BANKNIFTY Index is near support and if it is broken then the moment in the 56100 - 56000 range is expected. On the upside index has strong resistance at the 57500 level and as long as the index is below this level downside risk persists.
The upward moment may lead the Index to 57500 – 57600 resistance range in upward momentum and if the index crosses and sustains above this level then may reach near 58200 – 58300 range.
On the contrary, The downward moment may drag the Index to 56100 – 56000 support range in downward momentum and if this support is broken then the index may tank near the 55400 – 55300 range.
Trade closed: target reached
Gap down opening and recovered to high near 56745 than tank again to close near low 56295.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
Request for follow on X @rkmaurya_ra
Survey: Help us shape better advisory & learning services forms.gle/KdZGVk727dX4Ummc6
Request for follow on X @rkmaurya_ra
Survey: Help us shape better advisory & learning services forms.gle/KdZGVk727dX4Ummc6
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.