BankNifty levels for Monday 9th Oct

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Banknifty reacted well with RBI policy looking bullish and with global sentiments & GIFT NIFTY indicating a gap up open. Expected opening at or arond 44500 to 44600 area in that case wait for retrace it to test the low area support of 44400-44550 area previously resistance if holds then go long with positive price action there for targets of 44600,44700,44800,45000.
Anything sustains below 44400 could test lower area of 44000 and 43800 again.

Note

Seems all the run up rally on friday in GIFT nifty spoiled by israel issue

Note

taking support at previous week low and previous month low area if breaks next support at 43600

rakeshreddym

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