Postmortem on Bank Nifty — 08 Jul 2022

ByBalachandran Viswaram

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 a pause from over a 2000 point rally over the last week.

Fascinating to see the 1st & last candle close at the same value

Important SR points

s1: 34740, s2: 34367

Originally published at https://viswaram.substack.com on July 8, 2022.

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