BankNifty Analysis - As mentioned in earlier weekly analysis of BANKNIFTY, 34000 was a strong buying zone, please check linked chart analysis of previous week for more detail.
1. DEMAND ZONE 34000.
2.Broke 34000 but reversed immediately, strong buying from SUPPORT ZONE.
3.BUY -
1. If trades above 35000.
2. Stop 34800.
3. Target - 36000, 37000, 38000.
4. SELL -
1. If gives weak pull back below 34000 as shown in the analysis.
2. Stop above 34000.
3. Target - 30000.
1. DEMAND ZONE 34000.
2.Broke 34000 but reversed immediately, strong buying from SUPPORT ZONE.
3.BUY -
1. If trades above 35000.
2. Stop 34800.
3. Target - 36000, 37000, 38000.
4. SELL -
1. If gives weak pull back below 34000 as shown in the analysis.
2. Stop above 34000.
3. Target - 30000.