Bank Nifty Analysis: Might be sideways : 25 April 2023BANKNIFTY:
OI show in favor of bulls
Top resistance at 43000 based on OI
Already at the daily DCPR.
Could sideway for first half and in second once it breaks the 42750 then could look for 43000.
For sell side, i will wait till it breaks the DCPR and retest.
NSE:BANKNIFTY
Cprdaily
BANK NIFTY - WEEKLY CPR LEVELSBanknifty is struck between the downward parallel channel, if you want to go long in bank nifty first it should break the upper trend line.
Second, it has to moved and sustain above the weekly CPR levels (35,300).
If these two condition met in upcoming days, one can go long in bank nifty, otherwise the price can drag down to 34400, 34000 levels.