Hi,
Let us look into the previous session’s market movement and expectations moment from current levels to either side sustained above or below current levels.
CURRENT LEVELS: The Bank Nifty opened with a gap-up of +183.05 points and closed at -142.90 points volatility seems to be 414 points. Formed a bearish candle in the daily chart.
The illustration of the 15-minute chart opened today’s high at 41472 above the Pivot level and went down 234 points to the S1 level. From there, it recovered 225 points from but was not sustained above this level and again fell 211 points. Again, a small recovery of 93 points, then again fell 288 points today’s low of 41060, then again recovered 115 points then, again fell finally closed at 41147.
Today’s total movements were around 1167 points.
ONE-DAY LEVELS: The Fib retracement levels are drawn for the Daily chart the support and resistance levels are as follows for tomorrow’s (03-11-22) trades.
Resistance
R3-41641, R2-41464 & R1-41325.
Pivot & CPR:
P- 41227, BC 41186, TC 41267.
Support:
S1-41130, S2-41009 & S3-40813.
If Bank Nifty is sustained above 41270 the bull run will take place and moves upwards further ready to retrace the level of 41325, 41465 & 41640.
If Bank Nifty is sustained below 41060, the bear run will continue and be ready to retrace the level of 41000 & 40800.
So, we must be very careful to watch the above levels and do successful trade.
Disclaimer: Not SEBI registered advisers. It is my analysis of my experience. You may consult with your financial adviser for your action.
Let us look into the previous session’s market movement and expectations moment from current levels to either side sustained above or below current levels.
CURRENT LEVELS: The Bank Nifty opened with a gap-up of +183.05 points and closed at -142.90 points volatility seems to be 414 points. Formed a bearish candle in the daily chart.
The illustration of the 15-minute chart opened today’s high at 41472 above the Pivot level and went down 234 points to the S1 level. From there, it recovered 225 points from but was not sustained above this level and again fell 211 points. Again, a small recovery of 93 points, then again fell 288 points today’s low of 41060, then again recovered 115 points then, again fell finally closed at 41147.
Today’s total movements were around 1167 points.
ONE-DAY LEVELS: The Fib retracement levels are drawn for the Daily chart the support and resistance levels are as follows for tomorrow’s (03-11-22) trades.
Resistance
R3-41641, R2-41464 & R1-41325.
Pivot & CPR:
P- 41227, BC 41186, TC 41267.
Support:
S1-41130, S2-41009 & S3-40813.
If Bank Nifty is sustained above 41270 the bull run will take place and moves upwards further ready to retrace the level of 41325, 41465 & 41640.
If Bank Nifty is sustained below 41060, the bear run will continue and be ready to retrace the level of 41000 & 40800.
So, we must be very careful to watch the above levels and do successful trade.
Disclaimer: Not SEBI registered advisers. It is my analysis of my experience. You may consult with your financial adviser for your action.