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.
