Bank Nifty Analysis for 30/01/2025
Market Expectation:
• Expecting a flat to slightly gap-up opening tomorrow.
• Key focus on retracement levels before entering trades.
Key Levels for Bank Nifty:
1. Support Levels:
• 49,070
• 48,850
• 48,700
2. Resistance Levels:
• 49,300
• 49,420
Trading Plan:
1. Bullish Scenarios:
• Condition 1: If Bank Nifty retraces to 49,070, plan a long trade targeting 49,300 and higher.
• Condition 2: If Bank Nifty sustains above 49,300, plan a long trade targeting 49,700.
2. Bearish Scenarios:
• Condition 1: If Bank Nifty fails to sustain above 49,300, plan a short trade targeting 49,070.
• Condition 2: If Bank Nifty breaks below 49,070, plan a short trade targeting 48,850.
Additional Notes:
• Retracement strategy: Wait for price action confirmation at key levels before entering trades.
• All levels are precisely calculated—plot them on your chart for accurate trade execution.
Stay patient and disciplined while executing trades!
