BANKNIFTY Index has resistance near 57000 – 57100 range and if index crosses and sustains above this level then may reach near 57500– 57600 range.
Banknifty has immediate support near 56200 - 56100 range and if this support is broken then index may tank near 55700 - 55600 range.
A gap-down opening is expected following the imposition of an additional 100% tariff by the US on Chinese imports effective November 1st. However, buying interest may emerge at lower levels as signals indicate possible finalisation of the India-US trade deal in the coming weeks.
Trade closed: target reached
Gap down opening with low near 56325 and then bounced to make high near 56770 with close near 56625.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
Request for follow on X @rkmaurya_ra
Survey: Help us shape better advisory & learning services forms.gle/KdZGVk727dX4Ummc6
Request for follow on X @rkmaurya_ra
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.