BANKNIFTY Intraday 06 JUN | Breakout or Breakdown Scenario

6 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 55,746 and the support at 55,701 . The structure suggests price is coiling, and a decisive move beyond either level could trigger a directional breakout.

• Key Levels:
Resistance: 55,746
Support: 55,701


• Breakout Scenario:
If price breaks and sustains above 55,746 :
TP1 (1:1): 55,791
TP2 (1:2): 55,836
TP3 (1:3): 55,881

• Breakdown Scenario:
If price breaks and sustains below 55,701 :
TP1 (1:1): 55,665
TP2 (1:2): 55,611
TP3 (1:3): 54,566

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

Information and analysis provided is for educational purposes only.

6 Jun

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🔹 BANKNIFTY – Intraday Summary | 06 JUN 2025
Closing: 56,584.80 (+817.55 / +1.47%)
Day High: 56,695.00
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📈 Market Recap:
BANKNIFTY was the star mover today with high volatility in the initial session, testing both breakout and breakdown scenarios multiple times before settling into a strong upside rally.

🔸 Early Session:
• Price broke below key support at 55,701, activating the breakdown setup and hitting all three downside targets:

🎯 TP1: ✅ 55,665
🎯 TP2: ✅ 55,611
🎯 TP3: ✅ 55,566

🔸 Mid to Late Session:
• From the lows, the index reversed sharply, broke above 55,746, and triggered the breakout scenario — again achieving all targets:

🎯 TP1: ✅ 55,791
🎯 TP2: ✅ 55,836
🎯 TP3: ✅ 55,881

What made today stand out was the repeated re-tests of both zones. BANKNIFTY briefly dipped into breakdown territory again, only to reclaim levels with strength — leading to a final breakout rally that extended well beyond targets, touching an intraday high of 56,695.
This action signals strong institutional buying and short covering.


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🧠 Key Takeaway:
“BANKNIFTY was a perfect example of a whipsaw zone that transitioned into a high-momentum breakout.”
Repeated level tests and reclaim signals often precede strong directional moves. Staying reactive, not predictive, was the winning mindset today.