Friday, February 28, 2025

BANK NIFTY VIEW OF THE MARCH MONTH 3-3-2025

 

Analysis of Nifty Bank Index Chart

Key Levels Identified:

Resistance Levels:


48,515.30 – Strong resistance zone where price rejected earlier.

48,400-48,450 – Trendline resistance in a descending pattern.

Support Levels:


48,311.20 – Immediate support, where price is currently testing.

48,163.75 – Next key support below current price.

48,088.20 – Major support level, acting as a crucial base.

Short-Term View (Intraday to 1-2 Days)

Trend: Price is in a consolidation phase after a pullback from highs. A break below 48,311 may lead to a test of 48,163, while a bounce could target 48,400-48,450.

RSI: Showing a bearish crossover near 39, indicating potential weakness.

Trade Plan:

Bullish Scenario: If price holds 48,311, a rebound towards 48,450-48,515 is possible.

Bearish Scenario: If price breaks below 48,311, it may test 48,163-48,088.

Medium-Term View (Few Weeks)

Trend: Lower highs indicate a potential downtrend unless price breaks 48,515 convincingly.

Target:

Upside: If price crosses and sustains above 48,515, next targets are 48,700-48,800.

Downside: A breakdown below 48,163 could trigger a decline towards 48,000 or lower.

Long-Term View (Few Months)

Trend: Broader trend remains uncertain, with price facing resistance at 48,515.

Key Zones:

If 48,515 breaks, long-term bullish targets are 49,000+.

If price fails to hold 48,000, a deeper correction could happen.

Trading Strategy:

Target: 48,450-48,515 (Bullish) | 48,163-48,088 (Bearish)

Stop Loss: 48,350 (For shorts) | 48,250 (For longs)

Risk-Reward: Favor shorts below 48,300; longs above 48,400

No comments:

NIFTY OVERVIEW

  📊 Nifty 50 Index Analysis (Short-Term) Based on the 1-minute chart provided, here is a detailed technical and fundamental view with targe...