Bank Nifty Analysis for 28/01/2025
Market Expectation:
• Anticipating a gap-up opening, with a possibility of a sharp reversal during the day.
• The level 48,100 will act as a critical pivot for deciding the market’s direction.
Key Levels for Bank Nifty:
1. Critical Level:
• 48,100
2. Resistance Levels:
• 48,250
• 48,550
3. Support Levels:
• 47,900
Trading Plan:
1. Bullish Scenario:
• Condition: If Bank Nifty sustains above 48,100:
• Go long with targets of 48,250 and 48,550, and further upside.
2. Bearish Scenario:
• Condition: If Bank Nifty falls below 48,100:
• Execute a short trade with a target of 47,900.
Key Factors for Upside View:
• Positive global cues.
• Strong FII derivative data indicating bullish sentiment.
Additional Note:
• All levels are precisely calculated.
• Plot these levels on your chart for clear reference and better trade execution.
Trade cautiously, following the price action around 48,100!
