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Bankniftytrading

BANKNIFTY--42700-42650 acts as Support??Observations: After A strong fall price mostly enters into consolidation stage. Previous strong resistance @42700 broken and showing bullish pressure towards 43000,43600 levels. (Price broken the 42700-42650 zone to downside and closes inside this zone.) If the same level acts as support price will again rise from this level, Strong fall happens from @43200-43100 level also be careful at this level before long will again see some bearishness in this zone. Try to be on the long side from 42700-42620 levels to reach 43000-43200 levels. Go long: Above 42850 to reach 43000,43100 levels. Short: Don't think of Short now. be on short side from 43200 levels up to 42850,42700 only. price breaks 42620 and gives retest go short for 42400 levels.
NSE:BANKNIFTYLong
by IIT-Trader
1
BANKNIFTY-Is Monthly expiry Bullish ??? Observations: Today bearish pressure observed at 42850 level, means not a bearish turn in bank nifty, The BANKNIFTY INDEX has been on an upward trend, with buyers successfully breaking through resistances at 42500, 42700, and tested @42850. They are now poised to reach untested supply zones at 43000, 43100, and 43400 levels. However, buyers may lack the necessary power to push the price higher, and if any of the previous supply zones act as support, the price could move back upwards. It is recommended to remain on the buy side within the range of 41500-41400, as no significant retracement has been observed after breaking the supply zone at 42500 level. If this level acts as support, monthly expiry is expected to be bullish.
NSE:BANKNIFTY
by IIT-Trader