BANKNIFTY Intraday 28 MAY | Breakout or Breakdown Scenario

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BANKNIFTY – Key Levels Setup | Breakout or Breakdown Scenario

According to the price action observed at session start , BANKNIFTY is currently consolidating between the resistance at 55,331 and the support at 55,244 . The structure suggests price is coiling, and a decisive move beyond either level could trigger a directional breakout.

• Key Levels:
Resistance: 55,331
Support: 55,244


• Breakout Scenario:
If price breaks and sustains above 55,331 :
TP1 (1:1): 55,418
TP2 (1:2): 55,505
TP3 (1:3): 55,592

• Breakdown Scenario:
If price breaks and sustains below 55,244 :
TP1 (1:1): 55,157
TP2 (1:2): 55,070
TP3 (1:3): 54,983

"Stay neutral, stay ready. Let the chart pick the direction."

Information and analysis provided is for educational purposes only.

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BANKNIFTY – Intraday Movement Summary | 28 May 2025

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At the start of the session, BANKNIFTY was consolidating between the resistance at 55,331 and the support at 55,244, as noted in the pre-market analysis.

During the session, price broke above the resistance level of 55,331, confirming the breakout scenario.

After the breakout:

TP1 (55,418) was achieved successfully.

The index further moved up toward the next resistance area, touching close to TP2 (55,505) but did not convincingly sustain above it.

However, no significant continuation followed, and the price eventually retraced back toward the original resistance zone around 55,331, hovering in a tight range for the rest of the session.

📊 Conclusion: Although the breakout above resistance was valid and the first target was achieved, the market lacked momentum to follow through significantly. The index spent much of the session moving sideways around the resistance zone, reflecting low directional conviction after the initial move.

At least BANKNIFTY did not trigger the sell-side move below support, whereas NIFTY remained indecisive throughout the session, failing to commit strongly in either direction.