"BankNifty: 25651 Above 25759 Resist: 25826_25934_26042 & 26109" by trader padiyaraa — published 2017-11-05

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NIFTY BANK (NSE:BANKNIFTY)

NSE:BANKNIFTY NIFTY BANK

Trend Analysis

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trendanalysis

BankNifty' is trading at a channel resistance with indicators over bought, doesn’t show any weakness, same way MACD also looks very bullish , expecting a target 26366 this week, where as, if the boarder market is bearish due to external reasons BN will have support at 25395.
BankNifty': 25651 Day Pivot: 25580
Above 25759 today’s Resistances are 25826 25934 26042 26109
Below 25543 today’s Supports are 25476 25368 25259 25193

Weekly Pivot: 25385
Weekly above 25848 BankNifty’ Resist: will be 25971 26168 26366 26488
Weekly below 25453 BankNifty’ Supports will be 25331 25133 24935 24813

Monthly Pivot: 24706
Monthly above 25353 BankNifty’ Resist: will be 25560 25894 26228 26434
Monthly below 24685 BankNifty’ Supports will be 24479 24145 23811 23605

Thanks for your reply. Now the GST and SBI results will help to reach 26000 this week easily? What is the FII status for this week.

Now the next support will be 25171 for this week? Or will it bounce back to 26000+

venkaticr

@venkaticr, oh, it an artful question, 25171 is definitely a strong support
not only for the week but for short term period I hope it will support BN,
and I strongly believe that we are heading towards 26000 sure.

Just don't believe me,my reasoning is in the chart. please watch the Blue arrows
showing an RSI support in hourly chart.