Today Support and Resistance for Nifty and BankNifty
Good Morning Everyone
Date: 22nd November 2023
1. Yesterday unfolded as anticipated – a complete range-bound day. The market sustained the gap-up, remaining consolidated at the same level throughout.
Such moves aren't favorable for the index.
I advise against buying in the index, especially positionally. Beware of FOMO-driven purchases; caution is paramount.
**Key Levels for Today:**
- *Upside Critical Point:* 19,850 (Heaviest resistance; crossing it poses a significant challenge for the index).
- *Downside Critical Support:* 19,660 (Crucial; breach may lead to deeper cuts in the index).
**BankNifty Levels:**
1. *Upside Resistance:* 43,850 (Critical for any upward movement).
2. *Downside Support:* 43,500 (Essential; breach could lead to a deeper correction).
*In the range between these two levels, consider a no-trade zone.*
**Additional Insights:**
- No specific stock updates today.
- Wishing everyone a profitable day ahead!
What's your view on this? Please share.
Contact 8130724243 for Stock Market Courses from NSE Academy. We are affiliated with Empirical F&M Academy and NSE Academy.
Hope this post adds valuable insights to your trading/investment journey.
Don't forget to share with your friends. (*Bcz as your friends join you will have someone like-minded with whom you can share and discuss and bring clarity to your learning and life.*)
***
Disclaimer:
Please note that this is only for Study Purpose and not a recommendation.
So please do your own research before investing in market.
Date: 22nd November 2023
1. Yesterday unfolded as anticipated – a complete range-bound day. The market sustained the gap-up, remaining consolidated at the same level throughout.
Such moves aren't favorable for the index.
I advise against buying in the index, especially positionally. Beware of FOMO-driven purchases; caution is paramount.
**Key Levels for Today:**
- *Upside Critical Point:* 19,850 (Heaviest resistance; crossing it poses a significant challenge for the index).
- *Downside Critical Support:* 19,660 (Crucial; breach may lead to deeper cuts in the index).
**BankNifty Levels:**
1. *Upside Resistance:* 43,850 (Critical for any upward movement).
2. *Downside Support:* 43,500 (Essential; breach could lead to a deeper correction).
*In the range between these two levels, consider a no-trade zone.*
**Additional Insights:**
- No specific stock updates today.
- Wishing everyone a profitable day ahead!
What's your view on this? Please share.
Contact 8130724243 for Stock Market Courses from NSE Academy. We are affiliated with Empirical F&M Academy and NSE Academy.
Hope this post adds valuable insights to your trading/investment journey.
Don't forget to share with your friends. (*Bcz as your friends join you will have someone like-minded with whom you can share and discuss and bring clarity to your learning and life.*)
***
Disclaimer:
Please note that this is only for Study Purpose and not a recommendation.
So please do your own research before investing in market.
منشورات ذات صلة
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.