Banknifty analysis for 19/07/24.
Banknifty on the weekly time frame is still forming an inside candle. If it crosses the previous weekl high of 52800, a bullish trade can be made.
The hourly time frame, there is a inverted Head and Shoulder pattern and the high probability trade can be initiated as Nifty is trading around Life time high of 24800.
There is chances of BN catching up with other index.
Major Break out level :- 52800
Targets :- 53080, 53250
In case the market starts break down, trade only once it break the support zone of 52150-52200.
Wait for the price action around the levels before entering the market.
The hourly time frame, there is a inverted Head and Shoulder pattern and the high probability trade can be initiated as Nifty is trading around Life time high of 24800.
There is chances of BN catching up with other index.
Major Break out level :- 52800
Targets :- 53080, 53250
In case the market starts break down, trade only once it break the support zone of 52150-52200.
Wait for the price action around the levels before entering the market.
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