BANKNIFTY OVER VIEW

 trend setup, including target, stop loss, support, and resistance, based on the BANKNIFTY overview from 

🔹 Trend Setup (Bullish Bias) Candlestick Pattern: Bullish candlestick on daily & weekly charts.

RSI Signal: RSI has crossed into a bullish zone—momentum is building.

Market Sentiment: Positive sentiment with a bullish undertone.

RBI Meeting Note: Caution advised as RBI policy could act as a trigger.

📌 Support and Resistance Levels Support (S1, S2):

Key Support Zone: 55,200 (mentioned in the report).

S1: 55,466

S2: 55,183

Resistance (R1, R2):

Key Resistance Zone: Near 56,000

R1: 55,923

R2: 56,097

🎯 Target and Stop Loss Setup Entry Zone: Around current levels (55,750) if momentum continues upward.

Target (Upside):

Target 1: 55,923 (R1) – conservative profit-taking.

Target 2: 56,097 (R2) – moderate bullish breakout level.

Target 3: Beyond 56,100 if RBI outcome is favorable – potential swing move.

Stop Loss:

Ideal Stop Loss: Below support at 55,200.

Aggressive Stop Loss: Around S1 (55,466) for short-term traders.

🔄 Summary Strategy Component Level Entry (if bullish momentum continues) Around 55,750–55,800 Stop Loss 55,200 (safe) or 55,466 (aggressive) Target 1 55,923 Target 2 56,097 Swing Target (Post RBI) > 56,100 – watch for breakout momentum

📊 Risk Management Tip: Use trailing stop-loss above 55,600 once Bank Nifty crosses R1 to lock in gains.