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Weekly and Intraday Bank Nifty levels: 24 April 2023
weekly and intraday Bank Nifty levels: 24 April 2023
Weekly Bank Nifty Levels:
The Bank Nifty index has been trading within a range between 43000 and 41800 for the past week. The 43000 level has been acting as a strong resistance, while the 41800 level has been providing support to the index. If the Bank Nifty breaks above 43000, it could move higher toward the next target level. However, if it falls below the 41800 level, it may find support at 40800.
Intraday Bank Nifty Levels:
For intraday traders, here are some levels to watch out for while trading the Bank Nifty index. The first level to watch out for is 42600, which could act as a resistance level. If the index crosses this level, it could move toward the next zone between 42380-42430. Traders can exit their call positions at this zone and take a reversal trade by buying a put option for 42220, with a stop loss at 42450.
If the Bank Nifty breaks below 42220, traders can take a call option position. However, if it falls below 41950, it may find support at 41830. If the index breaks below 41800, traders can consider buying a call option with a stop loss at 41730.
Overall, the Bank Nifty index has been trading within a range and traders need to be cautious while taking positions. It's important to keep an eye on the support and resistance levels to make informed trading decisions.
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