For the monthly analysis of the BNF it is showing strength for the upside movement and if it is continue to move like this with volume then it will try to find its previous high’s 32600, where it will face resistance so it is not good for the sellers, so sellers please be cautious otherwise if it starts moving downward direction it will take support at 25375 i.e. 50MA if it also breaks then it will take its extreme support at 20100 i.e. 100 MA.

According to the weekly charts BNF is on bullish side as the price is above all the Moving averages. As it looks it will achive 31000 level where it will face resistance and for the downside it will take support at 26760 which is its 100MA & then it will take support at 25700 i.e. 200MA.

For the daily charts BNF is on bullish mode after continuous investment by FIIs so if it remains in the bullish mode then it will touch 29200 level where it will face resistance but if it looses its strength then we can see a big downfall and take immediate support at 25750 i.e. 20MA then 23750 i.e. 50MA.

I hope this analysis will help you for for the upcoming trading days and for the week. These are not buy/sell calls it is only for the educational purposes. Please trade according to your analysis.

Thank you

Analysis by
Akshay Singh

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