On hourly timeframe bank nifty took resistance near 42700 level. Bank nifty try to break level of 42700 more than 5 times so its prove to be a good resistance. So we can sell from below 42500 level till target of 42000. But for this a hour candle has to close below 42500, if closes we can sell. If bank nifty not able to close below 42500 then we can expect a possible upside breakout after 42700 brake with volume on hourly charts. There is a high possibility of upside move because BN try to consolidate near resistance. So trade safely with stoploss. see you for next idea.
BANKNIFTY
BANKNIFTY
Comment:
finally bank nifty break 42700 level and now it retest same level for further upmove.
