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Nifty Bank Index

Banknifty Analysis Fib Retracement

By karan_bagri
Updated
As per price action Banknifty can now go in retracement period according to Fib Retracement. However the pullback won't be long enough as we can see that 37100 is a crucial support level for the index. Speaking on the retracment levels of Fib we can expect price to take support anywhere between 37900 - 37300. While on the upside recent swing high can be a resistance level.
Note
Banknifty dipped below Fib level 0.236 and bounced back to close above the level for the day
Note
Banknifty at Fib level 0.382
BANKNIFTYbankniftyanalysisbankniftytradesetupbankniftytradingbankniftytrendbankniftyviewChart PatternsFibonacci RetracementpullbackTrend Analysis
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