Bank Nifty had a all time high on 28 dec 2023 9 am candle on hourly chart at 48636.45. Index has made a swing low of 47010.80 on 10 Jan 2024 9 am candle. We have retraced 75% of the fall range recently but not closed above it. We have taken support at 47992.65 level on chart.
On downside 47950 is a good level to watch if fall continues. On upside 48200 is an important level on closing basis for the index.
One can be positive for tomorrow's expiry if index is trading above 48207.25 for target of 48314.45 and 44421.85. Below 48207.25 downside targets are 48052.75 and 47992.75 as seen on chart.
Use the levels given prudently while trading on the expiry day.
Happy Trading !!!
N.B. Not an Trading Advice. With usual disclaimers as applicable within the reach of this charting platform.
On downside 47950 is a good level to watch if fall continues. On upside 48200 is an important level on closing basis for the index.
One can be positive for tomorrow's expiry if index is trading above 48207.25 for target of 48314.45 and 44421.85. Below 48207.25 downside targets are 48052.75 and 47992.75 as seen on chart.
Use the levels given prudently while trading on the expiry day.
Happy Trading !!!
N.B. Not an Trading Advice. With usual disclaimers as applicable within the reach of this charting platform.