It is clear from above that Bank Nifty has attempted several times to sustain above "44,520" level but failed. A beautiful Supply has been formed on 1Hr TF, so above supply "Bullish" & below supply "Bearish" or "Range Bound"
BANKNIFTY is on the way to form "M" Pattern Price Action on 1 Day TF. Any Breakout on "Upside" or "Downside" will give a decisive price action.
Market is looking weak by "Global Cues". If, bank nifty sustains above 39500 and CE side positions start diluting in 1st hour of market...."Go Long".
Bank Nifty Analysis on 1 Hr chart. Candles should close Above or Below on Hourly Chart. Trade with Diligency.
Support and Resistance Levels are perfectly plotted on chart. Valid on 15Mnts TF as well
#nifty50 is at very crucial level of 14950, if this level breaks we may see a little support at 14828-800. if #nifty50 breaks and sustain below 14800, next target may come at 14650 or below.