BANKNIFTY Index is near 55500 - 55600 resistance range and upside momentum is expected to continue when index breaks and sustains above this resistance range. On the downside, Index has strong support in the 55200 - 55000 range and reversal is expected in any downside.
The upward moment may lead the Index to 56600 – 56700 resistance range in upward momentum and if the index crosses and sustains above this level then may reach near 57300 – 57400 range.
On the contrary, the downward moment may drag the Index to 55200 – 55100 support range in downward momentum and if this support is broken then the index may tank near the 54500 – 54400 range.
Trade closed: target reached
Gap up opening with low near 56720 and made further high to 57845 with close near 57775.
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.