Bank Nifty Futures has broken above the key resistance zone around 56,000, signaling bullish strength. Price has formed higher lows and is currently trading near recent highs with strong momentum.
📌 Key Zones & Levels:
Resistance Turned Support: ~56,000
Immediate Supports (Sup): ~55,820 and ~55,750
Bullish Order Block (OB): ~55250–55350 (previous demand zone)
🔍 Observation:
A clean breakout above the previous resistance zone with good volume.
Two minor support levels are holding post-breakout, which may act as intraday retest zones.
Price rallied sharply from the demand (OB) zone on May 30th, showing strong buying interest.
🎯 Trading Plan:
Watch for retests near 55820–55750 for long opportunities with bullish confirmation.
If price revisits the OB zone near 55,250, it may provide a high-probability long setup.
Maintain bullish bias above 55,750; a close below may weaken momentum.
📅 Chart Timeframe: 15 Min
💡 Idea Type: Breakout Continuation / Retest Entry Setup
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.
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.