BANK NIFTY (16/04/2020) TECHNICAL ANALYSIS (CHARTING)

15 Nis 2020

As per my analysis, BANKNIFTY if breakout above (19300 - 19400), One can see an uptrend in the BANKNIFTY. If BANKNIFTY breaks the lower thin support of 18776 (approx 18700), One can see a down trend in the BANKNIFTY.

Technical Analysis shows:
Resistance 1: 19300 - 19400
Support 1: 18350 - 18450
Support 2: 17150 - 17250

AVOID TRADING WHILE BANKNIFTY IS NEAR IT'S SUPPORT. AS PER THE SENTIMENTS ARE CONCERNED, BANK NIFTY MIGHT TRADE BEARISH DUE TO ECONOMIC SLOWDOWN AND LOCKDOWN IN THE COUNTRY DUE TO COVID-19.