BankNifty Support&Resistance levels for Monday Aug 19th
Updated
Banknifty Nifty support and resistance levels for monday to trade with.
Immeadiate resistance is 50780-50800 area and immeadiate support is 50300 area.
Either one can wait for the price to test suppport area look for rejection to go long else short.Same for long on if resistance breaks out and sustains long , upon rejection at resistance 50800 area short to support area 50500 to 50300.
Upside targets from current level 50800,51000,51200,51300.
Downside targets from current level
50300,50075,49800,49650.
Immeadiate resistance is 50780-50800 area and immeadiate support is 50300 area.
Either one can wait for the price to test suppport area look for rejection to go long else short.Same for long on if resistance breaks out and sustains long , upon rejection at resistance 50800 area short to support area 50500 to 50300.
Upside targets from current level 50800,51000,51200,51300.
Downside targets from current level
50300,50075,49800,49650.
Note
Resistance area rejectend on open going for 50300 below as mentioned above in my idea.
Note
Short entry
Trade closed: target reached
Target acheived
Note
50300 acheived from resistance
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