23 May 2024 - BankNifty stance is bullish now, but 48947 crucial
BankNifty Analysis - Stance Bullish ⬆️
Yesterday we changed the stance from bullish to neutral as 48115 resistance was not breached, but that break came by 09.51 today. Hope you got my email when we revised the stance back to bullish via trading view.
The intraday rally was a whopping 957pts ~ 2.00% and we took out 2 resistances today viz - 48115 and 48661. The next one is at 48947. On a higher time frame, BN will receive more momentum once this resistance is taken out. The reason was the rejection of this level on 10th April and that may have a bearing.
Yesterday we changed the stance from bullish to neutral as 48115 resistance was not breached, but that break came by 09.51 today. Hope you got my email when we revised the stance back to bullish via trading view.
The intraday rally was a whopping 957pts ~ 2.00% and we took out 2 resistances today viz - 48115 and 48661. The next one is at 48947. On a higher time frame, BN will receive more momentum once this resistance is taken out. The reason was the rejection of this level on 10th April and that may have a bearing.