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Bankniftylevels

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