Bank Nifty Hourly
Bank Nifty hourly charts is trading below its 50 HSMA ,Closing above 12120 bounceback can be seen till 12300-12500.
Bank Nifty Daily
Bank Nifty on daily chart is near its resistance area.Breakout comes above 12300 for target of 12550 and 12700.Unable to do so we can see pullback till 11800 odd levels.
Bank Nifty Fibonacci fan is near its Fibo Fan support level as seen in above chart.
Fibo Retracement also signalling resistance @12293 which is 80% retracement. Closing above 12300 only will give firepower to Bulls else bears will be having upperhand below 12050
Bank Nifty Weekly
Bank Nifty after doing a weekly breakout made a big bullish engulfing pattern rallying almost 10.4% 2 week before and a perfect doji candle last candle to consolidate the gains. Bulls will regain strength only above 12300 and bears below 12056.
Bank Nifty Monthly
Bank Nifty has risen 12.3% in March series till date.Fibo arcs has shown effect on Monthly basis.
Bank Nifty Trading Levels
Bank Nifty Trend Deciding Level:12120
Bank Nifty Resistance:12186,12300,12446
Bank Nifty Support:12056,11926 and 11790
Levels mentioned are Bank Nifty Spot
Let me go by Disclaimer these are my personal views and trade taken on these observation should be traded with strict Sl
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