Resistance@30500
First Support@30000
Second Support@29500
Tomorrow as it is expiry, Bank nifty may be in the range bound between 30000 to 30500 if it opens in gap up and from 29500 to 30000 if it opens gap down
Hi All
I have shared the banknifty retracement levels. One can take it as reference . To do the trading use your own strategy as bank nifty is always high volatile . Retracement levels are 40-80 %. If bank nifty goes to nearby 80 % than clearly it will be trend reversal and banknifty will go again in upside.
Sustaining 30680 - 30740 will make the price to move towards 30860, 30940, 31180, 31320 and 31440. Bearish below 30640 forr the targets 30520, 30320, 30180, 30020, 29860 and 29740.
Bank Nifty was bullish for last 3 weeks and is now showing signs of stagnation and reversal with 2 doji on 3 hr timeframe and bearish divergence with RSI any breakdown below 30000 can see sharp fall
Trendline observation(s). Very Steep Trendline formation. Strong Positive Bias? What's next? BO above 30200? Breakdown/Consolidation? I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
