Technical Analysis and Trading Plan for Nifty Bank Index
Nifty Bank Index (5-minute Chart)
Current Price: ₹49,519.50
Trend Analysis:
Resistance Levels: The index is approaching a resistance zone around ₹49,800 to ₹49,900.
Support Levels: A strong support zone appears between ₹49,400 and ₹49,000.
The recent price action suggests the formation of a potential bullish pattern as it attempts to bounce from the support zone.
Volume: Monitor the volume during breakouts; high volume could confirm strength.
Indicators: Look for indicators such as RSI to confirm overbought or oversold conditions.
Trading Plan for Nifty Bank Index:
Buy Entry: Above ₹49,800 with a confirmation candle.
Target Price: ₹50,100 and then ₹50,300 on upward momentum.
Stop Loss: Below the support level at ₹49,400.
Current Price: ₹49,519.50
Trend Analysis:
Resistance Levels: The index is approaching a resistance zone around ₹49,800 to ₹49,900.
Support Levels: A strong support zone appears between ₹49,400 and ₹49,000.
The recent price action suggests the formation of a potential bullish pattern as it attempts to bounce from the support zone.
Volume: Monitor the volume during breakouts; high volume could confirm strength.
Indicators: Look for indicators such as RSI to confirm overbought or oversold conditions.
Trading Plan for Nifty Bank Index:
Buy Entry: Above ₹49,800 with a confirmation candle.
Target Price: ₹50,100 and then ₹50,300 on upward momentum.
Stop Loss: Below the support level at ₹49,400.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.