Bank Nifty breaks key Resistance

In Technicals, what once was Support turns Resistance and vice versa. On analysing charts we see this works out beautifully.

See the chart of Bank Nifty below:

The blue horizontal line which is around 25100-25200 levels has been Resistance in the past in August and September 2017. Once broken it turned Support for the upmove in November 2017 and October 2018. Then it was broken convincingly in the March 2020 collapse.

In August 2020 this same level acted as Resistance. Last week it was taken out and Bank Nifty has been zooming from that time. It is quite possible we come and retest this level before moving further higher. Let us track this level.

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