As we approach Wednesday’s market, Nifty 50 appears to scale new heights, showing a bullish trend near its all-time high.
Nifty 50 Analysis:
Nifty 50 is in a bullish trend, aiming to sustain above 21,023 for continued upward momentum. A potential correction might be on the horizon if it falls below 20,622.
| Case No | Particulars | Positions to be Initiated |
|---|---|---|
| I | Nifty 50 above 21,023 | Continuing Bullish (Scaling New Heights) |
| II | Nifty 50 between 21,023 and 20,622 | Sideways |
| III | Nifty 50 below 20,622 | Continuing Bearish (Cautious Approach) |
Bank Nifty Analysis:
Bank Nifty encounters resistance at 46,987, signaling a potential challenge. It aims to continue its bullish trend above 46,987. A dip below 45,571 could introduce caution.
| Case No | Particulars | Positions to be Initiated |
|---|---|---|
| I | Bank Nifty above 46,987 | Continuing Bullish (Scaling New Heights) |
| II | Bank Nifty between 46,987 and 45,571 | Sideways |
| III | Bank Nifty below 45,571 | Continuing Bearish (Cautious Approach) |
In summary, Wednesday’s trading session holds significance for both Nifty 50 and Bank Nifty. As Nifty 50 aims to scale new heights, and Bank Nifty faces resistance, it’s crucial to stay informed and make well-informed decisions. 📈📉 #Nifty50 #BankNifty #TradeEncore
