Bank Nifty Support Resistance for 03/11/23
All Day Market Follow our Levels
Support Levels:
1. 42825: This is the first support level. If the market dips, it could find support around this level.
2. 42504: Another support level to watch for, especially if 42825 is breached.
Resistance Levels:
1. 43146: This is a critical resistance level. A breakout above this level may indicate a potential upside move.
2. 43584: If the market opens gap down and subsequently breaks through 43146, this level could act as resistance.
3. 43920: This is a significant resistance level, as you mentioned. It's a substantial barrier to watch for.
Important Notes:
- As with any trading, it's essential to consider other factors such as news events, economic data, and global events that can impact the market.
- Market conditions can change quickly, so having a well-defined trading strategy and using risk management tools, like stop-loss orders, is crucial to manage potential losses.
- Keep an eye on price action and other technical indicators to confirm potential breakouts and reversals.
All Day Market Follow our Levels
Support Levels:
1. 42825: This is the first support level. If the market dips, it could find support around this level.
2. 42504: Another support level to watch for, especially if 42825 is breached.
Resistance Levels:
1. 43146: This is a critical resistance level. A breakout above this level may indicate a potential upside move.
2. 43584: If the market opens gap down and subsequently breaks through 43146, this level could act as resistance.
3. 43920: This is a significant resistance level, as you mentioned. It's a substantial barrier to watch for.
Important Notes:
- As with any trading, it's essential to consider other factors such as news events, economic data, and global events that can impact the market.
- Market conditions can change quickly, so having a well-defined trading strategy and using risk management tools, like stop-loss orders, is crucial to manage potential losses.
- Keep an eye on price action and other technical indicators to confirm potential breakouts and reversals.