As we approach Friday’s market, our team of experts at Trade Encore navigates through the market dynamics, considering key support and resistance levels.
Nifty 50 Analysis:
Nifty 50 positions itself, aiming to stay above 19,840 for a continuing bullish trend. If it maintains a level below 19,723, it might indicate a potential shift to bearish territory. A potential sideways movement is expected between 19,840 and 19,723.
| Case No | Particulars | Positions to be Initiated |
|---|---|---|
| I | Nifty 50 above 19,840 | Continuing Bullish |
| II | Nifty 50 between 19,840 and 19,723 | Sideways |
| III | Nifty 50 below 19,723 | Continuing Bearish |
Bank Nifty Analysis:
Bank Nifty charts its course, striving to stay above 43,690 for a bullish outlook. A potential sideways movement is anticipated between 43,690 and 43,394. A dip below 43,394 could indicate a potential shift to bearish territory.
| Case No | Particulars | Positions to be Initiated |
|---|---|---|
| I | Bank Nifty above 43,690 | Continuing Bullish |
| II | Bank Nifty between 43,690 and 43,394 | Sideways |
| III | Bank Nifty below 43,394 | 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 market dynamics. 📈📉 #Nifty50 #BankNifty #TradeEncore
