As we approach Friday’s market, our team of experts at Trade Encore navigates through the unfolding trends, considering key support and resistance levels.
Nifty 50 Analysis:
Nifty 50 positions itself, aiming to stay above 20,222 for a continuing bullish trend. If it dips below 19,986, it might indicate a potential shift to bearish territory. A potential sideways movement is expected between 20,222 and 19,986.
| Case No | Particulars | Positions to be Initiated |
|---|---|---|
| I | Nifty 50 above 20,222 | Continuing Bullish |
| II | Nifty 50 between 20,222 and 19,986 | Sideways |
| III | Nifty 50 below 19,986 | Continuing Bearish |
Bank Nifty Analysis:
Bank Nifty charts its course, aiming to stay above 44,151 for a bullish outlook. A potential sideways movement is anticipated between 44,151 and 43,690. A dip below 43,690 could indicate a potential shift to bearish territory.
| Case No | Particulars | Positions to be Initiated |
|---|---|---|
| I | Bank Nifty above 44,151 | Continuing Bullish |
| II | Bank Nifty between 44,151 and 43,690 | Sideways |
| III | Bank Nifty below 43,690 | Continuing Bearish |
In summary, Friday’s trading session holds significance for both Nifty 50 and Bank Nifty. These support and resistance levels, along with potential sideways movements, provide insights into market directions. Stay vigilant, stay informed, and make well-informed decisions as you navigate through the unfolding trends. 📈📉 #Nifty50 #BankNifty #TradeEncore
