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BankNifty Support and Resistance levels

Banknifty is in rising wedge formation as we look at current levels it is at low of the channel 52400 area acting as support in case of this support voliates invalidation of channel and below levels can be tested 52200,52000,51800. In case held at support area it will continue with pattern making prices to check higher levels with minor resistance at 52800 area and major hurdle at 53250 to 53400 area where one needs to be cautious look for rejecion or breakout.

Please note that supports and targets mentioned can act as reversal check price action with price movements.

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5 Minutes chart for reference

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Still in the range

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short at resistance

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交易結束：目標達成

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for tuesday support and resistance levels , if triangle voilate long invalid

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low of the channel got voilated below mentioned targets acheived 51800

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major trendline support held now immeadiate hurdle is 52400 as resistance to downside 52075 immeadiate support for Friday.

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short on resistance area where sell off happened previously

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250 points covered

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Premium chart of 52400 PE entry

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done 105 premium points target acheived.

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This week jul 15th to jul 19th support and resistance still in same range of last week watch out for turning points S/R.

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Resistance 52650 area and support 52350 area until broken precisely and sustains above or below then only a proper trade can allow, stay away inside this zone premiums will decay.

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If head and shoulder is valid it will check the higher levels upto 53300 to 53400 and if head and shoulder is invalid below marked levels will be checked till 51200 to 51300 area.

18/07/2024 Thursday

As of now support is 52350 for intraday and resistance is 52650 area above or below only good moves anticipating other wise sideways in between range.

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still in range either it broke the resistance and head and shoulder above 52600 area nor below right shoulder of head and shoulder with support 52200 area

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