Falcon Analytics Outlook for BankNifty for Expiry the week (Feb 21 – Feb25)
Technically on the daily charts we see minor support on the downside for BankNifty index lies at 36878 levels, whereas minor resistance on the upside is capped around 38261 levels.
If BankNifty 50 index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 36451//35760 and and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 38688/39380 .
Currently BankNifty 50 index is trading above 200 days exponential suggests long term trend is Bullish.
Falcon Analytics predicts range for the week is seen from 35760 on downside and 39380 on upside.
( All Spot Levels)
RESISTANCE 3: 39380
RESISTANCE 2: 38688
RESISTANCE 1: 38261
WEEKLY PIVOT LEVELS: 35750
SUPPORT 1: 36878
SUPPORT 2: 36451
SUPPORT 3: 35760
All above views for education purpose only.
Regards, MD
액티브 트레이드
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Banknifty Fut Goes Short @ 37340
매매 수동청산
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Covered Short Banknifty Fut @ 37677 ( trade closed)
액티브 트레이드
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BANKNIFTY Fut Goes Short @ 37664
매매 수동청산
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Banknifty Fut shorts Covered @ 37675 ( trade closed )