Bank Nifty Sustain is depends on Resistance which is at 51500, if it Stock Market open Gap up and first 15 to 30 minutes sustain above 51000 then go for upside movement else down side.
In Above Image we can clearly Shaws on Daily time frame that on Friday Bank Nifty Gains in a single green cancle movement, Will Bank Nifty Sustain Gain?
Besides, In Maharastra there was a Election so we already Knows BJP Mode is on therefore we Assume gap up on Monday but on the other side Heavy Sellers are also active to slow down Bull run rally.
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Potential Catalysts for the Market:
- Global Economic Indicators: Key economic data releases from the US, Europe, and China can influence market sentiment.
- Corporate Earnings: Upcoming quarterly earnings reports from Indian companies can impact stock prices.
- Geopolitical Events: Any geopolitical tensions or developments can trigger market volatility.
- Central Bank Policies: Monetary policy decisions by the Reserve Bank of India (RBI) and other central banks can impact interest rates and market liquidity.
- Oil Prices: Fluctuations in oil prices can affect inflation and corporate profits.
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Support & Resistance of Bank Nifty Given Below
Supports : 51000 & 50600
Resistance : 51500 & 51700