Bank Nifty Technical Analysis For Tomorrow
Bank Nifty Technical Analysis for October 03, 2023
Market Trend: Bullish
Support Levels: 44600, 44465, 44200
Resistance Levels: 44900, 45000
Key Highlights:
Bank Nifty is in a bullish trend and has been making higher highs and higher lows.
The market is likely to go upside on Tuesday, October 02, 2023, as indicated by the following:
Options Data: Previous day CE writers exited from the market, which is a bullish signal.
Price Action: If the market opens gap-up and tests the previous day's low, then we can go long on the upside.
Trading Strategy:
Go Long: If the market opens gap-up and tests the previous day's low, then we can go long on the upside.
Stop Loss: Place a stop loss below the previous day's low.
Target: Target a profit of 1-2% on your trade.
Example:
Entry: Buy Bank Nifty at 44600
Stop Loss: 44500
Target: 44800
Risk Management:
It is important to practice risk management when trading. Never risk more than 1-2% of your capital on any single trade.
Disclaimer:
This is just a sample trading strategy. There is no guarantee that it will be successful. Please do your own research before trading.
Please note that this is just a sample analysis and trading strategy. It is important to do your own research and consult with a financial advisor before making any trading decisions.
Market Trend: Bullish
Support Levels: 44600, 44465, 44200
Resistance Levels: 44900, 45000
Key Highlights:
Bank Nifty is in a bullish trend and has been making higher highs and higher lows.
The market is likely to go upside on Tuesday, October 02, 2023, as indicated by the following:
Options Data: Previous day CE writers exited from the market, which is a bullish signal.
Price Action: If the market opens gap-up and tests the previous day's low, then we can go long on the upside.
Trading Strategy:
Go Long: If the market opens gap-up and tests the previous day's low, then we can go long on the upside.
Stop Loss: Place a stop loss below the previous day's low.
Target: Target a profit of 1-2% on your trade.
Example:
Entry: Buy Bank Nifty at 44600
Stop Loss: 44500
Target: 44800
Risk Management:
It is important to practice risk management when trading. Never risk more than 1-2% of your capital on any single trade.
Disclaimer:
This is just a sample trading strategy. There is no guarantee that it will be successful. Please do your own research before trading.
Please note that this is just a sample analysis and trading strategy. It is important to do your own research and consult with a financial advisor before making any trading decisions.
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.