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 Nifty50 opened with a gap-up of +274.85 points and closed at +317.05 points volatility seems to be 247.60 points. Formed hammer candle in the daily chart.
Illustration of the 15-minute chart, which opened at 41266 and went up 88 points to today’s high crossed R1 level 41354, then not sustained above this level and fell 248 points today’s low 41106, from there recover 196 points, then again fell 161 points, then again recover 200 points then, again fell 57 points finally closed at 41308.
Today’s total movements were around 950 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 (01-11-22) trades.
Resistance
R3-41504, R2-41398 & R1-41314
Pivot & CPR:
P- 41256, BC 41282, TC 41230
Support:
S1-41198, S2-41125 & S3-41008
If Bank Nifty is sustained above 41350 the bull run will take place and moves upwards further ready to retrace the level of 41400,41500 &41650
If Bank Nifty is sustained below 41230, the bear run will continue and be ready to retrace the level of 41125 & 41000.
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 Nifty50 opened with a gap-up of +274.85 points and closed at +317.05 points volatility seems to be 247.60 points. Formed hammer candle in the daily chart.
Illustration of the 15-minute chart, which opened at 41266 and went up 88 points to today’s high crossed R1 level 41354, then not sustained above this level and fell 248 points today’s low 41106, from there recover 196 points, then again fell 161 points, then again recover 200 points then, again fell 57 points finally closed at 41308.
Today’s total movements were around 950 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 (01-11-22) trades.
Resistance
R3-41504, R2-41398 & R1-41314
Pivot & CPR:
P- 41256, BC 41282, TC 41230
Support:
S1-41198, S2-41125 & S3-41008
If Bank Nifty is sustained above 41350 the bull run will take place and moves upwards further ready to retrace the level of 41400,41500 &41650
If Bank Nifty is sustained below 41230, the bear run will continue and be ready to retrace the level of 41125 & 41000.
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.