Postmortem on Bank Nifty - 06 JUL 2022

Switching to 5minute candle for easier representation. BN opened at 33929 and hit the resistance at 34122 in the 2nd candle. A quick rejection didnt sustain and BN broke the resistance conclusively at 10.45

From 11.30 to 12.10, the 34122 acted as support and prevented BN falling further.


At 13.10 BN hit the resistance of 34369 and was rejected. It almost fell all the way to the support and bounced back. The final closing was at the resistance level


Support and resistance points

s1: 34122, s2: 35666

r1: 34369, r2: 34740

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