters into consolidation stage. Previous strong resistance @42700 broken and showing bullish pressure towards 43000,43600 levels. (Price broken the 42700-42650 zone to downside and closes inside this zone.) If the same level acts as support price will again rise from this level, Strong fall happens from @43200-43100 level also be careful at this level before long will again see some bearishness in this zone. Try to be on the long side from 42700-42620 levels to reach 43000-43200 levels. Go long: Above 42850 to reach 43000,43100 levels. Short: Don't think of Short now. be on short side from 43200 levels up to 42850,42700 only. price breaks 42620 and gives retest go short for 42400 levels.
NSE:BANKNIFTYLong
by IIT-Trader
1
BANKNIFTY--Bullish again from 43500??Observations: ------->> We have a Untested Supply zone @43800-43900 level , price have to give respect to this level. Keep long until this level only. --------->>BANKNIFTY again showing bullish pressure at the end of the session, and broken the previous resistance @43500-43600 level , if this level which is previous Resistance if acts as support price is bullish up to 43800-43900 level only. --------->>Go Long : If price comes back to 43500, go long for targets of 43800-43900 level. Price reversal from this zone(43800-43900) but overall momentum is still positive only, wait until further price action to be noticed. Gap downs may also occur at this level be careful here. Short : Don't think of short now, look for buy @43500-43600 level. Until price breaks 43500-43460 level, and the same level acts as resistance then only we have a sell possibility. Keep on long from 43500 to 43900 level.
NSE:BANKNIFTYLong
by IIT-Trader
BANKNIFTY-Trendline Holds or Buyers Exhausted?? BANKNIFTY has been on an upward trend for quite some time now, but it seems like it may be time for a correction at the strong resistance level of 43600. Observations: ----->>However, the trendline is currently acting as a support and the price is still moving up. ------>>Just yesterday, the strong resistance at 43000 was broken, so it's possible that it may now act as a support level. ----->>If the price falls below 43000 again, it's uncertain which level will hold. Which Level Holds: In the past, the price faced difficulties going up at 42700 and failed. But now, that same level may act as support to go higher. It's recommended to stay on the long side until the price breaks below 42700. -------->> If price breaks 42700 and facing resistance @43000 or 42850 level and again breaks 42700 , go for short 42500,42300,42000.
NSE:BANKNIFTY
by IIT-Trader
1
BANKNIFTY-Look for sell at 43100-43250 Note : fake breakouts may happens at this level, be careful at this level. Buy plan: if price breaks 43100 and pullback to 43000 levels then go for buying up to 43210,43300,43470. Sell Plan: Look only for sell at these levels. if 43000 breaks and observe a fake breakout and falls below to this level and again 43000 level acts as resistance go for selling targets are 42800,42700,42620. we have Strong support at 42400-42350 levels. Consolidation Levels : 43100-42800
NSE:BANKNIFTYShort
by IIT-Trader
BANKNIFTY -- Reversal @ 43000 or 43600.At 43000, we have encountered one of the most formidable resistance levels, as evidenced by a prior strong sell-off. Despite Bank Nifty's upward trend, the question remains whether the price will surpass this resistance or experience a reversal. So far, no bearish momentum has been detected in Bank Nifty, indicating that buyers are likely to propel the price to an untested supply zone at 43600. However, it is significant to note that a pullback or retracement is expected at the 43000 level, which we will monitor closely. Note : fake breakouts may happens at this level, be careful at this level. Buy plan: if price breaks 43100 and pullback to 43000 levels then go for buying up to 43210,43300,43470. Sell Plan: if 43000 breaks and observe a fake breakout and falls below to this level and again 43000 level acts as resistance go for selling targets are 42800,42700,42620. we have Strong support at 42400-42350 levels. Consolidation Levels : 43100-42800
NSE:BANKNIFTYLong
by IIT-Trader
BANKNIFTY-Is Monthly expiry Bullish ??? Observations: Today bearish pressure observed at 42850 level, means not a bearish turn in bank nifty, The BANKNIFTY INDEX has been on an upward trend, with buyers successfully breaking through resistances at 42500, 42700, and tested @42850. They are now poised to reach untested supply zones at 43000, 43100, and 43400 levels. However, buyers may lack the necessary power to push the price higher, and if any of the previous supply zones act as support, the price could move back upwards. It is recommended to remain on the buy side within the range of 41500-41400, as no significant retracement has been observed after breaking the supply zone at 42500 level. If this level acts as support, monthly expiry is expected to be bullish.
NSE:BANKNIFTY
by IIT-Trader