Bank Nifty Support and Resistance Levels 15Nov2023
Support Levels:
1. 43800: This is the initial support level. If the market experiences a decline, it could find support around this level.
2. 43656: Another support level to watch for.
Resistance Levels:
1. 44000: This is the first resistance level. If the market sustains above 44000, it could indicate a potential upside move.
2. 44100 to 44153: These are additional resistance levels. A breakout and sustained move above these levels may signal further bullish momentum.
3. 44150: This is a significant resistance level to monitor for a potential extended upside move.
Important Notes:
- As with any trading, it's essential to consider other factors such as news events, economic data, and global events that can influence the market.
- Market conditions can change rapidly, so having a well-defined trading strategy and using risk management tools, like stop-loss orders, is crucial to manage potential losses.
- Pay attention to price action and technical indicators to confirm potential breakouts and reversals.
1. 43800: This is the initial support level. If the market experiences a decline, it could find support around this level.
2. 43656: Another support level to watch for.
Resistance Levels:
1. 44000: This is the first resistance level. If the market sustains above 44000, it could indicate a potential upside move.
2. 44100 to 44153: These are additional resistance levels. A breakout and sustained move above these levels may signal further bullish momentum.
3. 44150: This is a significant resistance level to monitor for a potential extended upside move.
Important Notes:
- As with any trading, it's essential to consider other factors such as news events, economic data, and global events that can influence the market.
- Market conditions can change rapidly, so having a well-defined trading strategy and using risk management tools, like stop-loss orders, is crucial to manage potential losses.
- Pay attention to price action and technical indicators to confirm potential breakouts and reversals.
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