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Bank Nifty Prediction for 4 December 2024
Nifty Bank opened higher, rising 1.13% led by PSU stocks and HDFC Bank. A breakout towards 53,000 is anticipated, supported by levels at 52,500 and 52,200.
Nifty Bank opened higher today and continued to trade higher for the day, rising 1.13% or 586 points led by mainly PSU Banking Stocks and Index Heavyweight HDFC Bank.
The Index rises over 1% today, rising above the 52,500 level led by the global market, where it tries to cross the upper trendline of the Ascending Triangle Pattern.
Bank Nifty Prediction for 4 December 2024
On the technical chart, Bank Nifty rises higher forming a Bullish Doji-like candle trying to break the resistance of 52,650 and it is somewhere successful at its close at the 52,695 level but this is not a proper breakout of the pattern.
So, the Market is likely to rise tomorrow followed by today’s pattern breakout toward the 53,000 level.
The nearby support for the Index is at the 52,500 level followed by 52,200 and 52,000 levels, whereas the nearby resistance for the Index stands at the 52,800 level followed by 53,000, and 53,500 levels.
What to Expect from Bank Nifty on 4 December 2024
So, Tomorrow, 4th December 2024, Bank Nifty is expected to give a breakout from the Ascending Triangle pattern and possibly rise towards the 53,000 level, but if it falls in the early trading session, then support at the 52,650 or 52,500 and then starts rising then it would lead the Index towards a rally.
Trading Level for Nifty: 22,200 – 22,500
Also Read:
Nifty Prediction for 11 March 2026
By: Raaz Aryan
Bank Nifty Support and Resistance for 4 December 2024
| Bank Nifty Support Levels | Bank Nifty Resistance Levels |
|---|---|
| 52,500 | 52,800 |
| 52,200 | 53,000 |
| 52,000 | 53,500 |
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 🙂
