Stock Market, can Banknifty give a break to its All-Time High level?
Banknifty All time high is around 41,840, but it currently seems to be struggling very hard around its 41600 level.
41600 – 41800 seems to be a very critical level for the Banknifty as we have seen high trading volatility around this same level in the past couple of trading sessions.
In Stock Market, we can see currently that the Nifty50 still looks strong and managing but Banknifty is moving in a highly volatile.
A few important stocks for Banknifty can see below, their current price compared with their all-time high price.
Banknifty Stocks Price Performance.
|Stock Name||Last Trading Price||52W High||Points Down From 52W High|
Banknifty Price Performance.
As mentioned above, for Banknifty the price levels between 41600 – 41800 seem to be a very critical level as we saw high trading volatility around this same level in the past couple of trading sessions.
If we look at the Banknifty chat above, the all-time high made in November 2021, it is now the year that the Banknifty came to the same level again.
Since Banknifty started down in November 2021 and from its all-time high. In 2022 within 4 months the Banknifty back to its all-time high level from a low point of around 32300 made in June 2022.
From October 2022, the Banknifty is moving up sideways. But currently consolidating between 40800 to 41650, see below.
The Banknifty may continue to perform sideways or between consolidation levels.
In the above first chart, we can see Banknity has created 3 Top (Triple Top) which is one of the bearish signs.
But if Banknifty gives a breakout to the 41900 level then possible to go up more.
It may also be possible that Banknifty gives a breakout to the 41900 looks bullish and revert back down.
Hence, currently trading in Banknifty the above points needs to be taken into consideration.
The author’s views are just for informational purposes only, and they don’t represent advice on finances, investments, or anything else.
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