Banknifty View : Intraday Levels for 12th July 2021

12th July 2021 Analysis:

Overview: Banknifty trading in a tight zone as of now, new levels have been updated with the current volatility in the market.

Either it's a correction or a trend reversal. It's yet to be seen so we can have a view of not going on the long side as long as we are below 35520 levels. Once we are above then only look to buy else don't.

Banknifty resistance level: 35265/35520

If we open flat, and cross the triangle pattern on the upside then higher resistance levels can be tested but do not go aggressive buying until we have a closing above 35530 levels on the daily pattern.

Banknifty Support level: 34893/34630

Only if we form a price action below the triangle pattern, we can short BNF for lower levels of the target, but as 34630 is a good support zone we can see a good buying at that level.


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