12-04-2025 | Weekly BNF, NF TA | Weekly Bullish Candle | Tariff Trade War Effect ? | Indian Market Update

BNF & NF 12-04-2025

Lets analyse Bank Nifty & Nifty price action after introduction of new tariff on imported goods by U.S ,which caued global market fall.

Bank Nifty Future:

Weekly TF:

• Last week we saw global market fall due to new tariff introduced by U.S.
• BNF formed a wide range bullish weekly candle and closed near previous week's close inspite of global sell off.
• After a pause in HH-HL formation last week which is inside week candle, this week BNF formed LH-LL formation.
• But BNF managed to close above previous swing high 50,800 and inside previous weeks's range.
• BNF faced resistance at fibo level of 52,060 and took support at fibo support level of 49420.
• Now we have RED AVWAP from ATH at 52,470 and TL resistance from ATH.
• BNF Resistance is at 52,180-380 and support is at 49,420.

Daily TF:

Indicators: RSI, MACD, VOL (as per order in chart)

• Last week Monday due to introduction of tarrif we opened with a huge gap.
• BNF tested fibo level of 49420 and closed higher as long legged doji candle.
• BNF managed to closed above 07042025 day's close for next two days (Tuesday & wednesday).
• By Friday BNF almost retraced back the entire fall and came back to the previous weeks range.
• In BNF, RSI turned higher and formed HH-HL and moved above 50.
• MACD which remained negative after gap has recovred and closed near 0 mark.
• For next week, BNF has resistance around 51,380 & support at 50,650-850.

Nifty Future:

Weekly TF:

• Last week NF broke HH-HL formation and this week we continued LH-LL and tested previous swing low.
• But Weekly candle was strong rejection bullish candle from previous swing low.
• NF faced resistance from RED AVWAP and previous swing high (horizontal line) at 23850.
• From recent swing high 23890 fall, NF has retraced 50% by this week close.
• NF bounced last week from support GREEN zone and also from AVWAP from 2023 March.
• NF has resistance at 23,900 and support at 21,900.

Daily TF:

Indicators: RSI, MACD, VOL (as per order in chart)

• Despite BNF holding higher, NF testing previous swing low (22,100) and bounced higher.
• NF opened lower after tariff announcement much lower than BNF, but closed higher forming hammer candle on monday.
• 22920 is Fibo support and also support marked by GREEN AVWAP.
• RSI formed swing low and formed HH-HL and closed near 50.
• MACD which was negative on monday was recovering, but still negative below zero.
• Both RSI +ve & MACD -ve shows indecision, after sharp recovery which faced resistance from RED AVWAP at 23000 we need to see next week price movment for further clue.

Acronym:

BNF: Bank Nifty Future.

NF: Nifty Future.

BO: Breakout.

BD: Breakdown.

HH-HL: Higher High, Higher Low

LH-LL: Lower High, Lower Low

TF: Time Frame.

LT: Long Term

ST: Short Term

ATH: All Time High.

PA: Price Action.

PDC: Previous Day Close

TL: Trend Line.

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