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Nifty Bank Index

Bank Nifty Analysis for 19-04-2024

Oleh Shree_Traders
BNF is trading near the 1hour timeframe support of 47000. As mentioned in my previous analysis, once the ascending channel pattern was broken in 1 day time frame BNF took the support of 47000 zone and reversed. Still BNF is trading between zones of 47000 & 47400.

It is to be noted that BNF has fall 2000 points from its ATH in this week.

  • If BNF moves upward we will have a immediate resistance of 47750.
  • Below are the resistance levels to watch

  1. Resistance 1 47750
  2. Resistance 2 48250


  • If BNF moves downward and breaks the major support at 47000. We can expect a fall till 46600.
  • Below are the support levels to watch

  1. Support 1 46600
  2. Support 2 46000
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