banknifty
banknifty
Support Zone 49799_trendline
Resistance Zone 50233_50404
The broader trend for the Bank Nifty is positive as it has been forming a ‘Higher Top Higher Bottom’ structure. The immediate support for the index is placed around 49,500, followed by the 40-day EMA support around 49,200. On the higher side, 50,300 is the resistance level. If surpassed, the index could rally towards the previous high of 51,000-51,200 in the near term.
Support Zone 49799_trendline
Resistance Zone 50233_50404
The broader trend for the Bank Nifty is positive as it has been forming a ‘Higher Top Higher Bottom’ structure. The immediate support for the index is placed around 49,500, followed by the 40-day EMA support around 49,200. On the higher side, 50,300 is the resistance level. If surpassed, the index could rally towards the previous high of 51,000-51,200 in the near term.
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