Nifty Chart

 It looks like you are analyzing the Nifty index (or a similar instrument) using Fibonacci levels, with a focus on the Election Low (21281) and LTH (26277) as key reference points. Here's a breakdown of your analysis and conclusions:

Key Points:

1. Election Low (21281) & LTH (26277):

   • You're using these as significant levels for your Fibonacci analysis.

2. 78.6% Retracement of the latest swing:

   • You mention that the 78.6% retracement from the Election Low (21281) to the LTH (26277) occurs around 22350.

3. Key Swings and Fibonacci Extensions:

   • The 126.8% extension from the LTH points to 22455.
   • The 180% extension of the swing suggests a strong reversal around 21986, and the actual low formed was 21964, indicating that the market bounced sharply from this level.

4. Bounce and Targets:

   • After the bounce from 21964, you've noted that the 161.8% Fibonacci target sits at 22420.
   • This indicates a potential stiff resistance range between 22420-22455, suggesting that the market could face a challenge breaking above this zone.

5. Resistance and Trade Setup:

   • 22420-22455 is seen as a stiff resistance range.
   • A close above this range would signal the possibility of further upside, with a potential move towards 22515-22535.

Conclusion:

• 22420-22455 is a crucial resistance zone. If the price manages to break and close above this range, it could be a good signal to go long for targets in the 22515-22535 range.
• Support around 21964 (based on the 180% extension) could serve as a potential floor for the market in the near term.

Would you like further insights into risk mana

Banknifty CHART

BANKNIFTY 48489

 It looks like you're analyzing the Bank Nifty index with a focus on Fibonacci retracements and key resistance levels. Here's a summary of your analysis and how the levels you've mentioned might play out:

• Current Level: The Bank Nifty is currently at 47873, which aligns with the 78.6% Fibonacci retracement of the latest swing (Election low to LTH). This is a significant level to watch because retracement levels often indicate potential support or resistance areas.

• Old Swing: You also referenced the previous swing from 44429 to 49974, with a 180% extension level. The price reversed sharply from this level and bounced from the 38.2% retracement, which suggests that the 47855 level (very close to the current 47873) is playing an important role as support.

• Resistance Levels:

  • 48665: This level is formed by the confluence of swing resistance and a trendline resistance.
  • 48700: This is marked as a stiff resistance, and it aligns with the high of 48657 from yesterday. The index closed below this at 48489, indicating the market struggled to sustain above this level.
  • 48700 is now a key level to watch, as a break and hold above this would suggest further upside potential. However, unless the price clears and stays above this level, the index may face downward pressure.

If you're trading or investing based on this analysis, you should monitor these key levels closely. A break above 48700 could lead to further upside, while a rejection or failure to break through may result in another move downward or consolidation around the current levels. Keep an eye on the daily closes and volume for confirmation of the trend.

NIFTY EXPIRY

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Banknifty Analysis

 

support near 47095-47000 (which coincides with the 23.6% Fibonacci retracement level of the swing from 42105 to 48636).

Here are the key takeaways from your observations:

Support & Base Formation

• 47800 zone has acted as a strong demand area multiple times (Jan 13, Jan 27, and Mar 3).
• 47095-47000 is a crucial support range and could be the final low before a bounce.

Resistance & Upside Levels

• 48636-48700 is a critical resistance zone. Bulls need to break this convincingly for further upside.
• If it breaks, we may see a test of 50641 (previous high) and eventually 53861 (180% swing level).
• If rejected from 48636-48700, another dip toward 47095-47000 could be possible.

Strategy Consideration

• Above 48700, strength can be expected, targeting 50641 first and possibly 53861 later.
• Failure at 48700 may lead to another correction, possibly retesting 47095-47000 before a bigger bounce.
• Watch price action near 47800 closely. If this holds, it can be an accumulation zone.

Would you like to discuss potential entry/exit strategies based on this analysis?