Bank Nifty Support and Resistance Levels For Dec 21/12/23
**Support Levels:**
1. 47200
2. 46950
3. 46736
**Resistance Levels:**
- If the market opens gapdown, then 47200 is identified as initial support.
- Additional resistance levels are mentioned at 47400 and 47600.
**Analysis:**
- The support levels at 47200, 46950, and 46736 are critical for monitoring potential downside movements in Bank Nifty.
- If the market opens gapdown, 47200 is noted as an initial support level.
- Resistance levels are identified at 47400 and 47600, indicating potential hurdles for an upside move.
**Important Considerations:**
- Stay informed about relevant news, economic indicators, and global events that might impact the financial markets.
- Ensure a well-defined trading strategy and use risk management tools to manage potential losses.
- Regularly monitor price action and technical indicators for insights into market dynamics.
**Support Levels:**
1. 47200
2. 46950
3. 46736
**Resistance Levels:**
- If the market opens gapdown, then 47200 is identified as initial support.
- Additional resistance levels are mentioned at 47400 and 47600.
**Analysis:**
- The support levels at 47200, 46950, and 46736 are critical for monitoring potential downside movements in Bank Nifty.
- If the market opens gapdown, 47200 is noted as an initial support level.
- Resistance levels are identified at 47400 and 47600, indicating potential hurdles for an upside move.
**Important Considerations:**
- Stay informed about relevant news, economic indicators, and global events that might impact the financial markets.
- Ensure a well-defined trading strategy and use risk management tools to manage potential losses.
- Regularly monitor price action and technical indicators for insights into market dynamics.