Bank nifty important pattern analysis for the month #Oct/2023
Bank nifty spot as on the date 10/10/2023 is 44360.15 closing basis.
In daily time frame its seems to be make a head and shoulders pattern in future within one 2/3 day,
As of now if bank nifty going upside and take resistance around 45000-45080 levels and stay below 45150 levels only then this hade and shoulders pattern going to be executed and then the new important levels would be open.
short only possible if stay below 44800 levels closing basic in daily time frame then a strong downside move can be happen of #1000 points upto 43800 within one or few day.
As on today (10/10/2023) its clearly shows a strong short covering move so don't going to short unnecessary without getting confirmation but as per global circumstance and lot of micro & macro data going tp publish this week so its good to have a neutral view and trade only as per technical levels with Stop loss.
IMP levels :
Above 44380 levels target 44500/44750 and then 44960/45080
Below 44320 first support 44250/44000 and then 43800.
In daily time frame its seems to be make a head and shoulders pattern in future within one 2/3 day,
As of now if bank nifty going upside and take resistance around 45000-45080 levels and stay below 45150 levels only then this hade and shoulders pattern going to be executed and then the new important levels would be open.
short only possible if stay below 44800 levels closing basic in daily time frame then a strong downside move can be happen of #1000 points upto 43800 within one or few day.
As on today (10/10/2023) its clearly shows a strong short covering move so don't going to short unnecessary without getting confirmation but as per global circumstance and lot of micro & macro data going tp publish this week so its good to have a neutral view and trade only as per technical levels with Stop loss.
IMP levels :
Above 44380 levels target 44500/44750 and then 44960/45080
Below 44320 first support 44250/44000 and then 43800.
Aviso legal
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