BANKNIFTY Daily Analysis

📈 BANKNIFTY Daily Analysis – June 4, 2025

Current Price: ₹55,616.80
Change: +₹16.85 (+0.03%)


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🔍 Technical Outlook:

Rising Wedge Structure: Price is moving within a narrowing ascending channel — typically a bearish reversal pattern if broken.

Resistance Zone: Strong rejection seen near ₹56,161, suggesting supply pressure at highs.

PE Target Identified: ₹53,483 may act as the first target in case of short-term correction.

Imbalance Zone (Gap Area): Left behind from April rally; price may revisit this area to fill the inefficiency.
🧭 Potential Scenarios:

1. Short-Term Pullback: A dip toward the ₹53,483 PE target is possible.


2. Bounce Opportunity: Watch for a bullish reversal from either the PE target or the Potential Buy Zone at ₹52,000–₹52,500.


3. Bullish Continuation: If price holds above the channel, breakout above ₹56,161 could lead to a new rally.




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📌 Key Levels to Watch:

Resistance: ₹56,161

Support: ₹53,483 → ₹52,000 (Buy Zone)

Imbalance Area: Could attract price magnetically
💡 Trading Idea:

Consider put options or short-term shorts toward ₹53,483.

Re-evaluate long positions near ₹52K zone with confirmation.