After analyzing the BANKNIFTY chart on the 15-minute time frame, it appears that there is a noticeable bearish sentiment in the market. This is indicated by the current dominance of sellers, which suggests a potential downtrend in the short term.
As such, it may be wise to consider a short entry position at 39190. This would involve selling BANKNIFTY at the...
On Friday, the 17th of March 2023, the BANKNIFTY showed a strong close, indicating positive market sentiment and bullish momentum.
To capitalize on this momentum, traders can consider taking a long position with a target of 40800 and a stoploss at 38900. The support levels for the index are currently at 39500-39700 range, which suggests that the index has...
Banknifty standing just below a strong resistance zone of 41062 to 41256.
if banknifty crosses above 41256 then it may also cross above 41421 and may reach to the level of 41579.
between 41579 to 41733 is also an extremely strong resistance zone .
If Bank Nifty crosses over 41733 then it may reach to the level of 41887.
if banknifty crosses down below 41062...
Red line - sell below line
Green line - Buy above line
Black line Targets.
Shooting Star from the same strong resistance zone , it means
banknifty closed today taking downside pressure.
if nifty crosses downside you may see a good selling pressure in BN.
But if nifty broke upside you not not see good clean upmove in BN.
Banknifty is standing just above a good support of 40276.
if banknifty moves up from here then it may reach to the level of 40442.
between 40442 to 40562 is an extremely strong resistance
zone , banknifty may go down from here.
if Banknifty crosses over 40564 the it may easily cross 40717 and may reach to the level of 40878.
if banknifty crosses over 40878...
Banknifty standing just above a strong support of 42349.
if banknifty moves above 42349 then it may reach 42508 .
between 42508 to 42671 is also an extremely strong resistance zone .
If Bank Nifty crosses over 42671 then it may also cross 42814 and may reach to the level of 42966.
if banknifty moves down below where it left off then it may also cross 42191...
Banknifty standing just below a strong resistance zone of 42191 to 42349.
if banknifty crosses above 42349 then it may also cross 42508 and may reach to the level of 42671.
between 42671 to 42814 is also an extremely strong resistance zone .
If Bank Nifty crosses over 42814 then it may reach 42966.
if banknifty moves down below 42041 then it may take support...
Banknifty standing just above a strong support of 42966.
if banknifty crosses above 43113 then it may also cross 43266 and may reach to the level of 43418.
between 43266 to 43418 is also an extremely strong resistance zone .
If Bank Nifty crosses over 43418 then it may also cross 43571 and may reach to the level of 43713.
if banknifty crosses down below...
Banknifty standing inside a strong resistance zone of 42814 to 42966.
if banknifty crosses above 42966 then it may also cross 43313 and may reach to the level of 43266.
between 43266 to 43418 is also an extremely strong resistance zone .
If Bank Nifty crosses over 43418 then it may also cross 43571 and may reach to the level of 43713.
if banknifty crosses...
Banknifty standing just below a strong resistance zone of 41733 to 41887.
if banknifty crosses above 41887 then it may also cross 42041 and may reach to the level of 42191
between 42191 to 42349 is also an extremely strong resistance zone .
If Bank Nifty crosses over 42349 then it may reach 42508.
if banknifty moves down below 41579 then it may also cross...
Banknifty standing just below a strong resistance of 42671.
if banknifty crosses above 42671 then it may also cross 42814 and may reach to the level of 42966.
between 42966 to 43113 is also an extremely strong resistance zone .
If Bank Nifty crosses over 43113 then it may also cross 43266 and may reach to the level of 43418.
if banknifty moves down below...
Banknifty standing below a strong resistance zone of 43266 to 43418.
if banknifty crosses above 43418 then it may also cross 43571 and may reach to the level of 43713.
between 43713 to 43876 is also an extremely strong resistance zone .
If Bank Nifty crosses over 43876 then it may also cross 44034 and may reach to the level of 44187.
if banknifty crosses...
Banknifty standing just below a strong resistance zone of 43713 to 43876.
if banknifty crosses above 43876 then it may also cross 44034 and may reach to the level of 44187.
between 44187 to 44323 is also an extremely strong resistance zone .
If Bank Nifty crosses over 44323 then it may also cross 44481 and may reach to the level of 44644.
if banknifty moves...
Banknifty standing below a strong resistance zone of 43266 to 43418.
if banknifty crosses above 43418 then it may also cross 43571 and may reach to the level of 43713.
between 43713 to 43876 is also an extremely strong resistance zone .
If Bank Nifty crosses over 43876 then it may also cross 44034 and may reach to the level of 44187.
if banknifty crosses...
Banknifty standing just above a strong support of 42966.
if banknifty crosses above 43113 then it may also cross 43266 and may reach to the level of 43418.
between 43266 to 43418 is also an extremely strong resistance zone .
If Bank Nifty crosses over 43418 then it may also cross 43571 and may reach to the level of 43713.
if banknifty crosses down below...
Banknifty standing just below a strong resistance of 42349.
if banknifty crosses above 42349 then it may reach 42508 .
between 42508 to 42671 is also an extremely strong resistance zone .
If Bank Nifty crosses over 42671 then it may also cross 42814 and may reach to the level of 42966.
if banknifty moves down below where it left off then it may also cross...
Banknifty standing just below a strong resistance zone of 42508 to 42671.
if banknifty crosses above 42671 then it may also cross 42814 and may reach to the level of 42966.
between 42966 to 43113 is also an extremely strong resistance zone .
If Bank Nifty crosses over 43113 then it may reach 43266.
if banknifty moves down below 42349 then it may take support...
Banknifty standing just below a strong resistance zone of 42191 to 42349.
if banknifty crosses above 42349 then it may also cross 42508 and may reach to the level of 42671.
between 42671 to 42814 is also an extremely strong resistance zone .
If Bank Nifty crosses over 42814 then it may reach 42966.
if banknifty moves down below 42041 then it may take support...
