Bank Nifty Technical Trend Analysis for 05th May 2021
Bank Nifty Strong Support Level 31740 And resistance level is 32800. Bear Will hammer today downside if break 3200 down side support near to 31850/31740/31450. down Side will come from upper level;
Bank Nifty Gann Level Analysis
As per WD Gann Angle Level Strong Resistance up side 32615 and BankNifty Strong Support 31920.
Nifty Technical Analysis
On the NSE, Nifty50 dropped from psychological 14,500 to 14,496, down 138 points, or 0.94 percent. Earlier in the day, it hit a low of 14,461.
as per Previous Nifty Technical Analysis strong support level given 14440. now Nifty technically near to support level bounce if cross 14570 next important resistance level is 14660/14740/14820.
Nifty Index Option Analysis
Nifty 14500 Put OI =2895450 /14600 Call oi =1777650
Market Wrap up 04th May 2021
The larger markets, while in the red, outperform the benchmarks. Today S&P BSE MidCap and SmallCap closed down about half a percentage point. Losses remained limited among PSU Bank’s good stock purchases, such as Union Bank of India, Bank of India, Indian Bank, Central Bank of India, as well as NBCC, Bharat Forge, Shriram City Union Finance, Dish TV, Tata Steel BSL and Excel Industries.
Let me go by Disclaimer these are my personal views and trade taken on these observation should be traded with strict SL .Please also read the detailed Disclaimer mentioned in the left side of Blog.
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