BankNifty Analysis 31/5/2021

Hello Everyone,
Hope you all are fit and fine ... Stay Safe and Trade safe...!

As predicted in my previous analysis about the Possible No Trade Zone ... between 35100 to 35300, most time of the day BnkNifty continued to trade in those levels.

BankNifty can Open Flat/Neutral .... Tomorrow ...!

Resistance Level :
1. Good resistance exists between 35100 to 35250.
2. Strong Resistance at 35500.

Support Level :
1. 35000 is Good Support level
2. 34400 is next Support Level .

Important Note :
Take a look at Red Circle Highlighted ... what it point outs?
What happens when a major Resistance is broken ...? Next it act as a Support ...! ...e.g 35000
Keep in mind we still have a Small Resistance Zone between 35100 to 35250 .. So don't jump into the trade as market opens ...

This is not Buy and Sell recommendation to any one.
This is for education purpose and a helping hand for Retail Trader who are new to Market.

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