Bank Nifty Hourly
Bank Nifty has been facing resistance at 50 Hourly SMA @12585.Holding 12361 upmove till 12585 can be seen.
Bank Nifty Daily
Bank Nifty has broken the up trending channel and took support at upper gap area of 12363, Holding 12363 one more attempt to cross and close above 1283 will be made failure to do so we will see pullback rally 12000 .
Bank Nifty Fibo Fans
Fibo Fans has been applied on Bank Nifty weekly charts and its show 12780 emerging as resistance,BN made high of 12783 and pulled back 🙂 Support at per Fibo Fans comes at 12000.
Bank Nifty Fibo Retracement
78.6% retracement of current upmove from 10900-12755 comes at 12357 took support at that levels and Golden ratio 61.8% comes at 12042 is the next level of defense for bulls.
Bank Nifty Weekly
Bank Nifty weekly charts formed shooting star candlestick formation which is a potential reversal pattern which needs confirmation with trade below 12363.
Bank Nifty Monthly
Monthly charts are approaching the long term trendline and made another attempt to touch the trendline @12783 . Pull back till 12000 can be expected in BN
Bank Nifty Trading Levels
Bank Nifty Trend Deciding Level:12363
Bank Nifty Resistance:12500,12585 and 12680
Bank Nifty Support:12288,12200 and 12095
Levels mentioned are Bank Nifty Spot
Let me go by Disclaimer these are my personal views and trade taken on these observation should be traded with strict Sl
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