BNF Closes with Positive Note

Yesterday, the BNF (Bank Nifty) closed below the trendline and exactly at the resistance level. However, today it opened with a gap up and managed to sustain above the trendline. Notably, it respected the previous resistance level as a support level. Finally, it closed at 46062. This suggests a potential bullish momentum as it successfully broke through the resistance level and found support at the previous resistance level.

If the BNF (Bank Nifty) opens tomorrow with a gap up and remains relatively flat, there is a chance of it moving towards its all-time high (ATH) again. The major resistance level to watch out for is 46164. If the BNF manages to break above this level, it could potentially reach the ATH once more. However, if a gap down occurs at around 45838, it is likely that selling pressure will be seen in the market.