BANKNIFTY Daily and Weekly Technical Analysis

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BANKNIFTY INDEX FUTURES (NSE:BANKNIFTY1!)

NSE:BANKNIFTY1! BANKNIFTY INDEX FUTURES

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BANKNIFTY Daily/Weekly timeframe analysis shows firstly that BANKNIFTY is following this Disjoint Channel from quite sometime this year. Also, shows that on higher side it needs to break above 36050 levels with force n volume with big single day candle to scare the bears and run for cover. This upmove can trigger a short covering rally and cause upward further momentum.
But chances of downside also can't be ignored as 36000 lvls can act as strong Resistance in this coming week.

Note: Levels are of BANKNIFTY futures n not of underlying Index

Penafian

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