📈 Bank Nifty Analysis: Consolidation and Potential Breakout
Since June 19th, Bank Nifty has been trading within a range of 51,136 to 51,944 after the Election Result Rally. Zooming out to a broader time frame, we observe price consolidation within this range, hinting at an imminent breakout to new highs.
Scenarios:
Scenario 1 (Gap Up):
Scenario 2 (Flat Opening):
Scenario 3 (Gap Down):
✅ Bank Nifty Support and Resistance Levels:
Intraday Resistance Zone: 51,700 - 51,800
Intraday Resistance 1: 51,800
Intraday Resistance 2: 51,944
Intraday Support Zone: 51,500 - 51,600
Intraday Support 1: 51,500
Intraday Support 2: 51,100
🔍 Bank Nifty Options to Watch (June 26):
Call Option: 51,900 CE
Put Option: 51,500 PE
Remember to adapt your trading strategy based on these levels and scenarios. Happy trading! 🚀📊
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Since June 19th, Bank Nifty has been trading within a range of 51,136 to 51,944 after the Election Result Rally. Zooming out to a broader time frame, we observe price consolidation within this range, hinting at an imminent breakout to new highs.
Scenarios:
Scenario 1 (Gap Up):
- If Bank Nifty opens above or around 51,950, watch for resistance near 51,900.
- Consider buying if the price holds above 52,000 within a 30-minute time frame.
Scenario 2 (Flat Opening):
- If the price breaks the 51,500 support zone, expect a test of strong support at 51,136.
- A hold above 51,136 could lead to movement toward the upper limit of the range (around 51,900).
Scenario 3 (Gap Down):
- A gap-down opening with a break below 51,136 may result in a decline toward 50,500 and beyond.
- Strong breaks through support zones could trigger a significant breakdown toward 49,000 in the coming weeks.
-
✅ Bank Nifty Support and Resistance Levels:
Intraday Resistance Zone: 51,700 - 51,800
Intraday Resistance 1: 51,800
Intraday Resistance 2: 51,944
Intraday Support Zone: 51,500 - 51,600
Intraday Support 1: 51,500
Intraday Support 2: 51,100
🔍 Bank Nifty Options to Watch (June 26):
Call Option: 51,900 CE
Put Option: 51,500 PE
Remember to adapt your trading strategy based on these levels and scenarios. Happy trading! 🚀📊
#tradenxt
#bankniftyanalysis
#bankniftylivetrading
#livetrading
#stockmarketanalysis
#stockmarketanalysis24june2024
#IntradayTrading
#IntradayCalls
#BankniftyPredictions
#StockMarketPredictions
#bankniftytomorrowprediction
#niftyanalysis
#niftypredictions
#bankniftyoptions
#niftyoptions
#banknifty51900ce
#banknifty51800ce
#banknifty51500pe