Banknifty analysis for 21 march 2025

 Bank Nifty Analysis for Tomorrow – March 21, 2025


As we approach the next trading session, let's analyze the Bank Nifty chart and key indicators to predict potential market movements.


Current Market Overview


Bank Nifty Last Price: 49,993.80 (Flat at market close)


Nifty 50: 23,190.65 (+1.24%)


ADX Indicator: 47.28 (Indicating strong trend strength)


EMA Cross (9, 26): Bullish crossover confirming an uptrend




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Technical Analysis


Support and Resistance Levels


Support Zone: Around 48,257-48,413, acting as a strong demand area.


Resistance Zone: The index is near 50,000, which is a crucial psychological resistance. A breakout above could trigger further buying.



Trend and Indicators


1. Moving Averages


The EMA (9, 26) crossover is bullish, indicating a continuation of the uptrend.


The price is trading above key support levels, suggesting bullish sentiment.



2. ADX (Average Directional Index) – 47.28


ADX above 40 signals a strong trend, meaning momentum is favoring the bulls.



3. Price Action Analysis


Bank Nifty has shown strong buying momentum, rallying from lower levels.


A consolidation near 49,900-50,000 could result in a breakout towards 50,500-51,000.




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Trading Strategy for Tomorrow


Bullish View (If Bank Nifty Breaks 50,000)


Entry: Buy above 50,100


Target 1: 50,500


Target 2: 51,000


Stop Loss: 49,700



Bearish View (If Bank Nifty Fails at 50,000)


Entry: Sell below 49,700


Target 1: 49,400


Target 2: 48,800


Stop Loss: 50,100




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Conclusion


Bullish Bias: Bank Nifty remains strong, but 50,000 is a crucial resistance.


Breakout Watch: If it sustains above 50,100, we may see a rally toward 51,000.


Reversal Risk: Failure at 50,000 could trigger a pullback to 49,400.



Traders should watch price action near 50,000 and follow risk management strategies to navigate the volatility.


Happy Trading!


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