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.
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