This is not for trading .. its just my view..
everything is wrote in chart..
Support
1) Bank nifty is near support which is 19k around. last 3 times it has bounced from there.
2) Trendline also support the level of 19k .. if you use Fibbo from 3rd Apr low to 30th Apr high .. you will get 0.618% retracement which is 19k around. (not draw in chart).
3) H&S pattern also trying to show 19k left/right shoulder base .
Resistance
1) Last two times price was rejected at 21k around. To break that rejection it has gap up (21400-21900) but could not hold and fall down.
2) Its trying to make H&S pattern. Its not completed yet. (Price should be 20800)
3) Retracement of previous swing also 0.618% which is near 21k (20800)
4) On daily chart you will see its making flag of fall.
All suggestion most welcome.
everything is wrote in chart..
Support
1) Bank nifty is near support which is 19k around. last 3 times it has bounced from there.
2) Trendline also support the level of 19k .. if you use Fibbo from 3rd Apr low to 30th Apr high .. you will get 0.618% retracement which is 19k around. (not draw in chart).
3) H&S pattern also trying to show 19k left/right shoulder base .
Resistance
1) Last two times price was rejected at 21k around. To break that rejection it has gap up (21400-21900) but could not hold and fall down.
2) Its trying to make H&S pattern. Its not completed yet. (Price should be 20800)
3) Retracement of previous swing also 0.618% which is near 21k (20800)
4) On daily chart you will see its making flag of fall.
All suggestion most welcome.