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Bank Nifty Prediction for Monday 11th March 2024

Bank Nifty is facing resistance from the 48,000 level but its still strong, but we need to wait for HDFC to join and lead the rally, so we see Bank Nifty to reach a new al-time high.

By:-Raaz Aryan
Mar 7, 2024 | 10:28 PM

Updated: Mar 10, 2024 @ 8:32 AM

Nifty Bank opened a little up above 48,000 today but wasn’t able to survive on the upper levels and fell immediately ending the day in red at 47,835.80 or -0.27% as Banks are seeing selling pressure as HDFC and ICICI are trading at their resistance levels.

Bank Nifty Prediction for Monday 11th March

Bank Nifty ended lower today as an index amid the Weekly Nifty expiry, but it is also facing resistance from the upper levels of 48,000 as it crossed it a day earlier but failed to trade over it.

Anyway, for today we think Bank Nifty to open flat as all of the Indian benchmark indices facing resistance from the upper levels and test the support level of 47,500 as the market is getting ready for the next bull run. But if it is able to break and sustain above 48,000 then we can see a rally in Bank Nifty to 48,500 and the previous all-time high level.

Bank Nifty Support and Resistance for Today

Here is the support and resistance levels for Bank Nifty Today,

Here is the OI data for Bank Nifty today,

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Bank Nifty Support

S1 – 47,700 (immediate Support, may not work properly)

S2 – 47,500 (Major Support)

S3 – 47,200

Bank Nifty Resistance

R1 – 48,000 (Current and important Resistance)

R2 – 48,200

R3 – 48,500

How to Trade in Bank Nifty Today

We are not providing any trade in Bank Nifty for today as we are also in a trade in Bank Nifty for Today, so we think our trade may influence our Trading prediction, and it may be wrong, so we will leave this for today.

But if possible, we will update any trading strategy after the market opens.

Happy Trading 🙂

Raaz Aryan

Raaz is a pro-investor, amateur trader, and avid learner with over 4 years of stock market experience in equity and derivatives segments. Currently, I am Pursuing a chartered accountant (CA) and am currently at the CA Intermediate Level. I have also cleared "NISM Series VIII Equity Derivatives" exam.