BankNifty showed good upside momentums in first session of 15th Sep and took resistance at ~46278.00 level then sellers dragged the market down and market could not break the level of ~46030.00 which used to be acting as a good level in 14th Sep session as well.
In second session again we got to see some upside momentum and market again could not break the ~46278.00 level and market eventually closed near the opening price.
We have 3 important levels for Monday
Level 1 - 46278.10
Level 2 - 46154.05
Level 3 - 46030.10
In Monday session,
if price breaks down level 3 we can go short and our target would be ~45842.80 level
if price breaks out level 1 then or opens gap-up our first target would be all time high and onwards.
But still the all time high level can act as a resistance level.
All the studies are made on 15 min and 5 min candlesticks
Act Wisely. Happy Trading :)
In second session again we got to see some upside momentum and market again could not break the ~46278.00 level and market eventually closed near the opening price.
We have 3 important levels for Monday
Level 1 - 46278.10
Level 2 - 46154.05
Level 3 - 46030.10
In Monday session,
if price breaks down level 3 we can go short and our target would be ~45842.80 level
if price breaks out level 1 then or opens gap-up our first target would be all time high and onwards.
But still the all time high level can act as a resistance level.
All the studies are made on 15 min and 5 min candlesticks
Act Wisely. Happy Trading :)