Bank Nifty Prediction for Tomorrow – Wednesday, 3rd April 2024.

Bank Nifty is looking sideways and the market is losing its momentum as the repo rate is expected to remain unchanged at 6.50% by RBI in the discussion between 3rd to 5th April, 2024.

So for Wednesday 3rd April, we expect market to trade sideways, as it is facing resistance from the 47,700 level and taking support at 47,400 level. Also the RBI repo rate discussion to be in focus, as it decide the next move for the broader index which will be announced on 5th April, till then marker may trade sideways.

Also tomorrow is the weekly expiry of Bank Nifty, and the index may trade within a range, hence traders are advised to follow, range bound trading strategies.

Bank Nifty Support and Resistance for Today

Green Lines are the Support Levels, and Red Lines are the Resistance Levels

Nifty Bank is currently at 47,545.45 taking support at 47,500 level after opening lower around 47,400, hence the nearest support for Bank Nifty is at 47,500followed by 47,400, 47,200, and 47,000 levels.

On the upper side, Nity Bank is facing resistance from the 47,700 level followed by 47,800, and 48,000 levels.

Here is the OI data and PCR of the Bank Nifty for today,

Note:- This Data is Provided via Sensibull and has many features if you are an Option Trader, and You access all the Pro Things for “FREE” by opening your Demat Account with Zerodha.

Bank Nifty is trading Sideways ahead of the monetary policy which is expected to remain unchanged, but anyway – be careful when you are trading options.

Looking for trade, we advise traders to avoid going for long-period trades, except you can practice other range-bound trading strategies, as the market may be sideways until the repo rate is announced on 5th April.

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.