BANKNIFTY Index has resistance near 555000 level and as long as Index is below 55000, Index has downside risk. On the upside, more upside momentum is expected when the Index crosses and sustains above the 55000 level.
The upward moment may lead the Index to 55400 – 55500 resistance range in upward momentum and if the index crosses and sustains above this level then may reach near 56100 – 56200 range.
On the contrary, the downward moment may drag the Index to 54000 – 53900 support range in downward momentum and if this support is broken then the index may tank near the 53300 – 53200 range.
Trade closed: target reached
Gap up opening with high near 55045 and drag to low near 54580 then reversed again to close near 55000.
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.