BANKNIFTY Intraday 02 JUN | Breakout or Breakdown Scenario

2 Jun

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 55,610 and the support at 55,476 . The structure suggests price is coiling, and a decisive move beyond either level could trigger a directional breakout.

• Key Levels:
Resistance: 55,610
Support: 55,476


• Breakout Scenario:
If price breaks and sustains above 55,610 :
TP1 (1:1): 55,744
TP2 (1:2): 55,878
TP3 (1:3): 56,012

• Breakdown Scenario:
If price breaks and sustains below 55,476 :
TP1 (1:1): 56,342
TP2 (1:2): 55,208
TP3 (1:3): 55,074

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

Information and analysis provided is for educational purposes only.

2 Jun

Dagangan ditutup: sasaran tercapai

📈 BANKNIFTY – Intraday Summary | 2nd June 2025

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🔹 Morning Analysis:
BANKNIFTY started the session consolidating within a tight range:

Resistance: 55,610
Support: 55,476

A breakout or breakdown move was expected once either level was decisively breached.

🔹 Breakout Scenario Levels (Triggered Today):
TP1: 55,744 ✅
TP2: 55,878 ✅
TP3: 56,012 ⏳ (almost hit)

🔹 Market Movement:
BANKNIFTY broke above the 55,610 resistance, triggering the breakout setup. It hit both TP1 and TP2 targets successfully. The index continued upward momentum and came very close to TP3 (56,012), indicating strong bullish strength but closed just below that final level.

🔚 Closing Note:
BANKNIFTY followed the breakout plan effectively, delivering two solid intraday targets and narrowly missing the third. A high-conviction breakout with strong participation.