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BANKNIFTY POST-MARKET REPORT ON06-10-22 for NSE:BANKNIFTY by Saravanan55527

Hi,
The Bank Nifty opened a gap up -234 points and closed +173 points with a volatile of 375 points. Formed invertor hammer candle in the daily chart .
Illustrate the 15-minute chart, opened 39343 and went up to near R3 level not sustained again fell to R2 level. From there it moved up 190 points then consolidate for some time then reached today’s high of 39605 but did not sustain from there fell to today’s low and closed at 39233.
Today’s swing was around 1090 points.
The Fib retracement levels are drawn for the Daily chart , the support and resistance levels are as follows for tomorrow’s (07-10-22) trades.
Resistance

R3-39750, R2-39589 & R1-39463
Pivot & CPR:
P- 39374, BC 39286, TC 39420
Support:

S1-39286, S2-39176 & S3-38999
If Bank Nifty is sustained above 39425 the bull run will take place and moves upwards further ready to retrace the level of 39500, 39750 & 39900
If Bank Nifty is sustained below 39225 the bear run will continue and be ready to retrace the level of 39150,39000
So, we must be very careful to watch the above levels and do successful trade.
Disclaimer: Not SEBI registered advisers. It is my analysis of my experience. You may consult with your financial adviser for your action.

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