📈 BANKNIFTY Daily Analysis – June 4, 2025
Current Price: ₹55,616.80
Change: +₹16.85 (+0.03%)
---
🔍 Technical Outlook:
Rising Wedge Structure: Price is moving within a narrowing ascending channel — typically a bearish reversal pattern if broken.
Resistance Zone: Strong rejection seen near ₹56,161, suggesting supply pressure at highs.
PE Target Identified: ₹53,483 may act as the first target in case of short-term correction.
Imbalance Zone (Gap Area): Left behind from April rally; price may revisit this area to fill the inefficiency.
🧭 Potential Scenarios:
1. Short-Term Pullback: A dip toward the ₹53,483 PE target is possible.
2. Bounce Opportunity: Watch for a bullish reversal from either the PE target or the Potential Buy Zone at ₹52,000–₹52,500.
3. Bullish Continuation: If price holds above the channel, breakout above ₹56,161 could lead to a new rally.
---
📌 Key Levels to Watch:
Resistance: ₹56,161
Support: ₹53,483 → ₹52,000 (Buy Zone)
Imbalance Area: Could attract price magnetically
💡 Trading Idea:
Consider put options or short-term shorts toward ₹53,483.
Re-evaluate long positions near ₹52K zone with confirmation.
Current Price: ₹55,616.80
Change: +₹16.85 (+0.03%)
---
🔍 Technical Outlook:
Rising Wedge Structure: Price is moving within a narrowing ascending channel — typically a bearish reversal pattern if broken.
Resistance Zone: Strong rejection seen near ₹56,161, suggesting supply pressure at highs.
PE Target Identified: ₹53,483 may act as the first target in case of short-term correction.
Imbalance Zone (Gap Area): Left behind from April rally; price may revisit this area to fill the inefficiency.
🧭 Potential Scenarios:
1. Short-Term Pullback: A dip toward the ₹53,483 PE target is possible.
2. Bounce Opportunity: Watch for a bullish reversal from either the PE target or the Potential Buy Zone at ₹52,000–₹52,500.
3. Bullish Continuation: If price holds above the channel, breakout above ₹56,161 could lead to a new rally.
---
📌 Key Levels to Watch:
Resistance: ₹56,161
Support: ₹53,483 → ₹52,000 (Buy Zone)
Imbalance Area: Could attract price magnetically
💡 Trading Idea:
Consider put options or short-term shorts toward ₹53,483.
Re-evaluate long positions near ₹52K zone with confirmation.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.