Here in this post we will try to provide Bank Nifty prediction for tomorrow on daily basis, here we will discuss about bank nifty important level, bank nifty support zone and resistance zone, bank nifty today performance etc. So please check it out on regular basis.
Bank Nifty Prediction for tomorrow
Bank Nifty Today’s performance:
Yesterday Bank Nifty traded in a narrow range, within the entire day session bank nifty traded in a 300 points range, and finally at the end closed near its opening level at 42779.
Today on 29th Dec Bank nifty opened gap down with 100 points, and within 10 minutes touched the lower level of 42489. That was the low of the day, after that around next 2 hours bank nifty startred consolidation with higher lows on a 15 min chart.
Around 11:30 AM bank nifty crossed an important level of 630 towards upside. Then again for an hour bank nifty consolidated and around 1 PM, bank nifty started to move in up direction.
First bank nifty crossed the yesterday closing level of 42779 and then it crossed the yesterday’s high as well as important resistance level of 43030, next huge short covering lead to bank nifty to 43498 level.
Finally with adjusted price bank nifty closed with a shooting start candle around 250 points low from today’s high at 43309.
Bank Nifty Prediction for tomorrow Friday (30th Dec)
Bank nifty analysis on daily chart
On 26th dec bank nifty made a strong bullish candle, after that next two days bank nifty didn’t given a clear move or we can say it after a long candle it was consolidated two days. Then today bank nifty rebound from yesterday previous day low, even it respect that level and made a bullish engulfing candle that completely engulfed yesterday candle, and closed today at 43252 level.
That is a very good closing because we closed above the important resistance level of 43000. Now it confirmed that market trend has been change from negative to positive.
Most probably chances are after today big move tomorrow bank nifty would trade in a narrow range, or consolidate, so be cautious and only trade if you find a trending market, if bank nifty trade in range bound then you should avoid trading for tomorrow, and tomorrow is the last day of the week as well as last trading session of this year 2022.
Bank nifty analysis on 15 min Chart
If Bank Nifty opening near today’s closing level:
On daily chart bank nifty given a good closing but if we check on 15 min chart then at the end bank nifty made a shooting star pattern, that is seemed to be a bearish candle. But it will not confirmed until tomorrow bank nifty started to trade below this shooting start candle. Therefore tomorrow bank nifty opening will be very important to trade, there would be three condition, either bank nifty would open gap up, or gap down or near its closing level.
Bank Nifty Upside move : If tomorrow bank nifty opens between 330 and 480 level , and spent some time then if the it cross the level of 43530 then next target for bank nifty would be 43612. After 43612 level next target would be 43675 and final target would be 43760.
Bank Nifty Downside move : If bank nifty started to trade below today’s closing level then we could see some correcting in bank nifty, so in downward direction first support level would be 43140, next target in downside would be 43085, and next 43000 should work as a strong support.
If Bank Nifty open Gap down:
If bank nifty opens gap down and goes in upside direction, then today’s closing level would work as the resistance level , so it would be better, if you find any bearish candle around that level then you can short for a downfall with a strict stop loss above the top of bearish candle.
Then in downside your first target would be 43140, 43085, near 43000 level there would be a strong support so you can book your profit there.
If bank nifty cross today’s closing level and sustain above that level then first target would be 43360, next target would be 43475 and final target would be 43580.
If Bank Nifty opens Gap up:
If bank nifty opens gap up then 43580 to 43600 level would work as a strong resistance for bank nifty. If bank nifty take resistance around that level and correct then in downward direction first target would be 43480, after it next target would be 43360 level.
That’s the end of post Bank Nifty Prediction for tomorrow, write your view below in comment section.