Bank Nifty is expected to open gap down tomorrow as per global cues. Down Jones and other Major Indices in European and Asian Markets are trading in Red.
As of now at 10 PM IST on 19 September 2023, Dow Jones is trading down for about 300 points and still falling. We can predict the negative opening of Banknifty Tomorrow as well if Dow futures Closes in Red.
However, As a trader, you should always work on levels and important Zones. Here are some important conclusions from our Prediction:
| Index | Opening Value | Predicted High | Predicted Low | Closing Prediction |
|---|---|---|---|---|
| Nifty Bank | 45880 | 46620 | 45490 | Between 46620-45490 |
Note: These Levels are based on our Analysis, please do your own analysis and research before taking any trade action.
Bank Nifty OI Data Analysis
Put OIs at the current Spot Level is 3.41 Lacs and Calls OI is about 1.67 Lacs. So Comparatively, there is more OI in Put Side which means market can still bounce from the current support level is this OI data remains unchanged.
Bank Nifty PCR Data
Current PCR in Bank Nifty is 0.7774 which is Negative. Traders should plan for bearish trades only till PCR data is below 1.
Bank Nifty Futures Heatmap
Track the list of these 12 constituents of Bank Nifty to decide the trend. As of now, since most of them are in red, the trend is Negative.
Plan for Long Trades only when major Banks live HDFC, Axis and Kotak are trading in Green. Make sure to check this live heatmap data on Trade Brains.
Happy Trading!
