Looks like buyers have hold the day from falling also have positive closing if same continue in morning may be tomorrow buyers can dominate as per trend if breaks with volume 48300.
Also a round number zone so avoids false breakouts and traps at this levels.
Note : Make your own analysis before making any trading decision.
Incase You have been viewing the charts, you will find special markings in Red, blue and Green. These are very important areas and opening of the trade in the morning gives us a reasonable idea along with other factors as to how the day should proceed.
If you have been following the levels from the previous charts by now you would have seen the importance of how...
The price formed a raising veg pattern and gave a fake breakout. Here are some important levels. I am Bearish in Nifty 50, but nowadays the market does not behave as usual, so we cannot say anything in the closed market.
Bandhan Bank Trading At very Important Level.
As you can See Feb to march Bandhan Bank traded at same level but at that time look at the context .
At that time price consolidated at that Level and goes completely Sideways but now the scenario is very different , look at the context now it making Higher high at the Breakout Level with more Volume than...
This Levels Are Execute When The Markets Open In Range
Upside IMPORTANT LEVEL= 39400 Execute Your TRADE when Breaks The Level And Sustain Above This Level With 50-60 ₹ STOPLOSS
Support Level = 39000-39200
Note - EDUCATION PURPOSE ONLY
As discussed in the above analysis nifty fell to reach the channel support and formed a falling wedge pattern to break up and move towards the resistance zone as expected.
One can expect the price to climb further up breaking the channel top in the coming sessions.
Some important support and resistance levels.
ONLY FOR EDUCATIONAL PURPOSE, KINDLY DO YOUR OWN RESEARCH OR CONSULT YOUR FINANCIAL ADVISOR BEFORE TAKING ANY DECISIONS REGARDING TRADING OR INVESTING IN SECURITIES.