There is more selling pressure in the Bank Nifty today due to some news related to SVB Bank. This has led to a gap down opening of at least 200 points. A gap down opening means that the market has opened at a lower level compared to the previous day's closing price.
The immediate support level for the Bank Nifty is likely to be 40080. A support level is a level in the market where there is a significant amount of buying pressure, which can make it difficult for prices to fall further. If the price reaches 40080 and stays there or bounces back up, it is likely to be a good buying opportunity.
However, if the Bank Nifty cannot sustain the 40080 level, the next support level is likely to be 39840. This means that if the price falls below 40080 and continues to drop, it is likely to find some support at 39840.
The immediate support level for the Bank Nifty is likely to be 40080. A support level is a level in the market where there is a significant amount of buying pressure, which can make it difficult for prices to fall further. If the price reaches 40080 and stays there or bounces back up, it is likely to be a good buying opportunity.
However, if the Bank Nifty cannot sustain the 40080 level, the next support level is likely to be 39840. This means that if the price falls below 40080 and continues to drop, it is likely to find some support at 39840.