Why Banknifty is in a Range

27 Nis 2022

Banknifty is trading between a range of 37000-35750. In today's session we saw index dropping till 35750 and then reversed back to close above 36000. There are multiple Camerilla Support levels which will hold banknifty from falling, 35750 is one of them that's why index saw reversal. 37000 has been proven as a psychological resistance level, and a gap which was created between 13-18April is working as a resistance zone now. Now talking about further actions we might see prices swinging between these ranges as stated and breakout of any of these level will take index to another territory.