BankNifty Support&Resistance levels for 12th April Friday

Banknifty support and and resistance levels.

Support:- 48800,48650,48500,48300
Resistance:-49050,49150,49350,49500

Trend is still bullish on macro and micro timeframes but market is overbought here, a retrace to support
areas expecting and then resumes uptrend if any of the supports held.


Note:-Mentioned Support and Resistance levels can act as reversal points also.

Comment:

1 hr Timeframe trendline support for reference.

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Testing the tredline resistance watch out rejection or breakout here

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trendline reject fell to next support area of 48600

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48800 below targt one acheived 48650 going for second target 48500 area.

Comment:

Trade closed: target reached: