Nifty and Bank Nifty Prediction for Monday, 16 Oct 2023
Last Trading Day on 13th November Friday Nifty closed near 19750 after a good recovery of around 90-95 points and the Banknifty closed near 44280 but not sustained its levels and it has closed near its opening price
For tomorrow 16 Oct 2023 what will be the prediction for Nifty and Banknifty in this post, we will cover all its levels and directions as per price action analysis in detail.
Nifty Analysis for Tomorrow in Detail:-
As per the above chart you can clearly check Nifty has good resistance near 19800-19850 if nifty doesn’t sustain these levels it may fall till 19550-19600 and so on. If Nifty holds 19800-19850 then you may see a good up move till 19900-19950-20000
Resistance Area for Nifty – 19800-19850 if Nify broke this area of resitance then in up side Nifty may go till 19900-19950-20000
Support Area for Nifty – 19550-19600
Banknifty Analysis for Tomorrow in Detail:-
Its Banknifty 30 min time frame chart you can clearly check as per the trendline it broke the trendline and trading above this .Now in banknifty good resitance will act near -44650-44750 , before taking trade in buy wait to sustain these levels in Banknifty .
Resistance Area for BankNifty – 44650-44750 if bankNify broke this area of resistance then in up side Banknifty may go till 44900-45000
Support Area for Banknifty – 43900-44000 Good area for entry in Buy
