Intraday analysis
Bank Nifty 15-minute timeframe analysis:
- Encountering strong monthly resistance
- In a weekly supply zone
- Exhibits a cup and handle pattern, confirmed by the weekly supply and monthly resistance levels
- If the pattern breaks, the first target is between 47350 and 47300, followed by a second target of 47000
- If the price breaks upwards past 48000 on a 30-minute timeframe, the first target would be the all-time high
- Encountering strong monthly resistance
- In a weekly supply zone
- Exhibits a cup and handle pattern, confirmed by the weekly supply and monthly resistance levels
- If the pattern breaks, the first target is between 47350 and 47300, followed by a second target of 47000
- If the price breaks upwards past 48000 on a 30-minute timeframe, the first target would be the all-time high
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