BANKNIFTY Daily Analysis - 23rd June 2022NSE:BANKNIFTY seems to be in a range and there is lot of resistance on the UPSIDE from Sell Zone b/w 33450 - 33600 levels. If BNF manages to cross this with good volumes on BNF Futures contract then, next resistance can be seen at 33800 levels.
On Downside, Upward trendline would act as good Support, if it breaks with volumes then next Downside target would be todays low around 32650 levels followed by 32400 which is a Big Buy zone.
Bnffuture
BANKNIFTY Daily Analysis - June 21st - Daily Candle looks weakNSE:BANKNIFTY has given a good bounce this morning but in second half the selling pulled the BANKNIFTY down n it lost almost half of the Upside.
Fresh buying in BNF can come only after 33800 resistance is broken with good volumes in Futures. Watch out for it.
Any fall below 32800 level can bring further downfall in BNF and it can retest 32400 levels again which is a BUYZone.
BANKNIFTY Daily analysis June 20th 2022 - More UPSIDE expectedNSE:BANKNIFTY Is taking Support from a Trendline as well as Buy Zone.
Until this BUY Zone is not broken on higher volumes on downside in BNF Futures, Its a Buy on dips kind of period.
NSE:HDFCBANK has given a good support to NSE:BANKNIFTY and looks really strong on charts.
If HDFC BANK continues to support BNF, then we might see levels of 33800 in quick time.
BANKNIFTY Weekly Analysis - Looks weak, but chances of BounceNSE:BANKNIFTY BANKNIFTY is looking weak like all the indices across the board.
But there is a good Buyzone which can act as support between 32420 - 31870 levels.
On Upside 33800 is a strong resistance, which seems tough to be broken for now.
BANKNIFTY EOD daily analysis June 9h 2022NSE:BANKNIFTY BANKNIFTY gave a strong move today on UPSIDE was unable to break the parallel downward channel its being trading from start of this month.
Initiating Fresh LONGs on BNF soon as we see BANKNIFTY breaking this Downward channel with good volume on Upside, until it breaks it I predict that it would go down n retest 34800 on Downside once again.
BANKNIFTY EOD analysis June 8th 2022NSE:BANKNIFTY had a huge movement today on both sides, but managed to stay within a close range which we discussed in my last post.
Now, NSE:BANKNIFTY - needs to give a decisive move either below 34650 for BIG BEARS to come in action.
Chances of UPSIDE are less, as it seems like Sell at every Upmove, if it comes then BNF has to break 35450 levels with good volumes to see some SHORT covering.
I'm mostly in wait n watch mode currently, but I'm more biased on Down move to come in BNF.