BANKNIFTY 18287 The said 17600 level supported well, now the resistance is near18500. MACD is in bullish zone.
Comments
venkaticr
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From here where Bank Nifty Future will move till next Friday as the results will start coming in.
padiyara
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@venkaticr,
External influences like an election, a result session, or drought, rain, inflation etc. will definitely have impact on market, can give you a hint on direction, but not target levels.
And the indicators will help us defining the strength of force and direction.
Price levels can be calculated based on technical, like pivots, Fibonacci or wave extension levels, but not to be precise and definite, means it can varies depends on situations.
Same way Support & resistance can also be calculated from, a moving average, a trend line, pivots etc:
Here I expect BankNifty to go up further up, and next resistance will be 19493, as long as it trade above 18500 this resistance become a support now.