BankNifty Support&Resistance levels for 29th May Wednesday

Banknifty support and resistance levels to trade on wednesday, if you look at 15 chart trend is bearish only above 49350 if price sustains bullish view can be consider until then sell on rise applies .

support :- 49050
reistance:-49380

upside targets 49450,49600,49700.
downside target 48800,48600,48550.

Comment:

opened gapdown retested the support area now acts as resistance 49000 area acheived 2 targets to downside

Comment:

do not short here on day low area rather look for long PCR is very low in profit booking area may get a bounce from here in my view

Trade closed: target reached:

low did not held all targets acheived below

Comment:

support :- 48400 if sustains below short targets of 48300,48200,48000
Resistance :- 48660 if sustanins above long targets of 48800,48950,49050,49200

Comment:

above for tomorow may 30th support and resistance levels

Comment:

Comment:

48600 above 3 targets acheived break out above 48600 after morining gap down retest of 48600 held and rallied to 49 k

Comment:

Avoid trading in banknifty,nifty and sensex today live for another day

Trade active:

thought of no trading today but found a set up with my indicator

Trade closed: target reached:

Comment:

Reason for entry :-

after consolidation a breakout of it with good green candle and ema cross over happened from below more confluence to long targeting day high