Bank Nifty Analysis for 24-04-2024 expiry.
BankNifty touched the resistance zone of 48250 and reversed from there. Post which we had a sideways market.
It also to be noted that VIX has crashed nearly 20% for today. We can expect a sudden fall or raise in market due to this crash in upcoming days. Also, this will be good trade setup for option sellers but still the sudden spike n market will affect their setup as well.
Below are the BankNifty levels for 24/4/2024 expiry.
If BankNifty sustains above the resistance of 48250 we can expect a upward movement to above resistance levels
Below are the resistance levels to watch
If BNF moves downward and breaks the major support at 47900. We can expect a next support at 47700.
Below are the support levels to watch
It also to be noted that VIX has crashed nearly 20% for today. We can expect a sudden fall or raise in market due to this crash in upcoming days. Also, this will be good trade setup for option sellers but still the sudden spike n market will affect their setup as well.
Below are the BankNifty levels for 24/4/2024 expiry.
If BankNifty sustains above the resistance of 48250 we can expect a upward movement to above resistance levels
Below are the resistance levels to watch
- Resistance 1 48550
- Resistance 2 49000
If BNF moves downward and breaks the major support at 47900. We can expect a next support at 47700.
Below are the support levels to watch
- Support 1 47700
- Support 2 46600
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Penafian
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