Range between (48450-48375) Between the red box market will be consolidate . Here at 48371 good volume was traded at Friday. So here all bull and bear are present.
Intraday resistance 1: 48413
Intraday Support 1: 48203
Intraday target resistance 1: 48605
Intraday target Support 1: 48000
Banknifty Current Cntract Future
There is a perfect Resistance Zone
So as per the Peanut pattern if break upper side Buying come if break lower side sale proceed
This Month's week starting with Future sale by FII
Already taking the Proper Fib Retracement its go Down.
Brief look the chart and take a proper observation before trade
BANK NIFTY had no strong supply zones above, but turned bearish due to broader market sentiments and followed nifty, i have given all levels and zones and channels to follow. Kindly watch carefully the zones to trade.
Bank Nifty opened below my zone and remained whole day between my two zones and ended finally under the zone which it opened. it is still in the channel.
I hope for small correction yet before bank nifty gives a big up side break out. Keep trading around the zones and levels.
Today 05 August 2022, Bank Nifty started from just below the channel crossed it went to the zone of 38270-38132, got rejected from there, broke back the channel and ended below it.
Simplly the Power of Zones, hope you loved it.
No Major changes for 08 August 2022, Monday, Just the shift of 2 zones and channel.
Keep ur money and risk management in control and...
Hope you found the zones useful today, it reversed from the first supply zone, came done 900 pts from open and consolidated for the remaining part of the day between two demand zones continuously.
Bank nifty increased its fall speed only after it broke the channel, that was the best entry point to short today.
W pattern failed today could not give the target due...
Hope u traded my levels today, due to high volatility today, levels were breached twice, still it gave good trades.
If BNF opens in the drawn channel, kindly dont miss the break out of that channel. Respect the zones and trendlines when u trade.
