Bank Nifty Trade Setup for 19th October 2022
Bank Nifty is looking bullish in the short term with potential to move higher if the 40500 level is broken
Outlook
- Charts : Bullish
- OI Data : Bullish - 40500 is a strong area of resistance
- FII Activity : Super Bullish
Verdict :- Bullish outlook, expect an up move at the opening and if the price is able to sustain above 40500 then we may see 41000 as well. SGX Nifty indicates a flat opening despite the global markets being strongly in green. We may see a larger movement in our index then SGX after opening.
Outlook
- Charts : Bullish
- OI Data : Bullish - 40500 is a strong area of resistance
- FII Activity : Super Bullish
Verdict :- Bullish outlook, expect an up move at the opening and if the price is able to sustain above 40500 then we may see 41000 as well. SGX Nifty indicates a flat opening despite the global markets being strongly in green. We may see a larger movement in our index then SGX after opening.
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