Overview: Banknifty gapped down today and we saw a cracking fall below the support levels of 35575 and tested below 35240 levels.
Either it's a correction or a trend reversal. It's yet to be seen so we can have a view of shorting in the market as long as we are below 35240 levels.
Banknifty resistance level: 35405/35575
If we open flat, we can see the selloff continue if we fall below 35240 and resistance can be found at 35405.
Banknifty Support level: 35076/34893/34629
Only if we form a price action below the support levels of 35240 we go short for the next levels of support.
Either it's a correction or a trend reversal. It's yet to be seen so we can have a view of shorting in the market as long as we are below 35240 levels.
Banknifty resistance level: 35405/35575
If we open flat, we can see the selloff continue if we fall below 35240 and resistance can be found at 35405.
Banknifty Support level: 35076/34893/34629
Only if we form a price action below the support levels of 35240 we go short for the next levels of support.