Key levels for Nifty Bank
๐Resistance levels based on pivot points: 49,843, 50,669 and 51,062
Support based on pivot points: 49,639, 49,395 and 49,002
Resistance based on Fibonacci retracements: 50,525, 51,073
Support levels based on Fibonacci Retracement: 49,719, 48,863
Special Pattern : Nifty Bank also recorded a large bearish candlestick pattern on the daily charts with negative bias in momentum indicator but successfully defended the 50% Fibonacci retracement level (49,719 derived from 4 June low and 5 July all time high) at the close of another trading session.
