BANK NIFTY
Important Levels for 11-11-2021.
Bank Nifty was the sluggish Index today and it just had no intentions of going up, laboriously went up and price faced rejection at the Opening range and eventually we closed close to 200 points below the last swing high.
It would be a safe bet to avoid any positions unless 39000-39400 range is broken on either side.
If we breakout on the upside, we can take a SL of 39350 and aim for targets of 39540,39640 and 39750. And if see price breaking the range on the lower side, we can take SL of 39080 and aim for potential targets of 38860,38760 and 38690.
Option data indicates slight bearishness and the point to note down is that 39000 should act as major support but once 39000 is broken, we can see the price touch 38500 fast.
Bank Nifty was the sluggish Index today and it just had no intentions of going up, laboriously went up and price faced rejection at the Opening range and eventually we closed close to 200 points below the last swing high.
It would be a safe bet to avoid any positions unless 39000-39400 range is broken on either side.
If we breakout on the upside, we can take a SL of 39350 and aim for targets of 39540,39640 and 39750. And if see price breaking the range on the lower side, we can take SL of 39080 and aim for potential targets of 38860,38760 and 38690.
Option data indicates slight bearishness and the point to note down is that 39000 should act as major support but once 39000 is broken, we can see the price touch 38500 fast.
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