Banknifty has reached its all time high of 49473.
Banknifty moved nearly 1200+ point and touched its new high. Also, its to be noted that Banknifty expiry is tomorrow as its an trading holiday on 1st May so plan your positions accordingly.
Since Banknifty is in its new high the resistance level is 49500. If it sustains above this level we can expect a move till 49800 to 50000.
If Banknifty trades below 49500 we can expect a bearishness in the market till the below support levels
I'm in a bullish view for Banknifty until the daily timeframe trendline is broken.
Note: This is only for educational purposes. Please do your own analysis before entry.
Banknifty moved nearly 1200+ point and touched its new high. Also, its to be noted that Banknifty expiry is tomorrow as its an trading holiday on 1st May so plan your positions accordingly.
Since Banknifty is in its new high the resistance level is 49500. If it sustains above this level we can expect a move till 49800 to 50000.
If Banknifty trades below 49500 we can expect a bearishness in the market till the below support levels
- Support 1 49000
- Support 2 48700
- Major support/Crucial level 48150.
I'm in a bullish view for Banknifty until the daily timeframe trendline is broken.
Note: This is only for educational purposes. Please do your own analysis before entry.
