Banknifty Short Term View - 31st March 21 Reversal again ?
On 25th March we saw Banknifty futures bouncing on the back on a support confluence which was a previous high made in the month on Jan 2021, a hammer candle on 25th March was a clear sign on market respecting the support.
Although in the hourly chart 33700 to 34350 remains an important resistance band for price. Banknifty futures will have to surpass & sustain this zone for a larger up move. RSI has shown a trend line breakdown in the hourly charts.
33350 remains an important support for banknifty futures in the short term if this level is taken off on the downside than lower levels could be tested.
Trade Well !
Although in the hourly chart 33700 to 34350 remains an important resistance band for price. Banknifty futures will have to surpass & sustain this zone for a larger up move. RSI has shown a trend line breakdown in the hourly charts.
33350 remains an important support for banknifty futures in the short term if this level is taken off on the downside than lower levels could be tested.
Trade Well !
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