MARKED are the resistance levels for BANKNIFTY, find the support?
Educational Purpose.
SRTRANSFIN as Option trade expiry between 600-700
fundamnetally NegATIVE TO NEUTRAL (SHORT TERM/6 MONTH) TECHNICALLY on levels looks weak and can slide further invalid if 2850 /2900 kicks out and sustain long term buy beautiful at 1450 to 1600 bracket
Doji at resistance and support is a deadly combination for trading
Watch out might go down or up... 3980 crucial LEVEL...
INDUSIND continue to range bound between 300-480. it may consolidate here for a prolanged duration.
We can see a inverted Pole-Flag pattern on NIFTY daily chart.
breakup at 2454 will give rally upto 2500, it has been trying in the last few sessions to close above 2450. if it sustains then that momentum will take it new 52W High.
Analysis based on Support and Resistance Strategies.
if ABBOTINDIA opens gap up it is will rally to previous highs. if it closes below 16349 on daily chart. it will fall further. more over pole flag pattern also seen on daily chart.
POSITIONAL LONG RANGE 14.50 TO 10 SUPPORT 8 (weekly closing basis) UP-SIDE 150 170....
Last week candle was not able to sustain above its supply zone @ 21150-21800. Even it failed to close in this supply zone. On the downside, there is a demand zone @ 19500-19650 and weekly close is above this zone. In any case, weekly close below 19500-19650 another 1500-2000 points downside range will open.