Bank Nifty Analysis for 29/01/2025
Market Expectation:
• Anticipating a gap-up opening tomorrow.
• Specific no-trade zones identified, acting as support or resistance based on price movement.
Key Levels for Bank Nifty:
1. No-Trade Zones:
• 48,700 to 48,850
• 49,150 to 49,350
2. Support Levels:
• 48,350
3. Resistance Levels:
• 49,650
Trading Plan:
1. Bullish Scenarios:
• Condition 1: If Bank Nifty sustains above 48,850:
• Plan a long trade targeting 49,200.
• Condition 2: If Bank Nifty crosses 49,350:
• Go long targeting 49,650.
2. Bearish Scenario:
• Condition: If Bank Nifty moves below 48,700:
• Switch to a bearish stance and short with a target of 48,350.
Additional Notes:
• No-Trade Zones: Avoid trading between 48,700–48,850 and 49,150–49,350 unless levels are broken.
• Levels are precisely calculated for effective decision-making.
• Plot these levels on your chart for clear visualization and trade execution.
Stay disciplined and trade based on the price behavior at these levels!
