Bank Nifty Trade Plan for 02 NOV 2021
Expect a possible gap up opening in Bank Nifty.
40050 is a first resistance to watch out in case of gap up opening.
If that is taken out taken out the next resistance is the breakout zone of 40172, if that is taken on upside we can expect 40400/40500 levels.
Any pull back to closing price or CPR on opening is a buying...
Bank Nifty expected to open in yesterday Range.
Narrow Ascending CPR looking for some good move today.
If CPR is sustained on opening and PDH is taken on upside then we can expect to test 36600 levels and higher.
In CPR is compromised and even expect it to retest PDL & may be even 36k.
If Bank nifty opens flat and takes support at CPR, we can look for possible long opportunity with first resistance at 35225 and 35292.
If 35292 is taken on the upside we can expect previous session high & may be Virgin CPR levels.
In case CPR is compromised on opening we can expect the support at Bullish reversal zone wherein we can again look...
Expect a flat opening in BN .
Bank Nifty is shown weakness on closing yesterday and well below today CPR levels.
36157 should act as a good resistance for BN today and if that is compromised we can expect it to again test previous session highs & higher.
In case if 36031 is taken on the lower side we can expect BN to test lower supports of 35895 & 35865 level.
Bank Nifty Trade Plan for 16 Aug 2021
BANK Nifty too looks bullish and expecting a flattish opening.
36087 is a good support and any retest to this level and support confirmed we can go long and wait for upper targets.
A breakout above 36235 is again a good buying opportunity for Target 1 & 2.
Prefer go short for a quick short target on breach of CPR.