Bank Nifty is currently stuck in no trading zone (NTZ). These areas are usually distribution or accumulation zones. whenever, it is trying to touch the upper part of NTZ then upside is expected. But, since yesterday, it is moving downside and touching lower band of the NTZ. Usually, these move means we can expect a small correction in the market. Levels for the downside are marked below in Red. Where ultimate downside is marked in Blue.
This is completely for educational purposes and should not be used for trading.
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1st Target reached. 250pts done Next Target 37600
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2nd Target done
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Target 3rd Done and just like what we saw after target 2. It went up and then came down to target 3. Now facing resistance at target 2. Now important thing to watch is the gap created in the last 3 trading sessions due to gap-up and gap-down.
3rd Target Reached today. Now it has taken support at 37050. Next major resistance at 37550. If Breakout from that level then we can see bull run or reversal from that level then target 4 to end blue.