BankNifty- Simple Support Area 19730-19750 Working

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BA has bounced atleast twice going into the zone 19730-19750 which has become resting zone- since when we identified that zone -it worked like a magic zone

Either that zone of 19730-19750 to be taken as good buying zone or going above 20015 -which is the rejection level for BA can be taken as another important mark -if it crosses -one can look for 20200-20250 zone but the risk -reward is not that great as stops are below 19795.

Going Below Area of 19700-19730 shall be in the grips of bear & one can look for next support zone 19500-19550 as target zone.

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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