Bankex Analysis for 29-07-2024: Support & Resistance Levels
Discover Trade Opportunities in the Choppy Market Zones
The Bankex is anticipated to demonstrate a cautious trend on 29-07-2024 being expiry day. Despite a recent positive performance marked by a sharp recovery from its bottom, driven by overall market sentiment and developments in the banking sector, short-term volatility remains a possibility. On the last trading session, Bankex had a subdued start but quickly gained momentum from a day low of 57,680, closing at 58,600. Key support and resistance levels for Bankex are crucial for traders to consider.
Traders should closely monitor support and resistance levels as they navigate the Bankex expiry and overall trends in the banking sector. By staying informed about the Bank Nifty and its potential movements can provide valuable insights for making strategic decisions in Bankex also. The banking sector's developments and market sentiment will continue to influence the Bankex and Bank Nifty, highlighting the importance of being prepared for potential volatility.
Bankex Support & Resistance Levels for Tomorrow:
Support Levels:
The first support level is at 57,600, followed by a stronger support at 56,800.
Resistance Levels:
On the upside, the initial resistance is between 58,700 and 59,000, with strong resistance at 59,300 to 59,500.
Technical Indicators for Bankex Select:-
Max Pain for Bankex Index: 58,500
PCR (Put-Call Ratio): 0.79 Slightly Bearish
IV (Implied Volatility): 10.61 as of the closing on 26-07-2024.
Stay updated with the latest insights on Bankex and Bankex Expiry, helping you anticipate potential movements and navigate the volatile market conditions effectively.
Disclosure: I am not a SEBI registered analyst. The information shared here is solely for educational purposes and should not be interpreted as a financial advice. Always consult with a qualified financial advisor before making any investment related decisions. The publisher does not endorse or support social media shares of the published content on any platform.
The Bankex is anticipated to demonstrate a cautious trend on 29-07-2024 being expiry day. Despite a recent positive performance marked by a sharp recovery from its bottom, driven by overall market sentiment and developments in the banking sector, short-term volatility remains a possibility. On the last trading session, Bankex had a subdued start but quickly gained momentum from a day low of 57,680, closing at 58,600. Key support and resistance levels for Bankex are crucial for traders to consider.
Traders should closely monitor support and resistance levels as they navigate the Bankex expiry and overall trends in the banking sector. By staying informed about the Bank Nifty and its potential movements can provide valuable insights for making strategic decisions in Bankex also. The banking sector's developments and market sentiment will continue to influence the Bankex and Bank Nifty, highlighting the importance of being prepared for potential volatility.
Bankex Support & Resistance Levels for Tomorrow:
Support Levels:
The first support level is at 57,600, followed by a stronger support at 56,800.
Resistance Levels:
On the upside, the initial resistance is between 58,700 and 59,000, with strong resistance at 59,300 to 59,500.
Technical Indicators for Bankex Select:-
Max Pain for Bankex Index: 58,500
PCR (Put-Call Ratio): 0.79 Slightly Bearish
IV (Implied Volatility): 10.61 as of the closing on 26-07-2024.
Stay updated with the latest insights on Bankex and Bankex Expiry, helping you anticipate potential movements and navigate the volatile market conditions effectively.
Disclosure: I am not a SEBI registered analyst. The information shared here is solely for educational purposes and should not be interpreted as a financial advice. Always consult with a qualified financial advisor before making any investment related decisions. The publisher does not endorse or support social media shares of the published content on any platform.
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