Today's analysis- Today bnf gave a flat opening. The first candle on 15 min TF is a bearish candle, although the candle has a wick but the body of the candle is larger than the wick and close is near the low of the candle. This indicated that there is weakness in bnf, which was again validated by the next 2 candles(long upper wick shows price rejection by the bears).
BNF came down to the major support zone of 35500 where it filled the gap. From this levels you can see two strong bullish candles, which indicated strong buying in the last half an hour. 35500 is therefore a very important level for bnf. If this level is broken then bnf will go upto 35000 levels. Chances are less that bnf will give expiry below this level tomorrow.
Tomorrow analysis- The last half an hour of buying indicated that there should be a reversal from this level. Depends on how bnf gives opening tomorrow. If bnf gives opening above 35500 levels with a strong bullish candle, then it will go upto 36000 levels.
If 35500 is broken, then next major support according to option chain data is 35000.
Trendline is broken and there is hidden bullish deivergence in rsi as well, so bank nifty should go up.
BNF came down to the major support zone of 35500 where it filled the gap. From this levels you can see two strong bullish candles, which indicated strong buying in the last half an hour. 35500 is therefore a very important level for bnf. If this level is broken then bnf will go upto 35000 levels. Chances are less that bnf will give expiry below this level tomorrow.
Tomorrow analysis- The last half an hour of buying indicated that there should be a reversal from this level. Depends on how bnf gives opening tomorrow. If bnf gives opening above 35500 levels with a strong bullish candle, then it will go upto 36000 levels.
If 35500 is broken, then next major support according to option chain data is 35000.
Trendline is broken and there is hidden bullish deivergence in rsi as well, so bank nifty should go up.