Bank Nifty Trend Today Technical Analysis for 16-01-2020 13:00:03

In 1 hour chart Bank Nifty price continues to trade at 31633.2 and below the (Exponential Moving Average)EMA200 value of 31871.5 and keeps its stability below until now, while 1 hour MACD Of 12,26,9 is in Sell mode. Therefore, we will keep our Sell overview conditioned by the price stability below

However, if Bank Nifty continues to trade below level, that could be an extraordinarily Bearish sign for Bank Nifty

Even so, the 200-candle Exponential moving average (EMA) price range of 31871.5 is proving a tough nut to crack.

Pivot (invalidation): 32229.2

Our preference: Long positions above 32397.2

Alternative scenario: Below 32009.4 look for further downside.

Support Resistance Levels For Bank Nifty Today at 16-01-2020 13:00:03

Pivot: 32229.2

Resistance 1: 32397.2

Resistance 2: 32617

Resistance 3: 32785

Support 1: 32009.4

Support 2: 31841.4

Support 3: 31621.6

Yesterday High Low Close For Bank Nifty

Yesterday High: 32448.9

Yesterday Low: 32061.2

Yesterday Close: 32177.4

Today at 16-01-2020 13:00:03 Bank Nifty trading at 31633.2 with high of 31980.9 and low of 31587.3

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