Friday, February 21, 2025

BANKNIFTY TEREND AND VIEW 24-2-2025 TO 28-2-2025

 

Technical Analysis of Nifty Bank Index

Support & Resistance Levels:

Resistance: Around 49,053 (Fib 0.382 level) – This is the upper red zone where the price is facing rejection.

Support:

48,904 (Fib 0.618 level) – Immediate support zone.

48,798 (Fib 0.786 level) – Strong support level (green zone).

Technical View:

Fibonacci Levels: The price is trading around the Fib 0.618 level (48,904). If it breaks below this, 48,798 is the next key support.

RSI Indicator (Relative Strength Index):

RSI is currently around 36, which indicates weak momentum but is approaching an oversold region (<30). A bounce could happen from lower levels.

Price Action:

The price is consolidating inside a range (green zone).

A breakdown below 48,798 can lead to further selling pressure.

A breakout above 49,053 will be bullish.

Trade Setup:

Buy (Long Entry): If the price sustains above 48,904 or rebounds from 48,798.


Target (TGT): 49,053 (first target), 49,200+ (if breaks resistance).

Stop-Loss (SL): 48,780 (below Fib 0.786).

Sell (Short Entry): If price breaks below 48,798 with strong volume.


Target (TGT): 48,600 – 48,500.

Stop-Loss (SL): 48,950 (above resistance).

Decision – Buy, Sell, or Hold?

Hold if already in a position, watching for a breakout.

Buy if the price rebounds from support 48,798 - 48,904 with RSI moving up.

Sell if the price breaks below 48,798 with strong selling volume.

Nifty Bank Index - Short, Medium & Long-Term View

📌 Short-Term View (Intraday to 1 Week)

Current Trend: Weak, trading near support levels.

Support: 48,798 (Fib 0.786 level)

Resistance: 49,053 (Fib 0.382 level)

RSI: Near oversold (36), potential bounce if support holds

Trade Setup:

Bullish Bias: Buy above 48,904, target 49,053+, SL 48,780

Bearish Bias: Sell below 48,798, target 48,600, SL 48,950

View: Neutral to slightly bearish unless price bounces from support.

📌 Medium-Term View (1 Week to 1 Month)

Trend: Consolidation with a bearish bias.

Price Range: 48,800 - 49,200 (Range-bound movement)

Breakout Levels:

Bullish breakout above 49,200 → Target 49,500 - 49,700

Bearish breakdown below 48,798 → Target 48,500 - 48,300

View: Wait for a breakout; bullish above 49,200, bearish below 48,798.

📌 Long-Term View (1 Month to 6 Months+)

Trend: Weakness from recent highs, forming lower highs.

Major Support: 48,500 (If broken, deeper correction expected)

Major Resistance: 49,500 - 50,000

Indicators:

RSI Near 40: Needs strength for long-term bullish momentum.

Volume: Low, signaling indecision.

Long-Term Strategy:

Bullish if above 49,500 → Target 50,000+

Bearish if below 48,500 → Target 48,000 - 47,500

🔍 Final Conclusion:

✅ Short-Term: Range-bound, watch for breakout.

✅ Medium-Term: Neutral, bullish above 49,200, bearish below 48,798.

✅ Long-Term: Needs strength; bullish only above 49,500.

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