Bank Nifty Analysis for 11/12/2024
I am expecting a gap-up opening for tomorrow.
53625 will be an important level to watch.
Resistance levels: 53625, 53825
Support levels: 53500, 53360
- After a gap-up opening, monitor if Bank Nifty sustains above 53625. If it does, we can expect a move towards 53825.
- If Bank Nifty opens gap-down near 53500, a long trade can be considered for targets of 53625 and 53825.
- If Bank Nifty sustains below 53500, a short trade can be initiated for a target of 53360.
The market has been range-bound over the last two sessions, and similar behavior can be expected tomorrow.
