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Bankniftyprediction

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
Bank Nifty Prediction for Tomorrow - 27 Aprilon 26th April 2023 Spot Nifty Bank Closed at 42829.90 (+ 0.35%) Pivot Level : 42712.61 Support Level : 42549.54 / 42269.17 Resistance Level : 42992.98 / 43156.05 Scenario 1 :- If Bank Nifty opens flat and trade flattish at the level 42870, go for put Option or Future selling with Strict Stop Loss of 42885 for target of 42350. Scenario 2 :- If Bank Nifty breaks high of today's level than, go for call Option Buying or Future buying with Strict Stop Loss of 42855 for target of 43300. But it can be very risky trade, so take minimum positions. for more visit - investordost dot in
NSE:BANKNIFTYShort
by InvestorDost
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
BANKNIFTY- 42700 is an obstacle ???The 42500 level previously acted as a strong resistance, but the price has now broken through it without a retest. However, the 42360-42400 level has emerged as a new support level, preventing further downward movement. Tomorrow, we can expect a retracement to occur from the strong resistance at 42760-42720 level, and if there is bearish pressure, we could see the price return to the 42500 and 42400 levels. Observations: If the retracement occurs at a slower pace, we can anticipate further upward movement towards the 42700 and 42850 levels. However, if the price finds support at the 42500 and 42380 levels, but is unable to move higher, we may observe a bearish trend in the BANKNIFTY.
NSE:BANKNIFTY
by IIT-Trader
BANKNIFTY-Will Rise or Fall back Key Resistance level is observed at 42500. Price is still in this range. Note: we have a previous Resistance 42350-42400 may act as support, if this level breaks then only the price reach to the next supports at 42000,41700-41600 levels. Today Observations: After a Strong selloff is observed, price again wants to test supply zone 42500 for fall again. Intraday Sell plan. Sell Plan: 42350-42400 is a level strong sell off happens ,if again this level breaks and retest will go selling,(now at least will get a pullback) and showing down pressure go short for downside targets are 42000,41700.
NSE:BANKNIFTY
by IIT-Trader