BANKNIFTY // Levels // 4 hour "Welcome to SkyTradingZone "
Hello Everyone 👋
Here are the levels for the Bank Nifty (BANKNIFTY) based on a 4-hour chart:
**Resistance Levels:**
1. 34,400 - 34,500 (previous high)
2. 34,600 - 34,700 (psychological level)
3. 34,800 - 34,900 (resistance zone)
**Support Levels:**
1. 33,700 - 33,800 (previous low)
2. 33,500 - 33,600 (psychological level)
3. 33,300 - 33,400 (support zone)
**Key Levels:**
1. 34,300 - a crucial level to watch for trend continuation or reversal
2. 33,500 - a potential reversal zone
**Notes:**
* The Bank Nifty is currently trading around the resistance level of 34,200.
* A break above this level could lead to further upside momentum.
* A break below the support level of 33,500 could lead to a reversal in the trend.
* The levels listed are based on historical data and may not be valid in the future.
Please keep in mind that these levels are not a guarantee of future price movements and are only intended to provide general guidance. It's always important to do your own research and consider multiple factors before making any investment decisions.
Additionally, you can consider the following technical indicators to get a better view of the market:
* RSI: The Relative Strength Index (RSI) is currently around 55, which is in the neutral zone.
* MACD: The Moving Average Convergence Divergence (MACD) is currently in a bullish crossover.
* Bollinger Bands: The Bank Nifty is currently trading above the upper band of the Bollinger Bands, indicating high volatility.
Please consult other sources and consider multiple factors before making any investment decisions.
