BNF downside Consolidation
The BNF (Bank Nifty) is currently forming a symmetrical downside trendline with consolidation. This pattern suggests that the index is experiencing a period of indecision, with the potential for a downward movement. However, a crucial level to watch out for is at 45904. If the BNF breaks below this level and sustains its position below it, it is likely to trigger sharp selling in the market. Traders and investors should closely monitor this level as it could indicate a significant shift in market sentiment for the BNF.
Based on the given description, if the BNF (Bank Nifty Futures) breaks below the level of 45904 tomorrow, it is likely to immediately decline to the support level of 45700. The major support level is identified at 45480. On the upside, the immediate resistance levels are expected to be at 46070 and 46200. The daily candle indicates a negative sentiment prevailing in the market.
Based on the given description, if the BNF (Bank Nifty Futures) breaks below the level of 45904 tomorrow, it is likely to immediately decline to the support level of 45700. The major support level is identified at 45480. On the upside, the immediate resistance levels are expected to be at 46070 and 46200. The daily candle indicates a negative sentiment prevailing in the market.
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