BANK NIFTY – TECHNICAL REPORT
Based on Market Closing as on Thursday September 27,2018

Short term trend: Sideways:

Date: 27/09/2018

 The last trading day the index closed at 25376.30 point level with a positive bias. Technically, the momentum indicator, signals downward bias and the index remains below the short term simple moving averages 5, 15 and 25 days. Nearest resistance for the index is at the 25650 point level. As long as the index remains below this level, the current down trend will continue in the coming days also. The lower side index has support at the 25000 point level. 

Support – Resistance levels 

The Support levels 25000 -24500 Resistance levels –25650 -26220. (Based on the daily chart). 

Bank nifty Intraday support levels 25200-25000-24800 Resistance levels -25400 -25660 -25840.

 

Technical view BANK NIFTY:

Date: 26/09/2018

 Short term trend:  Sideways

 The last trading day the index closed at 25330.30 point level with a positive bias. Technically, the momentum indicator, signals downward bias and the index remains below the short term simple moving averages 5, 15 and 25 days. However the index formed a long white candle on the daily chart and it closed above the previous resistance level 25000. If the index trade and sustain above the previous day’s high 25406, the current pull back rally may continue today also.

 Support – Resistance levels 

The Support levels 25000 -24500 Resistance levels –25650 -26220. (Based on the daily chart). 

Bank nifty Intraday support levels 25200-25000-24800 Resistance levels -25400 -25660 -25840.

Technical Report:

Date: 29/09/2017

 Short term trend - Downward  bias. If the index hold the support level 23785 a pullback rally can expect in coming days.
Supports -23785 - 23150  Resistance - 24500 - 25000  (Analysis based on daily chart)

Technical Report:

Date: 22/09/2017

 Short term trend - Downward  bias
Supports -24100 - 23785  Resistance - 24500 - 25000  (Analysis based on daily chart)