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Bank Nifty Prediction for 18 November 2024
Bank Nifty has already taken multiple support at the 50,000 level indicating a bounce back on Monday, and till the support is intact look for buying opportunities.
While the benchmark indices continued to slip for the 6th straight session, the Bank Nifty index rose slightly and closed with a gain of just 0.18% or 91 points after a rise to an Intraday high of 50,561.80 taking support at the 50,000 level again.
Nifty Bank Index also faces a highly volatile market today as the index fell to the red zone after a significant rise in the morning but somehow managed to close the day in green at 50,179 forming Rising Three Method on the hourly chart.
Bank Nifty Prediction for 18 November 2024
If you observe clearly – there is a small Double Top Pattern formation of the chart, and following this, we have a 2-day sharp selling in the Index previously.
But as of today, the Bank Nifty has taken support at the 50,000 again which is at its 200DEMA line – which indicates a Positive Market sentiment, and following this – the market is likely to rise on Monday, but it first needs to sustain above the 50,000 level.
Bank Nifty has the nearest support at the 50,000 level followed by 49,500 and 49,000 levels while on the higher side, the Index has the nearest resistance at the 50,500 level followed by 51,000 and 51,200 levels which is the 100DEMA line.
What to Expect from Bank Nifty on 18 November 2024
On Monday, the Nifty Bank is expected to rise as it has taken multiple support on the 23,500 level and failed to breach the support with we have a rising three methods on the hourly chart, which is again a bullish pattern – suggesting a Bounce Bank in the Bank Nifty Index on Monday, 18 November 2024.
Trading Level for Nifty: 49,500 – 51,000
Also Read:
Nifty Prediction for 11 March 2026
By: Raaz Aryan
March 10, 2026
Bank Nifty Support and Resistance for 18 November 2024
| Nifty Support Levels | Nifty Resistance Levels |
|---|---|
| 50,000 | 50,500 |
| 49,500 | 51,000 |
| 49,000 | 51,200 |
Note:- For the Most Accurate Data you can revisit this Page after 11:00 AM (during Trading hours), so we can update the Trade Setup after analyzing the Market.
Happy Trading 🙂
