BANK NIFTY GANN ANALYSIS FOR MONTHLY EXPIRY OF 29 MAY 2024
Bank Nifty hits a high at important level of 49671.30 as the chart shown. Momentum shorts triggered below 49356.30 level. After the top formed we got two good opportunities to short at that level both yesterday and today. Third opportunity was little below the level at 49327.75 at the afternoon candle of 12:45 seen on chart. Target was 49096.15 which was achieved all the three times with support at the level of 49043.95.
For tomorrow this cluster levels of 49096.15 and 49043.95 are important as support. if broken down we may see expansion on downside to 48887.10. The level of 48887.10 is the trend decider level. If broken then expiry could be in the hands of bears. o the upside the resistance can be seen at 49200.75. Above this bulls will be in control and take the index till 49357.60 and above. Use the volatility in your favour with the levels given and make some decent profits.
Happy Trading !!!
N.B. Not a financial advice to buy or sell.
With usual disclaimers as applicable within the reach of this
beautiful trading analysis platform. Thanks to the developers
of the program for this opportunity to use it freely to
express our ideas to the community of traders.
For tomorrow this cluster levels of 49096.15 and 49043.95 are important as support. if broken down we may see expansion on downside to 48887.10. The level of 48887.10 is the trend decider level. If broken then expiry could be in the hands of bears. o the upside the resistance can be seen at 49200.75. Above this bulls will be in control and take the index till 49357.60 and above. Use the volatility in your favour with the levels given and make some decent profits.
Happy Trading !!!
N.B. Not a financial advice to buy or sell.
With usual disclaimers as applicable within the reach of this
beautiful trading analysis platform. Thanks to the developers
of the program for this opportunity to use it freely to
express our ideas to the community of traders.
Disclaimer
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