BANKNIFTY, October 26, 2023
Pre-market analysis for Bank Nifty: Possible surprise breakdown on expiry
Bank Nifty followed the descending trendline and support and resistance levels that were plotted yesterday, as expected. No surprise breakouts occurred.
I have plotted fresh support and resistance lines based on historical patterns. Considering expiry tomorrow, Bank Nifty may start with a small gap up or gap down, followed by consolidation with sideways movement. However, given the current market sentiment and trend, a surprise breakdown is also possible.
This is just an assumption, and you should always keep that in mind. Take positions only when there is a clear trend and movement, especially since it is expiry.
If you like my pre-market analysis, please like and comment.
Bank Nifty followed the descending trendline and support and resistance levels that were plotted yesterday, as expected. No surprise breakouts occurred.
I have plotted fresh support and resistance lines based on historical patterns. Considering expiry tomorrow, Bank Nifty may start with a small gap up or gap down, followed by consolidation with sideways movement. However, given the current market sentiment and trend, a surprise breakdown is also possible.
This is just an assumption, and you should always keep that in mind. Take positions only when there is a clear trend and movement, especially since it is expiry.
If you like my pre-market analysis, please like and comment.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.