12th July 2021 Analysis:
Overview: Banknifty trading in a tight zone as of now, new levels have been updated with the current volatility in the market.
Either it's a correction or a trend reversal. It's yet to be seen so we can have a view of not going on the long side as long as we are below 35520 levels. Once we are above then only look to buy else don't.
Banknifty resistance level: 35265/35520
If we open flat, and cross the triangle pattern on the upside then higher resistance levels can be tested but do not go aggressive buying until we have a closing above 35530 levels on the daily pattern.
Banknifty Support level: 34893/34630
Only if we form a price action below the triangle pattern, we can short BNF for lower levels of the target, but as 34630 is a good support zone we can see a good buying at that level.
DO SUPPORT AND LIKE & COMMENT IF YOU LIKE THE ANALYSIS :)
Overview: Banknifty trading in a tight zone as of now, new levels have been updated with the current volatility in the market.
Either it's a correction or a trend reversal. It's yet to be seen so we can have a view of not going on the long side as long as we are below 35520 levels. Once we are above then only look to buy else don't.
Banknifty resistance level: 35265/35520
If we open flat, and cross the triangle pattern on the upside then higher resistance levels can be tested but do not go aggressive buying until we have a closing above 35530 levels on the daily pattern.
Banknifty Support level: 34893/34630
Only if we form a price action below the triangle pattern, we can short BNF for lower levels of the target, but as 34630 is a good support zone we can see a good buying at that level.
DO SUPPORT AND LIKE & COMMENT IF YOU LIKE THE ANALYSIS :)