BANK NIFTY - DEMAND & SUPPLY AREAS

BANK NIFTY TREND ANALYSIS

BANKNIFTY IS NEAR A VERY STRONG AREA OF SUPPORT ON DAILY CHART.
IT HAS BEEN MOVING SIDEWAYS FROM 21400-22000, IN THE PAST 3DAYS. A BREAK ABOVE 22000 LEVELS WILL INITIATE LONG POSITIONAL

POSITIONAL LONGS CAN ONLY BE INITIATED WITH A BREAK ABOVE 22000 LEVELS WITH VOLUMES
AREAS OF RESISTANCE R1 - 22480-22550 // R2 - 22720-22850 // R3 - 23050-23200
AREAS OF SUPPORT S1 - 21450-21500 // S2 - 21000-21120

Comentarios:

BANK NIFTY SLOWLY AND GRADUALLY MOVED IN THE UPWARD DIRECTION TAKING SUPPORT FROM OUR LEVELS MENTIONED ABOVE -
AT HIGHER LEVELS THEY FACED REJECTION AND HUGE SELLING PRESSURE TOOK PLACE, TAKING SUPPORT AGAIN AT OUR LEVELS OF S1 MENTIONED.