Support levels:
44,120
43,995
43,770
Resistance levels:
44,532
44,713
Analysis:
Bank Nifty is currently in an uptrend, with immediate support at 44,120. If this level breaks, then the next support levels are at 43,995 and 43,770. On the upside, the immediate resistance is at 44,532. If this level is crossed, then the next resistance is at 44,713.
Trading strategy:
Upside: If Bank Nifty sustains above 44,532, then traders can go long for a target of 44,713.
Downside: If Bank Nifty breaks below 44,120, then traders can go short for a target of 43,995 or 43,770.
Risk management:
It is important to use stop losses and position sizing when trading Bank Nifty. Traders should place a stop loss below the immediate support level if going long, and above the immediate resistance level if going short. Position sizing should be such that the risk of loss on any trade is limited to a small percentage of the trader's total portfolio.
Disclaimer: This is not financial advice. Please do your own research before making any trading decisions.
44,120
43,995
43,770
Resistance levels:
44,532
44,713
Analysis:
Bank Nifty is currently in an uptrend, with immediate support at 44,120. If this level breaks, then the next support levels are at 43,995 and 43,770. On the upside, the immediate resistance is at 44,532. If this level is crossed, then the next resistance is at 44,713.
Trading strategy:
Upside: If Bank Nifty sustains above 44,532, then traders can go long for a target of 44,713.
Downside: If Bank Nifty breaks below 44,120, then traders can go short for a target of 43,995 or 43,770.
Risk management:
It is important to use stop losses and position sizing when trading Bank Nifty. Traders should place a stop loss below the immediate support level if going long, and above the immediate resistance level if going short. Position sizing should be such that the risk of loss on any trade is limited to a small percentage of the trader's total portfolio.
Disclaimer: This is not financial advice. Please do your own research before making any trading decisions.