Bank Nifty Technical Analysis For Tomorrow

2 Eki 2023

Bank Nifty Technical Analysis for October 03, 2023

Market Trend: Bullish

Support Levels: 44600, 44465, 44200

Resistance Levels: 44900, 45000

Key Highlights:

Bank Nifty is in a bullish trend and has been making higher highs and higher lows.

The market is likely to go upside on Tuesday, October 02, 2023, as indicated by the following:

Options Data: Previous day CE writers exited from the market, which is a bullish signal.

Price Action: If the market opens gap-up and tests the previous day's low, then we can go long on the upside.

Trading Strategy:

Go Long: If the market opens gap-up and tests the previous day's low, then we can go long on the upside.

Stop Loss: Place a stop loss below the previous day's low.

Target: Target a profit of 1-2% on your trade.

Example:

Entry: Buy Bank Nifty at 44600

Stop Loss: 44500

Target: 44800

Risk Management:

It is important to practice risk management when trading. Never risk more than 1-2% of your capital on any single trade.

Disclaimer:

This is just a sample trading strategy. There is no guarantee that it will be successful. Please do your own research before trading.

Please note that this is just a sample analysis and trading strategy. It is important to do your own research and consult with a financial advisor before making any trading decisions.