BANK NIFTY

 

1. 
   
   Recent Swing: 54467 - 46077:
   • This refers to a significant price movement in Bank Nifty, from a high of 54467 to a low of 46077. This swing can be used to calculate Fibonacci retracement levels.

2. Retracement Levels at 78.6% = 47872:

   • You have identified the 78.6% Fibonacci retracement level at 47872, which is a critical level for potential support or resistance. The 78.6% level is often considered a strong area of interest for price reversals.

3. Actual Low at 47898 with Positive Divergence:

   • The actual low was slightly above the 78.6% level (47898). The positive divergence means that while the price made a new low, a technical indicator (like RSI or MACD) made a higher low, suggesting weakening downward momentum and a potential reversal.

4. Sustained Above 78.6% for the Past 4 Days:

   • The price has been consistently staying above the 78.6% level (47872) for the last 4 days. This is a bullish sign, as the market has held above a key Fibonacci level, indicating potential strength.

5. Made a High of 49459 and Closed Below 61.8% (49282) at 49278:

   • The price reached a high of 49459 but closed below the 61.8% Fibonacci retracement level (49282) at 49278, which suggests some weakness or selling pressure at this level. The 61.8% retracement is often seen as a key resistance zone in a corrective move, so the close below it may indicate difficulty in moving higher.

Analysis:

• The positive divergence at the low near 47898 and the price sustaining above the 78.6% retracement level for 4 days is a strong indication of potential support and a reversal.
• However, the recent high at 49459 and the subsequent close just below the 61.8% retracement level (49282) signals that the market is encountering resistance. This suggests that while there is bullish potential, there is still some selling pressure or uncertainty at higher levels.

Key Levels to Watch:

• Support: The 78.6% retracement level at 47872, which has held for the past 4 days.
• Resistance: The 61.8% retracement level at 49282, with the recent close of 49278 just below this level.

NIFTY CHART

 It seems like you meant "positive divergence from 25/10/2025", but the date appears to be in the future. You might have meant 25/10/2023 or another past date. Assuming you meant a previous date, here's what positive divergence typically refers to in technical analysis:

• Positive Divergence occurs when the price of an asset is making lower lows (a downtrend), but an indicator (like the RSI, MACD, or stochastic) is making higher lows. This suggests that although the price is dropping, the momentum behind the price movement is weakening, and a potential reversal or trend change could be on the horizon.
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Swing 26277-21281: This could refer to a price range or a historical movement of a particular financial instrument.

Support at 61.8% at 23189: This indicates a Fibonacci retracement level where there is expected support or resistance based on Fibonacci ratios. In this case, 23189 is identified as a key support level at 61.8% retracement from some previous move.

Sustained above this level for the past 2 days: The price has been trading above 23189 for the last two trading days.

Consecutive 3 close is good for +ve: If the price closes above 23189 for three consecutive days, it is seen as a positive sign, potentially indicating further upward movement.