Bank Nifty - Hourly chart -nearing its key supply zone- 05.12.24

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Bank Nifty - Hourly chart - 05.12.24

1. Bank Nifty is nearing its key supply zone
2. This supply zone has to sustain for making new lifetime high
3. If not, we might be heading towards swing low
4. Coming Friday is RBI policy announcement. So, we have to wait and see how technical analysis works from here.

Thank you.

Regards
Bull Man

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Bank Nifty update

In the morning, downside movement started from our R1 zone and exactly stopped at S1 level and went on to reach R2 zone. From there, it stopped its upside movement.

so, all the levels respected properly today!!!