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Bankniftytrading

Banknifty for 14 Nov-18 Nov 2022 multi timeframe analysisBanknifty is trading at all-time highs. Friday's close was at 42137. Monthly chart October Candle: Big Bull Candle, suggesting bulls are in the driving seat. RSI: Above 60 - Bull Range with high momentum. November Price Action till now: The month started with a gap up opening at 41552 vs the previous month's close @ 41307( 245 points), right now near month high. Monthly support @ 39000-39100, above this level, banknifty most probably moves higher, and a dip would be an opportunity to accumulate or create fresh positions. Monthly Verdict : Positive Weekly Chart Candle: Indecisive candle at high, suggesting increased volatility, though the candle is HH HL structure, any dip would be an opportunity to buy. Weekly Support @ 40320 -40550 RSI @67 - Bull range Weekly Verdict: Positive Daily Chart Price Action: Friday was a gap-up opening at 42137 vs the previous day's close at 41603( approx 534 higher). Candle: Doji at highs - suggesting high volatility and wild swings moving forward. Immediare Support : 41380- 41400 Immediate Resistance: 42350 - 42420 RSI : 67 - Bull Range Verdict: Positive - Buy on dip and trade with Strict SL Hourly Chart Immediate Intraday support at 42117 ( May or not get hold) Further Intraday support @ 41700 CMP: 42137 Wait for a dip or trade with the Monday's first 15 min or hourly candle low's Stop loss.
NSE:BANKNIFTY
by manuagarwal21
03/11/2022 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys, Good Morning Everyone, As per data Banknifty today will open with a gap up now we have again two option for trade. *Now banknifty making lower high formation if banknifty taking resistance below 41200 then open target 41800 - 41600 *If Banknifty after a gap down opening break the lower higher formation and sustain above 41200 then need to to break last day high for a up trend. if banknifty not break last day high then may be banknifty today playing in a range *Major level 41200 level
NSE:BANKNIFTYShort
by mr_bull10
1
01/11/2022 BANKNIFTY SUPPORT AND RESISTANCE ZONEHello Guys, Good Morning Everyone, Today also Banknifty will open with a gap up so may be today after a gap up banknifty showing reversal trend. Then we have two option . *After a gap up if banknifty break last three day high (41560) level and sustain above then focus on long side. * After gap up respect last resistance level (41560) and marking resistance then focus for reversal trend if break 41200 low then open target level 40800
NSE:BANKNIFTYShort
by mr_bull10