Today banknifty gap up opening and didn't sustain, 2 intraday supports (42900 & 42500) broken. Took support at hourly TF trendline(42300) and move upside by breaking Resistance at (42500) with Bullish Engulfing candle.
Tomorrow's View Only:
1) If it sustain above support1(42520 to 42570) by closing 15 mins green candle, it will go Resistance/Target1 (42820 to 42860).
2) If it sustain above Resistance 1 we can see Resistance2/Target2 around 43000.
Note:- for up-move it should close #Bullish candle above resistance and expecting Falling Wedge breakout.
Tomorrow's View Only:
1) If it sustain above support1(42520 to 42570) by closing 15 mins green candle, it will go Resistance/Target1 (42820 to 42860).
2) If it sustain above Resistance 1 we can see Resistance2/Target2 around 43000.
Note:- for up-move it should close #Bullish candle above resistance and expecting Falling Wedge breakout.
1) Banknifty didn't sustain above support level and the first 15 mins candle is rejection of uptrend. Fall down by breaking Support 1 & 2 level and took support at 1 hour TF 41900 level.