Banknifty 25/5/2021 Intraday Levels

24 May 2021

Hello Everyone,
Hope you all are fit and fine ... Stay Safe and Trade safe...!

As predicted in previous analysis, BnkNifty Opened Gap Up following Ascending Triangle Pattern ( ATP ), which basically is Bullish .

BankNifty to Open Gap Down .... Tomorrow ...!

Resistance Level :
1. 35000 is next strongest Resistance level .
3. Good resistance exists at 35500 and New Resistance is developing from 35200 to 35350.

Support Level :
1. 34000 is Strong Support level .
2. 34500 is next Good Support Level .

Sideways Possibility :
More chances of Downward sideways market, close to 34500 .

Trend Line :
Black Line : Sell Below Black Trend Line.
Red Line : Buy above Red Trend line.

Important Note:
More chances of Gap Down opening, and may see a reversal around 34600 to 34500 being Support Zone.
Need large volume to break 34500 as indicated by larger Red Arrow.
As the Resistance is building strong at 35000 level it seems that at least for first half market would be in down and sideways.

*Imp Note :
Support and Resistance Marked keeps on changing as the day progresses and new trader joining.
Strong Support and Resistance will act atleast for first half and may be broken with large volume as we saw in next half.


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