Bank Nifty Analysis: Symmetric Triangle Targets Met

7 באוג׳

Bank Nifty successfully hit both targets from the recent symmetric triangle pattern within two days and is now consolidating near the 15-minute and 1-hour support levels.

Immediate Support: 49,620
Immediate Resistance: 50,420 and 50,700

If the support at 49,620 is breached, we could potentially see a move down to the 48,850 level. Watch these key levels closely for trading opportunities.

8 באוג׳

הערה

Respected immediate Resistance level of 50,420.
If Bank Nifty has to go up it needs to sustain above 50,700

9 באוג׳

הערה

Resistance at 50,700 (as noted in the analysis) has been respected, with the price consolidating between 50,420 and 50,700. This consolidation is occurring at a critical level. If the price manages to hold above 50,550, it could lead to a continuation of the uptrend. However, if it fails to do so, we might see a drop to 48,850.