The BANK NIFTY futures chart is signalling critical levels
🚀 Attention NSE and StockMarketIndia traders!
The BANK NIFTY futures chart is signalling critical levels you don't want to miss. We've got a strong resistance around 53,160, marked by a Fibonacci retracement level at 0.618 level.
This level has been tested multiple times, showing the market's hesitation to break through. If we see a close above this level with volume, it could indicate a bullish breakout, targeting the next Fibonacci level at 0.786. On the downside, watch the 52000 supports, which aligns with the 0.382 Fibonacci retracement level.
A break below this could lead to a deeper correction, potentially testing the psychological 50,000 mark before finding a base.
As the Fibonacci retracement shows the compelling price swings between the levels of 0.382 & 0.5 at the horizon. The Fibonacci time-based extension predict the price movement at the vertical time frame.
Volume spikes are crucial here; increased volume on upward moves could validate a bullish scenario, while high volume on declines would suggest a bearish continuation.
Stay vigilant, set your stop-losses wisely, and be ready for volatility. The market is at a pivotal point. Follow stocktechbot for continuous updates and insights.
The BANK NIFTY futures chart is signalling critical levels you don't want to miss. We've got a strong resistance around 53,160, marked by a Fibonacci retracement level at 0.618 level.
This level has been tested multiple times, showing the market's hesitation to break through. If we see a close above this level with volume, it could indicate a bullish breakout, targeting the next Fibonacci level at 0.786. On the downside, watch the 52000 supports, which aligns with the 0.382 Fibonacci retracement level.
A break below this could lead to a deeper correction, potentially testing the psychological 50,000 mark before finding a base.
As the Fibonacci retracement shows the compelling price swings between the levels of 0.382 & 0.5 at the horizon. The Fibonacci time-based extension predict the price movement at the vertical time frame.
Volume spikes are crucial here; increased volume on upward moves could validate a bullish scenario, while high volume on declines would suggest a bearish continuation.
Stay vigilant, set your stop-losses wisely, and be ready for volatility. The market is at a pivotal point. Follow stocktechbot for continuous updates and insights.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.