Bank Nifty major demand zone @ 17500-17600. If it sustains below this zone it may test it’s next support @ 16650 and demand zone @ 15300-15600. If it will manage to sustain above it’s demand zone then I may see OTM call and put.
Bank Nifty closed below its major supply zone @ 19300-20000. This is also an important zone on the weekly and monthly charts. Now sustain below this zone Bank Nifty may test its next demand zone @ 17500-17800.
Yesterday Nifty closed above its very short term major supply zone @ 8000-8100. On the upper side next demand zone @ 8250-8330. Once it sustains above this zone it may test it’s next very short term major supply zone @ 8520-8660. It’s not easy to sustain above this zone. In any case, if it will manage to sustain then it may test its next supply zone @ 8880-9000....
As I have mentioned yesterday post that if Nifty sustains below 8050 it may test 7650. Today it closed @ 7610. Now two major demand zones on the long term chart are clearly seen at 7000-7250 and 6300-6500. On the upper side, there are two supply zones @ 7850-8000 and 8250-8350. It will be a good selling opportunity if Nifty will test the upper zone of these...
22970-22330 is a demand zone. Once It will sustain below its upper zone level then it may test 22330 which is a lower level of this zone. On the upper side, 23440-23570 and 24250-24500 are supply zones.