Banknifty 50933.4

Lower top trend line and Negative break out trend line at the same place at 51195

Close above this level is good for 51500+ then possible for LTH 

 

Banknifty 50985.70

Lower top trend line resistance at 51256

so long only on closing basis above this level
 

 Nifty 24811.50

Negative divergence Hourly CHART

so be cautious on intra longs 

Long only above 24830(C) basis

 Banknifty 50685

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Support at 50542-50400 range current swing's 38.2%

Lower top Trend line resistance at 50900 [breakout neck line]

for the target 51597-51600

Fresh entry range above 51150 only and 

with out risk close above 51600, close above this level is good for LTH

 Nifty 24770

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Resistance range 24746-24777 for 24826-845

Any GAPUP around 24826-845 range is for profit booking and 

risk takers short also with sl 24860(C)

Before  move to 25536-25400 range some consolidation 

with profit booking is good 

swing 25078 -  23893 78.6% at 24825

swing 24472-23893 161.8% at 24830

yesterday mentioned same for the tgt 24825+

already we got 24787 high and closed at 24770

Bank nifty 50803.10

======================================

Support at 50542-50400 range current swing's 38.2%

Lower top Trend line resistance at 50900 [breakout neck line]

for the target 51597-51600

Fresh entry range above 51150 only and 

with out risk close above 51600 

 Nifty 24697.80

 ====================================== 

Resistance range 24746-24777 for 24826-845 Any GAPUP around 24826-850 range is for profit booking and risk takers short also with stop loss at 24860(C). Before moving to the 25536-25600 range, some consolidation required with profit booking is good.

Swing's 25078- 23893 78.6% at 24825

Swing's 23893-24472 161.8% at 24830

Yesterday I mentioned the same for the target 24825. Already we got 24734 high and closed at 24698. 

Stiff resistance and profit booking / short at 24825-850 range

 Banknifty 50368

STRUCKED in between 50542-49690 from 2-8-2024

same as like nifty RSI reached selling pressure

Nifty  SWING 23893-25078's 61.8% at 24625

Hourly two candle at the same place

and RSI on selling pressure with OB zone

So 24630(C) is fear zone for 24820+ with short covering

Extended swing chart of nifty

 NIFTY 24530.9 [Hourly Chart]

Swing 1

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Swing 24402-24141 hit 261.8% (24824) [1st Chart]

////////////////////////

In hourly  on 18th Jul high at 24829 closed at 24799 [below 24824]

In hourly  on 18th Jul high at 24837 closed at 24800 [below 24824]

In hourly  on 19th Jul high at 24854 closed at 24769 [below 24824]

All these three candles closed below 24824

If swing extended point 161.8% (24563) [2nd Chart] 

On 15-7-2024 Nifty closed above 24563 at 24567.9 with high of 24598

Swing 2

///////////////////////////////

Now check 2nd Chart 161.8% at 24831

////////////////////////////////

In hourly  on 18th Jul high at 24829 closed at 24799 [below 24831]

In hourly  on 18th Jul high at 24837 closed at 24800 [below 24831]

In hourly  on 19th Jul high at 24854 closed at 24769 [below 24831]

All these three candles closed below 24831

Implies TGT of 24467 [23.6%]

 Bank Nifty  52265.6 [Daily chart]

1 Swing 53303-51749 61.8% at 52710

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12/7/2024 High at 52794 closed at 52544 [below 52710]

18/7/2024 High at 52782 closed at 52265 [below 52710]

2.Swing 44511-51133

///////////////////////////////////

61.8% at 47040 [5-6-2024 low at 46446 closed at 49054]  and 

78.6% at 45928 [4-6-2024 low at 46077 closed at 46928]

3 Swing Hourly chart

//////////////////////////////

swing's 51128-53303 low 51749 closed at 42207 [11-7-2024]

50% at 52216

--------------------

11-7-2024 low 51749 closed at 52270

12-7-2024 low 52171 closed at 52278

13-7-2024 low 52154 closed at 52455

18-7-2024 low 52168 closed at 52620

19-7-2024 low 52146 closed at 52265

All candles closed above 52216 [52200 strong Support]

4 Swing 51749-52784

/////////////////////////////////////

61.8% at 52148 maintained support at lows every time from 15-7-2024

So 52216-52148 Strong Support

Below this support Bank Nifty may hit at 51358-51300 range

Strong resistance 52700 for further new high on closing basis only[Chart 3]

05/7/2024 high at 52817 closed below 52700 at 52660

08/7/2024 high at 52710 closed below 52700 at 54425

12/7/2024 high at 52794 closed below 52700 at 52278

15/7/2024 high at 52662 closed below 52700 at 52455

18/7/2024 high at 52782 closed below 52700 at 52620