The image is a TradingView chart of the Bank Nifty Index (15-minute timeframe), showing price action along with potential future scenarios.
Key Observations:
Current Price: ₹49,210.55
Support & Resistance Zones:
A key resistance level near ₹49,500 - ₹49,700
Support around ₹49,000 - ₹48,800
Potential Market Scenarios:
Gap Up Scenario: If the market opens above ₹49,300 and sustains, an uptrend towards ₹49,700-₹50,000 is possible.
Flat Opening Scenario: If the price remains around ₹49,200-₹49,300, it could consolidate before breaking out.
Gap Down Scenario: If the market opens below ₹49,200 and breaks ₹49,100, a move towards ₹48,900 and below is possible.
Trading Strategy:
Bullish Bias Above ₹49,300: Look for long opportunities if price sustains above this level.
Bearish Bias Below ₹49,100: A breakdown could signal further downside.
Range-bound Possibility: Sideways movement expected if price remains in the ₹49,100 - ₹49,300 range.
Key Observations:
Current Price: ₹49,210.55
Support & Resistance Zones:
A key resistance level near ₹49,500 - ₹49,700
Support around ₹49,000 - ₹48,800
Potential Market Scenarios:
Gap Up Scenario: If the market opens above ₹49,300 and sustains, an uptrend towards ₹49,700-₹50,000 is possible.
Flat Opening Scenario: If the price remains around ₹49,200-₹49,300, it could consolidate before breaking out.
Gap Down Scenario: If the market opens below ₹49,200 and breaks ₹49,100, a move towards ₹48,900 and below is possible.
Trading Strategy:
Bullish Bias Above ₹49,300: Look for long opportunities if price sustains above this level.
Bearish Bias Below ₹49,100: A breakdown could signal further downside.
Range-bound Possibility: Sideways movement expected if price remains in the ₹49,100 - ₹49,300 range.
Note
Trade Done 9.40am |||Enjoy !!Trade closed: target reached
Trade Done 9.40am
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.
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.