Bank Nifty Weekly support and resistance levels

Bank Nifty Future Weekly  trading levels
Trading as per the support and resistance levels may be quite useful for intraday trading in stocks and index. Resistance is termed as the level where the stock generally gets some opposite force before it can go further up. A support is the level where a stock get buying interest before it can fall further. Under the normal market conditions or in the absence of some extremely panic news the support and the resistance levels can act as good levels for initiating the buying / selling. In general it’s advisable to buy the stocks at support levels and sell at the resistance levels. In Intraday trading there are few support and resistance levels known as Support1 Support2, Resistance1 Resistance2 etc.

The support and the resistance levels for Bank Nifty can be seen in the table below.
Bank Nifty Levels in simple format can be seen as follow

Pivot Level = 10609
Support1 = 10436	Resistance1 = 10910
Support2 = 10135	Resistance2 = 11083
Support3 = 9962	Resistance3 = 11384

the basic formula’s used for calculating the support and resistance is:-

Pivot point (P) = (H + L + C) / 3

First resistance level (R1) = (2 * P) – L

First support level (S1) = (2 * P) – H

Second resistance level (R2) = P + (R1 – S1)

Second support level (S2) = P – (R1 – S1)

These levels are updated by NiftyLiveCharts.com Team