Nifty Bank IndexUpdated BANKNIFTY -- Strong Resistance @42700 becomes Support??
Previous strong resistance @42700 broken and showing bullish pressure towards 43000.
Due to monthly expiry price may limit the upwards momentum and resist the price at 43000,43150 levels.
Strong fall may happens @43100 level also be careful at this level before long.
Try to be on the long side from 42700-42620 levels to reach 43400-43600 levels.
Short:
price breaks 42620and gives retest go short for 42400 levels.
Due to monthly expiry price may limit the upwards momentum and resist the price at 43000,43150 levels.
Strong fall may happens @43100 level also be careful at this level before long.
Try to be on the long side from 42700-42620 levels to reach 43400-43600 levels.
Short:
price breaks 42620and gives retest go short for 42400 levels.
Note
the zone 42850-42700 failed to act as support then will go selling as follows.
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**If these ideas are Helpful !
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.