Bank Nifty Analysis (1 Hour Timeframe)

Bank Nifty Analysis (1 Hour Timeframe):

Current Scenario:

Price is consolidating within a rising channel, moving steadily towards the gap zone between 52,012.45 and 53,209.10. The gap acts as a major resistance area, and it will be crucial to see if the price manages to close above this level. Volume is relatively stable, but no significant spike indicates a major breakout or breakdown at this point.

Possible Outcomes:

1. Bullish Scenario:
Agar price channel ke upper boundary ko break karta hai aur 52,012.45 ke upar sustain karta hai, toh next move upar ke taraf ho sakta hai towards the gap fill at 53,209.10.

Entry: Long entry around 51,945.40, SL 51,669.25 ke neeche.
Target: Pehla target 52,800, and dusra target 53,200+ ho sakta hai.

2. Bearish Scenario:
Agar price channel ke neeche break karta hai aur 51,669.25 ke neeche sustain karta hai, toh ek short opportunity ban sakti hai.

Entry: Short below 51,669.25, SL 51,900 ke upar.
Target: Pehla target 51,200, aur dusra target 50,800.

Key Observation:
Gap fill zone ke aas-paas strong resistance face kar sakte hain, to aggressive long entry ka confirmation tabhi milega jab price 52,012.45 ke upar ek clean breakout kare. Pichle trading session me 51,500 ki entry diya tha, aur uske baad price ne consolidation ke baad upar ki taraf move kiya. Ye level strong support ke taur pe kaam karta hai.

Final Note:
Price rising channel ke andar hai, lekin agle move ka direction largely 52,012.45 ke breakout ya rejection pe depend karega. Safe entry tab hogi jab price is level ke upar sustain karega for longs.

Never judge my risk and analysis.