Bank Nifty (1 hr chart)

Date 15.06.2024
Bank nifty (1 hr) chart - spot

From the last ten days bank nifty is consolidating in the range of 588 points approximately & mentioned support/resistance levels becomes very important to trade in the direction of breakout or breakdown.

Support trendline in confluence with 1 hr + 200 ema also becomes significant support or testing point in case of any gap downs or selling. Any significant closing below support trendline & 200 ema along with mentioned support & resistance levels might change the trend or become trending market.

Therefore at least observe 5 mins or 15 mins closing candle with respect to hourly chart for taking any trade

Regards,
Ankur Singh