Nifty Bank Index

8 Sep Bank Nifty Support & Resistance Levels Marked

Important support & Resistance levels marked for Bank Nifty .
Kindly use these levels only as Entry & Exit when market trades near these levels and is taking support or facing resistance.

7 Sep Analysis
Flat opening pushed prices below S2 but support from 31 Aug Virgin Pivot, pushed prices back to CPR. And then resistance at CPR moved prices back towards S1.

1st Entry - When price moved below previous day low
2nd Entry - Support of S2
3rd Entry - Resistance at CPR

Note:
BN closed above CPR and CPR is narrow, Expecting Trending day tomorrow.
Nifty also closed at CPR and CPR is almost 0. All 3 Pivot, TC & BC are at the same level.

Trading Strategies for 8 Sep
Focus on Pivot & accordingly at R1 & S1 level. Any break from these levels will lead the day. So based on Gap-up / gap-down opening tomorrow, trade BN.

Trade with the trend only. Don't go against trend. Remember, "Trend is your friend, until it bends".

Disclaimer