BANKNIFTY INTRADAY SUPPORT & RESISTANCE LEVELS FOR [01-06-2022]

NIFTY
BANKNIFTY1!

BANKNIFTY we captured 300+ points in it & it has broken its support trendline and closed today it is signalling a flat start

NIFTY - moved all day in a range didn't able to cross any support or resistance so the chart is the same as on - 31-05-22 for today

Bank nifty and nifty analysis important levels are marked on the chart.
please always trade with stop loss to avoid big drawdown.

Happy trading & keep learning

Comment:

NIFTY ANALYSIS FOR 03-06-22.
Chart is same as 01 june for today also.
Nifty expected to open positive by 140 points and nifty has formed a tight range.

Any new long in nifty should be only above 16700.

New shorts in nifty can be a reversal at 16700 zone or on breakdown of 16500.

Comment:

BANKNIFTY ANALYSIS FOR 03-06-22

Banknifty has formed a double bottom on 1st June after then it has been forming inside candle for 2 days now.

The range in banknifty is very narrow and non trade able for 2 days.

If it manages to cross and close the candle above 35800 then we can see some bullish momentum and market will be out of range.

Any short in Banknifty should be initiated only below the low of double bottom low , around 35300-35250.