Banknifty is falling getting rejected fro decending trendline on daily timeframe (marked as Red trendline).
it got rejected from this trendline on 05 Apr, 03 Jun & 05 Jul.
major support near 32300 and 33000 levels (marked as Green Horizontal Lines).
upside expected only if this trendline is broken with good volume with strong candle.
else downside is expected in banknifty till 33000 and 32300 if 33700 broken.
33700 acted as a support level 4 times and as a Resistance level 8 times on daily timeframe.
so 33700 is an important level.
Banknifty:-
Sell below 33700
T1 - 33000
T2 - 32300
SL - 34100
good upside is looking possible once it cross 34800 and retest it.
Please consult your financial advisor before investing. This is only for Educational Purpose.
it got rejected from this trendline on 05 Apr, 03 Jun & 05 Jul.
major support near 32300 and 33000 levels (marked as Green Horizontal Lines).
upside expected only if this trendline is broken with good volume with strong candle.
else downside is expected in banknifty till 33000 and 32300 if 33700 broken.
33700 acted as a support level 4 times and as a Resistance level 8 times on daily timeframe.
so 33700 is an important level.
Banknifty:-
Sell below 33700
T1 - 33000
T2 - 32300
SL - 34100
good upside is looking possible once it cross 34800 and retest it.
Please consult your financial advisor before investing. This is only for Educational Purpose.