The Support and Resistance Levels for the BankNifty. The most important Yearly Level for BankNifty @ 31584 got rejected and formed a Bullish pin bar of the weekly chart if the price holds above the level(31584) the next target will be 32763 (+575 Points) CMP @ 32187, if the level fails the next immediate support will be 30405 (- 1725 Points Approx).
one can go long on banknifty if dosent breach the support and also call & put data shows 31300 as support and 31500 as major resistance
Strong resistance seen around R1 31002-31069 & R2 31635-31749. BN @31115 which is R1 zone ...breaking the levels can move towards R2 use the levels to short with strict stops Respect risk....Happy Trading
Trade plan for 08 Nov 19...watch out for the levels mentioned Happy Trading....Respect Risk
Strong Resistance seen @ 30707 levels Cautious stance on higher side will be a good idea Possibly we may see 29917 levels in coming sessions..
Banknifty Intraday Analysis || BANKNINFTY
Cautious stance is the best way to trade BNF now....any rally can be used to short BNF....respect risk
From Fibonnaci level resistance And wave pattern