Postmortem on Bank Nifty - 19 JUL 2022

BN opened right at the support area 35113 and indicated a bullish momentum in the first 10 minutes itself. Frankly i did not expect this momentum to sustain - but BN continued to cross the resistance of 35510 and closed near the next resistance of 35730.

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BN spent considerable amount of time near the resistance line of 35510, ie from 10.45 to 14.15. It also took away the last swing high.


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Whereas on the 1hr chart, the longer term trend has not shown a reversal.

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Important Support & Resistance areas

s1: 35510, s2: 34534

r1: 36165, r2: 36548



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