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Bankniftytechnicals

Bank Nifty Trade setup for 06 MAY 2022Bank Nifty Trade setup for 06 MAY 2022 Bank Nifty formed a inside day bar on daily time frame closing around previous day low. The CPR is bearishly aligned for tomorrow with formation of continous descending CPR for fourth consecutive session. Closing is below the next day CPR & hence tomorrow CPR will act as a strong resistance. GAP UP Opening : In case of Gap up opening, 35453 should act as a first resistance to watch out. Any resistance around these we can expect BN to again test Previous day low & further levels. GAP Down Opening : In case of Gap down opening below PDL, we can expect first support around 35000 levels & S1 getting compromised we can expect 34792 & lower Target1 & Target2. Flat Opening: In case of flat opening, we will wait for rejection from PDL & go short or a support at Previous day low we can go for quick scalp to CPR.
NSE:BANKNIFTY
by RaviChandran_Rajkumar
1
Bank Nifty trade setup for 25 APR 2022Bank Nifty trade setup for 25 APR 2022 Bank Nifty is likely to open around 35600/35500 levels. The immediate support for this is 29 MAR Virgin CPR zones, the low of that is 35400. Hence we can expect some support around these levels and can expect a reversal. In case if this this getting compromised we can expect Bank Nifty to test out 35000 where the next support is found. We will initiate the trades based on the confirmation of support & resistance around these levels based on the indicator triggers.
NSE:BANKNIFTY
by RaviChandran_Rajkumar
Bank Nifty Trade Plan for 26 OCT 2021Bank Nifty looks well poised after making new highs and forming a very narrow CPR for today. In case BN opens flat to small gap up, any pull back to CPR and takes out 41300 levels we can expect it test Bearish Breakout of 41555. In case if that is taken out we can expect 42K. In case if 41000 is taken out on lower side and sustains then we can expect Shorting opportunity for Bearish Breakout 40465 and previous Virgin CPR to act as a good support.
NSE:BANKNIFTY
by RaviChandran_Rajkumar
Bank Nifty Trade Setup for 09 Sep 2021Expecting a flat to small gap up opening in case of Bank Nifty. Bank nifty traded pretty bullish the yesterday session and closed above next day CPR. In case of Bearish Reversal zone of 36895 is taken on the opening and find support we can expect Banknifty to again test out Bullish Breakout zone of 37022 & Target 1 & Target 2. In case if the open is flat and Previous day high is giving resistance we can expect it test Bullish Reversal zone of 36641. Any good support at 36641 we can again expect BN to go and test the Bearish Reversal zone and higher. Unless Bearish Breakout zone of 36513 is compromised on lower side no shorting opportunities.
NSE:BANKNIFTY
by RaviChandran_Rajkumar