Bank Nifty Prediction For Tomorrow 1 April 2024

Bank Nifty Prediction For 1 April 2024 | Bank Nifty Prediction For Tomorrow

Overview of Bank Nifty :

For the Bank Nifty Prediction for 1 April 2024 first we need to look how bank nifty traded on previous trading day. Bank Nifty seemed to have been quite volatile on Thursday, March 28th 2024. According to the Graph of Bank Nifty the day’s high of Bank Nifty was at 47440 level, while the day’s low hit 46827 level. It eventually closed around 47124 level, which certainly indicates a significant level of fluctuation throughout the day.

Contents

Bank Nifty Prediction For 1 April 2024 | Bank Nifty Prediction For Tomorrow Overview of Bank Nifty :Graph Analysis of Bank Nifty For 1 April 2024:Bank Nifty Retest and Target Levels For CALL Side Movement:Bank Nifty Retest and Target Levels For PUT Side Movement:

Graph Analysis of Bank Nifty For 1 April 2024:

As we can see in the above graph Bank Nifty is trading on a trendline setup. It came down to its support level 45900 and then reversed to go up till 47400 level. In between this it fluctuates and created consolidation zone, the range of consolidation zone was from 46540 to 47000.

Bank Nifty Retest and Target Levels For CALL Side Movement:

In the last session of Thursday 28 March 2024, a sharp selling was happened in Bank Nifty and eventually it came down to its temporary support level of 47000. Now from here it may go to either upside or downside based on some key levels and breakout.

Let’s check in the next chart the breakout level and target.

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Here, according to my study Bank nifty may touch 47200-47230 level in the tomorrows morning session and then it may come down to 46900-47000 level for retest. Then if it goes above 47050, we may see good upward movement till 47400 and then 47750.

So we can keep target of 47400 and 47750 for tomorrow.

Bank Nifty Retest and Target Levels For PUT Side Movement:

Here, according to my study if Bank Nifty breaks the level of 46900 and retested it for downside then it can fall up to 300-400 points. We can see 46500 level but its hard to go down below this level as Bank Nifty is in up trend.

So for short side profit we can keep target of 46540 level for tomorrow.