Took support near 18800 and made highs near 19495 yesterday, As per daily charts, fresh upside can be seen only on sustaining above 19515 while on failing Nifty can retest its supports around 19325-300 and 19215-180 in coming days. Have a look at daily chart.
However, As per weekly charts. Nifty is already looking good for fresh highs with minor resistance near 20100, what we need it to confirm is a weekly close above 19450 and failure can open ways for retest of support near 18950 and 18375. Have a look at weekly chart.
From the lows of 42100, banknifty recovered sharply and has reached to near 44000 where it breached the neckline support of head and shoulder pattern made recently on daily chart. Now this 44000 is working as major resistance and for any big move we need to cross and sustain above it. As per daily chart, support exists around 43550-500 and breaching can open ways for 43000-42500 and below. Above 44000, 44650-950 will be next hurdle.
As per weekly charts support exists at 43700 and resistance is at 44300.
