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#Banknifty Trading Near Important Support Zone

Nifty Bank Index (NSE:BANKNIFTY)  
TradZoo Aggiornato   
NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Chart Patterns Beyond Technical Analysis BANKNIFTY bankniftytradesetup indextrading technicalanalysisexplained tradzoo marketstructure
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trendanalysis chartpattern beyondta banknifty bankniftytradesetup indextrading technicalanalysisexplained tradzoo marketstructure
On Daily Timeframe, BANKNIFTY trading at important support zone. Time to wait for either breakdown or reversal for the Banknifty.

Case 1: Consolidation Move
- Banknifty can consolidate near this support level before the strong movement
- Consolidation zone is nearly 500 points from 44000 to 44500 level

Case 2: Breakdown Move
- Confirmation for breakdown will be if Banknifty starts trading and sustain below 43500 level
- Downside rally nearly 2500+ points expected in case of breakdown
- Intermediate support expected near 42500 level
- Short Trader can place there stop loss if banknifty starts trading above 44550 level

Case 3: Long Side Move
- Long side movement expected in case banknifty starts trading and sustain above 44550 level
- Above this level banknifty can go upto the 46400-46500+ level.
- Intermediate resistance expected near 45500 level
- Long trader can place there stop loss if banknifty starts trading below 43500 level.

To be continue. We will keep posting next update in comment section....

Commento:
Breakdown of support level. Sharp Downside Expected in market
Commento:
43050 Made Low
Commento:
Below 42500 @1st target reached
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