Bank Nifty Analysis for 09/12/2024
I am expecting a gap-down opening for tomorrow.
53500 will act as a crucial level for the entire week.
As the market is already in an uptrend:
- If Bank Nifty opens gap-down, it may take support at 53240. My plan will be to go long for a target of 53500.
- If Bank Nifty falls below 53240, it is likely to find support between 53030 and 53070. At this point, I will initiate a long trade for 53500 with a stop loss at 52900.
If Bank Nifty opens gap-up, it is expected to face resistance at 53780 and further at 53870. My plan will be to short in this range with a stop loss at 53950 and a target of 53500.
All levels are based on spot prices. These levels are calculated precisely—plot them on your chart and trade accordingly.
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