📊 BANKNIFTY – Daily Chart Technical View CMP: ~61,172
🔎 Chart Observation: Price trading near major resistance zone 61,500–61,600
Immediate support at 60,500
Strong support at 57,600
RSI ~59 → Bullish but not overbought
MACD positive crossover with strong histogram → Uptrend momentum intact
Overall Bias: Bullish above 60,500
🔵 SCENARIO 1: BUY ON BREAKOUT ✅ Entry: 61,600 (Daily close above resistance) 🎯 Target 1: 62,200 🎯 Target 2: 63,000 🛑 Stop Loss: 60,900 📈 Probability: Target 1: 68%
Target 2: 55%
Logic: Resistance breakout + strong MACD + RSI above 55 supports bullish continuation.
🔵 SCENARIO 2: BUY ON DIP ✅ Entry: 60,500–60,600 (Support zone) 🎯 Target: 61,500 🛑 Stop Loss: 59,900 📈 Probability: 65%
Logic: Trend is upward; pullback to support offers better risk-reward.
🔴 SCENARIO 3: SELL BELOW BREAKDOWN ✅ Entry: 60,400 (Breakdown below support) 🎯 Target 1: 59,500 🎯 Target 2: 57,600 🛑 Stop Loss: 61,000 📉 Probability: Target 1: 58%
Target 2: 45%
Logic: Breakdown may trigger short covering unwinding and correction toward major support.
📌 Summary Above 60,500 → Bullish
Below 60,400 → Short-term bearish
Major trend remains positive unless 59,500 decisively breaks.
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