Bank Nifty Analysis for 24/01/2025
Market Expectation:
• Anticipating a gap-up opening, driven by strong global cues and FII buying after a long time.
Key Levels for Bank Nifty:
1. Resistance Levels:
• 48,650
• 48,900
2. Support Levels:
• 48,500 (Strong Support)
• 48,000
Trading Plan:
1. Bullish Scenario:
• Condition: If Bank Nifty sustains above 48,650 after the gap-up opening:
• Plan a long trade targeting 48,900 and potentially higher levels.
2. Bearish Scenario:
• Condition: If Bank Nifty breaks below 48,500:
• Expect further downside to 48,000.
• Plan a short trade targeting 48,000.
Additional Note:
• All levels have been precisely calculated.
• Plot the levels on the chart for better visualization and execution of trades.
Trade strategically and monitor key levels for confirmations!
