Hi Guys,
Looking at the current scenario, the situation doesn't look good bank nifty can easily slip at 23500-23800 levels from here which is pretty much likely and if doesn't stop there it is going to slip to 20000-20500 levels where it has a strong support level. On the upside it has a huge resistance around 26000-26200 level, so to move upside it has to break that level which will open the door for the upside trades.
Looking at the recent weekly candle, which is quite bearish it can easily fall around the 23500-23800 where it has some support.
Looking at the current scenario, the situation doesn't look good bank nifty can easily slip at 23500-23800 levels from here which is pretty much likely and if doesn't stop there it is going to slip to 20000-20500 levels where it has a strong support level. On the upside it has a huge resistance around 26000-26200 level, so to move upside it has to break that level which will open the door for the upside trades.
Looking at the recent weekly candle, which is quite bearish it can easily fall around the 23500-23800 where it has some support.