This is bank nifty 1hour chart in which decline from 46369 to 43600 is (a or i) and bounce from 43600 to 44950 is corrective wave (b or ii) and now wave (c or iii) is already started and its minimum projection range is 42180-41527. Use 44800 as stop loss for this trade.
High probability bank nifty could break 38730 ( 27th March 2023) and will dump to 35700 within 20th April 2023
Disclaimer:
It's a personal view not a financial advise and I assume no responsibility and liability whatever outcome arises
NiftyBank One Hour Chart Analysis with Option Chain Analysis
Support Zones
Frist Support Level For For Long Banknifty - 39225 - 39255
Second Support Level For Long Banknifty - 38755 - 38810
Third Support Level For Long Banknifty - 38300 - 38330
Resistance Zones
First Resistance...
Trade with Conviction.
NIfty is weak compared to Bn,, initiate trades on strong candle closing basis.
Look for Price action at important support and resistances.
Banknifty intraday levels and major reversal levels.
Guys dont be aggressive in current scenerio. try to follow the two candle theory either for intraday or swing trade setup.,.
Hi everyone, Banknifty index this week we`ve seen more than 2,400 points fall & it breaks 38,400 support on 1D chart and bounce back from 36,150 but again in last trading session it breaks 36,150 now next important support is 34,900 (Identified from harmonic xabcd pattern level 1.414) can take bounce but still breaks 34,900 support can go upto 33,900 level...
