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-down of -272.95 points and closed at +151.70 points volatility seems to be 658.85 points. Formed a Bullish with an upper shadow candle in the daily chart.
opened above at S3 Level 40874 which was near today’s low of 55 points (40819). From there, it recovered 659 points which were today’s high of 41478, but was not sustained above this level and again fell 236 points. Again, a small recovery of 191 points, then again fell 184 points, then again recovered 48 points closing at 41298.
Today’s total movements were around 1374 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 (04-11-22) trades.
Resistance: R3-41857, R2-41575 & R1-41354.
Pivot & CPR:P- 41199, BC 41148, TC 41248.
Support: S1-41130, S2-41009 & S3-40813.
If Bank Nifty is sustained above 41475 the bull run will take place and moves upwards further ready to retrace the level of 41575, 41850 & 42000 above.
If Bank Nifty is sustained below 41150, 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-down of -272.95 points and closed at +151.70 points volatility seems to be 658.85 points. Formed a Bullish with an upper shadow candle in the daily chart.
opened above at S3 Level 40874 which was near today’s low of 55 points (40819). From there, it recovered 659 points which were today’s high of 41478, but was not sustained above this level and again fell 236 points. Again, a small recovery of 191 points, then again fell 184 points, then again recovered 48 points closing at 41298.
Today’s total movements were around 1374 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 (04-11-22) trades.
Resistance: R3-41857, R2-41575 & R1-41354.
Pivot & CPR:P- 41199, BC 41148, TC 41248.
Support: S1-41130, S2-41009 & S3-40813.
If Bank Nifty is sustained above 41475 the bull run will take place and moves upwards further ready to retrace the level of 41575, 41850 & 42000 above.
If Bank Nifty is sustained below 41150, 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.