it seems that the Bank Nifty is currently in a strong buy mode, with support levels at 41,500-41,400. The upside resistance is visible at 43,000 where the highest open interest is built up on the Call side, and once surpassed, there may be further short covering.
The pivot point calculator suggests that the Bank Nifty may take support at 42,614, followed by 42,552 and 42,451. Key resistance levels are expected to be 42,816, along with 42,878 and 42,979.
Based on this information, it is difficult to predict the exact next move of the Bank Nifty. However, if the index continues to make higher highs and higher lows and surpasses the upside resistance level of 43,000, it may see further short covering. On the other hand, if the index breaks below the support level of 41,500-41,400, it may indicate a bearish trend.
The pivot point calculator suggests that the Bank Nifty may take support at 42,614, followed by 42,552 and 42,451. Key resistance levels are expected to be 42,816, along with 42,878 and 42,979.
Based on this information, it is difficult to predict the exact next move of the Bank Nifty. However, if the index continues to make higher highs and higher lows and surpasses the upside resistance level of 43,000, it may see further short covering. On the other hand, if the index breaks below the support level of 41,500-41,400, it may indicate a bearish trend.