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).
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
SHORT-TERM TRADE IN BANKNIFTY
INDEX IS HOLDING ITS 21-BAR EMA ON HOURLY CHART
THIS SHOWS STRENGTH IN UP-TREND
TRADE IN BANKNIFTY 28TH FUTURE CONTRACT
LEVELS ARE ACCORDING TO SPOTS PLEASE ADJUST FOR FUTURES
TRADE IN OPTIONS
30500 14TH NOV CONTRACT CALL OPTION
BOB is showing some support around 85.65 zone
if broken it is likely to continue its fall which started in Jan 15.
What is probable is to find support in 82.65-74.95 zone and
if this happened we can see 150 levels in coming months
Long on pullback