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-up of +244.5 points and closed at -18.35 points volatility seems to be 488.70 points. Formed a bearish candle in the daily chart.
The illustration of the 15-minute chart opened at 41552 above the R3 level and went down 159 points to the R2 level. From there, it recovered 284 points from today’s high of 41677, but was not sustained above this level and again fell 461 points. Again, a small recovered 182 points, then again fell 210 points today’s low 41189, then again recovered 144 points then, again fell finally closed at 41289.
Today’s total movements were around 1440 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 (02-11-22) trades.
Resistance
R3-41874, R2-41665 & R1-41500.
Pivot & CPR:
P- 41385, BC 41337, TC 41433
Support:
S1-41270, S2-41127 & S3-40896
If Bank Nifty is sustained above 41440 the bull run will take place and moves upwards further ready to retrace the level of 41660 & 41875
If Bank Nifty is sustained below 41200, the bear run will continue and be ready to retrace the level of 41130 & 40900
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-up of +244.5 points and closed at -18.35 points volatility seems to be 488.70 points. Formed a bearish candle in the daily chart.
The illustration of the 15-minute chart opened at 41552 above the R3 level and went down 159 points to the R2 level. From there, it recovered 284 points from today’s high of 41677, but was not sustained above this level and again fell 461 points. Again, a small recovered 182 points, then again fell 210 points today’s low 41189, then again recovered 144 points then, again fell finally closed at 41289.
Today’s total movements were around 1440 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 (02-11-22) trades.
Resistance
R3-41874, R2-41665 & R1-41500.
Pivot & CPR:
P- 41385, BC 41337, TC 41433
Support:
S1-41270, S2-41127 & S3-40896
If Bank Nifty is sustained above 41440 the bull run will take place and moves upwards further ready to retrace the level of 41660 & 41875
If Bank Nifty is sustained below 41200, the bear run will continue and be ready to retrace the level of 41130 & 40900
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.