Bank Nifty Levels for 28th April 2023

 Bank Nifty Levels for 28th April 2023

Bank Nifty closed at 43350 on 27th April 2023. Here are some key levels to watch out for in the upcoming trading session.

Resistance Level: 43350

Bank Nifty is expected to face strong resistance at 43350. If it breaks this level, it could indicate a bullish trend and traders may consider taking Call positions. However, it is important to keep a close eye on the market trend and momentum before taking any position.

Support Levels:

43000 - 42950

Bank Nifty may face a minor correction if it breaks below the support level of 43000 - 42950. In such a scenario, traders can take Call positions until the market reaches 43150.

43150

If Bank Nifty breaks the resistance level of 43350 and reverses down, it may test the support level of 43150. If a reversal sign is seen on the trend line at 43150, traders can consider taking Put positions. On the other hand, if an upside breakout is observed, traders can take Call positions until the market reaches 43350.

42950

If Bank Nifty breaks down below the support level of 42950, traders can buy Put options and target 42750.

Conclusion:

The Bank Nifty is expected to face strong resistance at 43350. Traders should closely watch the market trend and momentum before taking any position. If the market breaks above 43350, it could indicate a bullish trend, while a break below 42950 could suggest a bearish trend. It is important to keep a watch on the support and resistance levels and make informed decisions. Happy trading!

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