Extended swing chart of nifty

 NIFTY 24530.9 [Hourly Chart]

Swing 1

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

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

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

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