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Will bull Ride is being raged by bears tomorrow in Bank Nifty?

NSE:BANKNIFTY   Nifty Bank Index
Hi guys, this Thenali view, today we are going to discuss
about the bank nifty for 03-Feb-2021.

Bank Nifty has opened at 33589.05 and touched the day low of
33583.15 and then it was bounced to All time high of 34652.50.

After the high volatility the index has fallen to 33750 and closes at 34267.90.

Let See the S & R on Monthly Weekly Daily & 1hr time Frame:

Monthly: 30385.70 , 23907.15 & 19066.65

Weekly: 30368.75 & 26968.05

Daily: 32591.90, 29927.80 & 26789.25

Finally 1hr: 32621.75 & 31776.35

Will is the trade set tomorrow?

CPR : 34117.85 & 34217.90
Pivot: 34167.85

Pivot : Support and Resistance:

R1 34,752.55 S1 33,683.20
R2 35,237.20 S2 33,098.50
R3 36,306.55 S3 32,029.15

CPR will be Bearish Bias.

Yesterday Today CPR will be Virgin CPR and it will extended
tomorrow.

Overview:

Case 1: If the Script goes pass the below the CPR go for Short.

Target - 33600 & 32800

or

Case 2: If the Script goes above the today High (All time High) then go for Long.

Target - 35000 & 35300.

Impression: Bearish in Bank Nifty

Disclaimer: Kindly do your own analysis before executing this trade. I am not a SEBI Registered Analyst.

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