Banknifty big moves expected
as banknifty closed on important support level of 39500, we can expect big moves either side.
As of now, there was FII selling from last 7 days due to monthly expiry may be,
Our bank results are not that much bad, hence there is no any special reason we found in today's sell off,
From 29th Oct we can expect stop selling and start of fresh buying by FII, And market sentiment may be again bullish,
If Bank nifty opened and sustain above 39650 tomorrow, we can expect 40000 levels in tomorrow's session and also 41000 shortly,
There is no any god resistance between 39700 to 40000,
But if it started trading below 39350, then next support would be 39000 a psychological level and 38800 is technical support, next would be 38385,
Happy Trading
As of now, there was FII selling from last 7 days due to monthly expiry may be,
Our bank results are not that much bad, hence there is no any special reason we found in today's sell off,
From 29th Oct we can expect stop selling and start of fresh buying by FII, And market sentiment may be again bullish,
If Bank nifty opened and sustain above 39650 tomorrow, we can expect 40000 levels in tomorrow's session and also 41000 shortly,
There is no any god resistance between 39700 to 40000,
But if it started trading below 39350, then next support would be 39000 a psychological level and 38800 is technical support, next would be 38385,
Happy Trading
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