As we approach Monday’s market, our team of experts at Trade Encore deciphers the potential moves, 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 is currently above 44,151, indicating a positive outlook. It aims to stay above 44,420 for a continuing bullish trend. A dip below 44,151 could bring about a potential shift in sentiment.
| Case No | Particulars | Positions to be Initiated |
|---|---|---|
| I | Bank Nifty above 44,420 | Continuing Bullish |
| II | Bank Nifty between 44,420 and 44,151 | Sideways |
| III | Bank Nifty below 44,151 | Cautious Approach |
In summary, Monday’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 decipher the potential moves in the market. 📈📉 #Nifty50 #BankNifty #TradeEncore
