Banknifty analysis for 26 feb 2024

Hello everyone,

Hope you find my analysis useful 🙏

Banknifty trade plan for 26th feb 2024

We'll do multi timeframe analysis as it's a fresh week start from tomorrow.

* Monthly TF inside candlestick.
* Bearish Diversion.
* Price is above on all MA
* Nearby resistance - 47230 & support - 47187

Weekly TF

* Inverted hammer made
* momentum upside
* Price reverse & with the support of 13 ma
* resistance - 47287 - support - 46259

Daily TF

* Bearish candlestick
* Price on 50 ma
* momentum slightly weak
* immediate resistance - 47050
Immediate support - 46580

Hourly & 30 min TF

* Bearish candlestick
* price is below 20 & 13 ma
* momentum weak
* resistance - 46900 - 47090
Support - 46660 - 46421


Intraday

Resistance - 46800 - 46875 - 46935 - 47030
Support - 46720 - 46670 - 46590 - 46482

All information given above is only for education purpose. No buy / sell recommendation. 🙏