Banknifty has given a nice marubozu candle on the daily charts and there is a bullish mat hold pattern.
It broke the resistance zone of 44650 levels and has travelled to touch the resistance of 44900. Banknifty has given a nice up ward move from the first hour after retesting 44350 levels.
On the hourly charts, there is a bullish moving averages cross over and market held onto take support from the moving averages.
A nice 1% move is there in banknifty and it was stronger than nifty.
Now the major resistance area is around 45000-45100 levels and if it is cleared than the bullish trend will be confirmed.
Support :- 44650, 44500
Resistance :- 44910, 45080, 45350
Watch banknifty moving above 45000 levels, once the levels are cleared and market sustain above it, there are chance of a nice upside targets.
Wait for the price action near the levels before entering the market.
It broke the resistance zone of 44650 levels and has travelled to touch the resistance of 44900. Banknifty has given a nice up ward move from the first hour after retesting 44350 levels.
On the hourly charts, there is a bullish moving averages cross over and market held onto take support from the moving averages.
A nice 1% move is there in banknifty and it was stronger than nifty.
Now the major resistance area is around 45000-45100 levels and if it is cleared than the bullish trend will be confirmed.
Support :- 44650, 44500
Resistance :- 44910, 45080, 45350
Watch banknifty moving above 45000 levels, once the levels are cleared and market sustain above it, there are chance of a nice upside targets.
Wait for the price action near the levels before entering the market.
Trade closed: target reached:
Banknifty has acheived all the targets and reversed immediately after hitting 45350, our ultimate target.
This week banknifty has given a trending move and has closed above 45k level.
Banknifty has acheived all the targets and reversed immediately after hitting 45350, our ultimate target.
This week banknifty has given a trending move and has closed above 45k level.
