BankNifty Analysis 25 June Consolidation and Potential Breakout

Jun 24

📈 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):

• 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! 🚀📊

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