Hi,
Let us review the post-market report dated 30-09-22.
I said, the Support and resistance for Monthly & Weekly Charts.
Monthly Chart.
Resistance: R3-43739.95, R2-41834 & R1-40337
Pivot: P- 39286
Support: S1-38235, S2-36935 & S3-34832
Weekly Chart.
Resistance:R3-40258.95, R2-39470 & R1-38851
Pivot: P- 38416
Support:S1-37981, S2-37443 & S3-36573
Current closing point 39178. BN has crossed but closed below the Pivot point in the monthly time frame and 78.6 % weekly time frame. The Fib 61.8% resistance point is 40300 in the Monthly time frame, this point must be a very crucial resistance point. If the Market sustained above this resistance point of 40300, we may expect the bull rally to continue at 41800, then 43700 until the BN may trade range between 37000 to 41800.
Now we will look into the current short and near-term moments.
The Bank Nifty opened the gap down -189 points and closed -105 points with a volatile of 427 points. Formed a Hammer candle in the daily chart.
Illustrate the 15-minute chart, opened 39094 and went down the S3 level 38828, from there took to support and continue to upward moment till 39057, then again down below S3 level 38808 again it took support from there start moving up 428 points and close 39178 above S2 level
Today’s swing was around 1100 points.
The Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s (10-10-22) trades.
Resistance: R3-39501, R2-39318 & R1-39175
Pivot & CPR: P- 39074, BC 39021, TC 39126
Support: S1-38973, S2-38849 & S3-3846
If Bank Nifty is sustained above 39250 the bull run will take place and moves upwards further ready to retrace the level of 39320, then39500
If Bank Nifty is sustained below 39000, the bear run will continue and be ready to retrace the level of 38850, then 38650
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 review the post-market report dated 30-09-22.
I said, the Support and resistance for Monthly & Weekly Charts.
Monthly Chart.
Resistance: R3-43739.95, R2-41834 & R1-40337
Pivot: P- 39286
Support: S1-38235, S2-36935 & S3-34832
Weekly Chart.
Resistance:R3-40258.95, R2-39470 & R1-38851
Pivot: P- 38416
Support:S1-37981, S2-37443 & S3-36573
Current closing point 39178. BN has crossed but closed below the Pivot point in the monthly time frame and 78.6 % weekly time frame. The Fib 61.8% resistance point is 40300 in the Monthly time frame, this point must be a very crucial resistance point. If the Market sustained above this resistance point of 40300, we may expect the bull rally to continue at 41800, then 43700 until the BN may trade range between 37000 to 41800.
Now we will look into the current short and near-term moments.
The Bank Nifty opened the gap down -189 points and closed -105 points with a volatile of 427 points. Formed a Hammer candle in the daily chart.
Illustrate the 15-minute chart, opened 39094 and went down the S3 level 38828, from there took to support and continue to upward moment till 39057, then again down below S3 level 38808 again it took support from there start moving up 428 points and close 39178 above S2 level
Today’s swing was around 1100 points.
The Fib retracement levels are drawn for the Daily chart, the support and resistance levels are as follows for tomorrow’s (10-10-22) trades.
Resistance: R3-39501, R2-39318 & R1-39175
Pivot & CPR: P- 39074, BC 39021, TC 39126
Support: S1-38973, S2-38849 & S3-3846
If Bank Nifty is sustained above 39250 the bull run will take place and moves upwards further ready to retrace the level of 39320, then39500
If Bank Nifty is sustained below 39000, the bear run will continue and be ready to retrace the level of 38850, then 38650
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.