Hi,
The Bank Nifty opened a gap up of +333 paints and closed -112 points with a volatile of 747 points.
The last 4 sessions closed happened below everyday low. So, the bear trend market is likely to continue. Today’s swing was around 1300 points.
If the Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s trades.
Resistance:
R3-38560, R2-38216 & R1-38000
Pivot & CPR:
37823, BC 37735 & TC 37910
Support:
S1-37646, S2-37395 & S3-37076
If Bank Nifty is sustained above 37900 the bull run will take place and moves upwards further ready to retrace the level of 38000, 38200 then 38550.
If Bank Nifty is sustained below 37550, the bear run will continue and be ready to retrace the level of 37400 & 37000
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.
The Bank Nifty opened a gap up of +333 paints and closed -112 points with a volatile of 747 points.
The last 4 sessions closed happened below everyday low. So, the bear trend market is likely to continue. Today’s swing was around 1300 points.
If the Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s trades.
Resistance:
R3-38560, R2-38216 & R1-38000
Pivot & CPR:
37823, BC 37735 & TC 37910
Support:
S1-37646, S2-37395 & S3-37076
If Bank Nifty is sustained above 37900 the bull run will take place and moves upwards further ready to retrace the level of 38000, 38200 then 38550.
If Bank Nifty is sustained below 37550, the bear run will continue and be ready to retrace the level of 37400 & 37000
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.