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.

Banknifty CHART

 

50360 is the trendline resistance level, which could act as a tough barrier for the index if it approaches this area.

49650 is the previous low breakdown resistance, potentially acting as a support level to watch.

If Bank Nifty closes above 49700, that could signal bullish momentum towards the 50360 resistance, which would suggest a potential upward breakout.

NIFTY Chart

 

Nifty and Banknifty monthly LEVELS

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 

 

nifty chart

 intra and trend levels for cash nifty and banknifty

Nifty chart

banknifty obly after yesterdays high breakout for new high, buy on dip market

expected some proit booking cash nifty 

Nifty chart

 As per Fibonacci and yesterdays closed levels holds 9000 will be good for 9631-9999+,

Any close below 9000 will be negative for 8682, 8411

nifty chart

Nifty cash and banknifty cash with levels trend only retracement for bounce actual positional trend still weak so be cautious on too much longs.

Nifty chart

Banknifty cash Crurrnt swing support at 29800

Nifty cash Weak below 11800  [already issued short from 11952-12098] cmp-11840 from 12034

Nifty chart

Cash nifty Any +ve close above 11365 will be good for 11444+ in intra and 2-3days for 11600+

Banknifty - cash - Expected short covering above 28180 up to 28460.  Negative breakout line at 28460 and Fibonacci resistance at 28680.  

So range breakout above 28460(Weekly)-28640(monthly) huge move above this numbers.  Fibonacci support 27400 below weak up to long term support  26900

Cluster of support 27760-27456-27124

Cluster of resistance 28220-28720-29206, 29728[Higher high 

resistance]-29850[Fibonacci resistance]

Nifty Chart

Nifty road map for 

Expected road Map for Banknifty

Nifty Chart

 Banknifty at retracement support

Nifty at swing support

Nifty Chart

Banknifty Range boundwith support and resistance

Nifty breakout above 11100

Nifty Chart

Cash bank nifty major support 27960 for bears to change the game

cash nifty multi year support 10960 key for bears

Nifty Chart

Nifty will bounce from the range 11148-10900 

Nifty Chart

Banknifty evidance with TGT

Swing 9687-11171 EXACTLY twice reversed from 78.6% same way 138.2% 11760 first now 11738, Global cues will issue some strength to break the resistance for 12100+

For full month Apr-2019, Support 10500© maintain to get the Target Monthly resistance 11800+ and 12100-150 to exit longs

Nifty Chart

Banknifty Cash -  O-27017 H-27029 L-26635 C-26794(-394 points volatility)
Short term trend line 26700 EXACTLY bounced and closed above from the low 26635.
Swings 27589-26441 78.6% at 26686 . So range 26686-26635 will took major support on hourly chart. Todays close must be positive for further bullish. Folded resistance 27097-27148-27252,

Nifty cash - O-10780 H-10785 L-10620 C-10424(-165 Volatility)
10004-11118 swing’s 38.2% at 10692,
10583-11118 swing’s 78.6% at 10698.
As per EMA’s of RSI still bullish, range 10692-698 Hold on closing basis with complete bounce back from 620 on closing basis from 61.8% of the swing 11118-10333
4th Wave of the swing holds 38.2% then 11322. Multi-level support maintain for 2019.
Short covering above negative breakout trend line 10855©

Nifty Chart

May touch 61.8% worst case 78.6% Banknifty

expect any gap down may bounce from 61.8%

Nifty Chart

Banknifty expected above 27350 good move

Nifty 10940 above good move