BN opened at 34817 almost at the same level it closed yesterdays trade. On the smaller timeframe, 5mts the trend shows continuing downwards almost with the same slope. The closing was just below the support line of 34730 If we observe the last 3 days pattern, it shows a reversal at 35500 level On a…
BN opened at 35259 right in between the support and resistance area. Made a journey to the first support area without spending much time. From 10.35 to 12.30 BN traded around the support level of 35096 (see the big yellow oval marking). The price action was pretty stable during this short time period, but the…
BN opened at 35298 gap down wrt yesterday’s closing mainly due to bad global cues. It immediately filled the gap by the 2nd candle itself. From there it was trading in a smaller range till 14.30. The price action from 14.30 looked very interesting and powerful — continous red candles with no pullback. And closing just below…
BN opened at 35017 rallied decisively through the resistance during the 1st candle itself. There was no immediate pull back indicating a strong upside momentum. There was a slight price action, a minor pullback from 10.30 to 11.45, and BN continued to rally from this interim low. Finally closed at 35442 Important S&R points support1:…
BN essentially traded around the support & resistance line of 35094. Multiple times it tried breaking the support from the top & breaking the resistance from the bottom. May be the supply/demand pressure would have been too low or too high that a trend continuation was not triggered. Or may be that BN is taking…
BN traded for 13 x 5mts candle before breaking out of the resistance line. There was a small pause and reversion at 34922 level, but the crossed resistance line of 34740 now acted as support and BN reversed to close at 34935 S&R levels s1: 34740, s2: 34367
Switching to 5minute candle for easier representation. BN opened at 33929 and hit the resistance at 34122 in the 2nd candle. A quick rejection didnt sustain and BN broke the resistance conclusively at 10.45 From 11.30 to 12.10, the 34122 acted as support and prevented BN falling further. At 13.10 BN hit the resistance of…
Bank Nifty opened strong at 34084 pretty strong near the resistance level 34126. The first 15mts candle did break through the resistance easily. BN tried to break the 2nd resistance at 34367, almost traded 1hr, 4 x 15mts candle and was rejected. At 13.45 it slid through the support at 34120. Although the next 2…
Opened at 33558 at the support level and did not trade below that conclusively. BN showed a slight pause at 33800 levels but broke that in by 14.45. The next resistance is at 34127 The nearest support is still 33565
