Bank Nifty

Bank Nifty 53603.6 CASH NSE

 48636-42105 EXACTLY reversed from 61.8% Create some swing trades for the TARGET of 53860

and 261.8% at 59203+.  20/9/2024 Touched 54066 and closed at 53793, closed below 53860.

Retraced up to 50194 from 53793

5/12/2024 Again touched 53888 and closed at 53603, below 53860

Extended issue first retracement 57437.  

Implies stiff resistance at 53900 for the TARGET 57437-59203+ [previous charts 261.8% [positional]

Nifty CHART

CASH  Nifty 24457.20

The recent swing exactly bounced from 61.8% 

Indicates for minimum 38.2% of 23.6% 

Already closed above 38.2% implies a good support range of 24370-24300

for the TARGET 25098-25105 range.  

nifty analysis, nifty, nifty chart, NSE, rsi, MACD, EMA, Candle stick, Fibonacci, Trend, TRADING

Banknifty Analysis

 BANKNIFTY CASH 52055.60

Banknifty Support 51900 for 52918+

Traded below 51900 will lead to a negative zone for 51700 and 51300

last 4-5 hours on closing basis bank nifty protected by 51900 on closing basis

Nifty Analysis

NIFTY 24131.10 [Cash nifty NSE]

 LATEST swing generates resistance at 24163 for 24570+

Good support at 23897 for 23763

As per Fibonacci, 180% may be stiff resistance, So sideways with negative bias 

for the whole day

MACD suggests that support for any trade below 24000 will lead to next support 23897 and 23763

Negative divergence on the daily chart also, so any holding long will protect with proper / convenient Stop loss