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Banknifty Update for May 11, 2020


Banknifty opened gap up and broke 19800 levels resistance, face resistance @ trend line, made top @ 19969.60 but could not sustain and moved down. It closed @ 19352.90. It also closed below Gann No 19700 for the 4th consecutive trading session. The whole structure still remains weak until it breaks above 20100.

The hourly chart shows MACD Histogram line (blue) faced resistance at the upper end of the channel and reversed (shown by Ellipse shape). Prices are still moving in the range of 19300-19800. We will have to wait & watch still we see a strong breakout on either side for a good swing trade.



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  1. DariyaOctober 3, 2020 at 3:09 PM

    Great work ! I am very interesting to read your blog post. Thanks for sharing
    Nifty breaks at 11K
    Nifty
    sensex




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