BankNifty at make-or-break level
BankNifty showed good upside momentums in first session of 15th Sep and took resistance at ~46278.00 level then sellers dragged the market down and market could not break the level of ~46030.00 which used to be acting as a good level in 14th Sep session as well.
In second session again we got to see some upside momentum and market again could not break the ~46278.00 level and market eventually closed near the opening price.
We have 3 important levels for Monday
Level 1 - 46278.10
Level 2 - 46154.05
Level 3 - 46030.10
In Monday session,
if price breaks down level 3 we can go short and our target would be ~45842.80 level
if price breaks out level 1 then or opens gap-up our first target would be all time high and onwards.
But still the all time high level can act as a resistance level.
All the studies are made on 15 min and 5 min candlesticks
Act Wisely. Happy Trading :)
In second session again we got to see some upside momentum and market again could not break the ~46278.00 level and market eventually closed near the opening price.
We have 3 important levels for Monday
Level 1 - 46278.10
Level 2 - 46154.05
Level 3 - 46030.10
In Monday session,
if price breaks down level 3 we can go short and our target would be ~45842.80 level
if price breaks out level 1 then or opens gap-up our first target would be all time high and onwards.
But still the all time high level can act as a resistance level.
All the studies are made on 15 min and 5 min candlesticks
Act Wisely. Happy Trading :)
BKS
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.