Bank Nifty Technical Analysis for Tomorrow

24 sept. 2023

**Bank Nifty Technical Analysis for Tomorrow - September 25, 2023**

**Overall Outlook**

Bank Nifty is expected to open negative tomorrow, following the negative global markets. However, if the market opens above 44,550, then the 44,500 level will act as a support. On the upside, the resistance levels are 44,970 and 45,200-45,400.

**Support and Resistance Levels**

**Supports:**

* 44,500 (strong support as per OI data)

**Resistances:**

* 44,800/44,900
* 45,000
* 44,970
* 45,200-45,400

**Trading Strategy**

* **Buy:** If the market trades above 44,970 and closes with a 15-minute green candle, then a buying side movement can be expected.
* **Sell:** Wait for a breakdown of 44,300 before selling.

**Note:** Please follow price action and wait for opportunities to trade.

**Additional Comments**

* The global markets are negative due to concerns about rising interest rates and a potential recession.
* Bank Nifty is a banking sector index, and the banking sector is sensitive to interest rates.
* If the global markets continue to remain negative, it could weigh on Bank Nifty as well.
* However, if the market opens above 44,550 tomorrow and closes with a 15-minute green candle, then it could signal a bullish reversal.
* Traders should carefully monitor the price action and wait for opportunities to trade.