Technical Analysis (Keep it Simple # Charts)

The index is trading near to demand zone as seen from the chart. The zone is holding as support in every correction in the index. 14100-14300 is the demand zone for the index. If the index manages to hold the support zone then it can bounce to the levels of around 15100-15300 where downward sloping trendline is lying. For educational purpose. @jagrut

The index has taken support around the trendline connecting lows of Sept-2020 and Jan-2021. If the support level holds, Banknifty can move towards the downward sloping trendline around the levels of 35800-36000. For educational purpose. @jagrut

The index is approaching the channel resistance around the levels of 127-128. For educational purpose