Global markets are trending higher and it appears that the USA market has scaled all the walls of fear. The USA market has closed higher consecutively for two days and thus we may see our Nifty and Bank Nifty also touching new heights soon. Today market is to open positively tracking the global cues.

 As expected, we had the much-awaited breakout in the markets, especially Bank Nifty. Today could be the day for Nifty as well. The best part is there is no let up in banking stocks and if Nifty participants Starr moving, it will be great for buyers. 

Personally, talks of recession are futile. There is no reason to discuss it so much. We have never seen so much discussion on something which may or may not happen. As we write, SgX is up by 85 points which is a positive sign. All dips are buying opportunities.

Nifty. Clear support is placed at 18250 and resistance at 18350 and 18425. Above 425, we should see All time high (ATH).

Bank Nifty Target for Tomorrow

BankNifty. All set for 43000 and beyond. If we cross 43100, we may even see 43500 in the coming days. Support is placed at 42700.

Do remember to bookmark our website and make it a habit to visit it daily to get a thorough analytical review of the Bank Nifty Target for Tomorrow to be prepared for the best and the worst scenario.

Fresh perspective for today in Bank Nifty

BankNifty Spot View For: 24/11/2022

Cmp: 42729.10

Support & Downside Range for today: 42556--42200—41918--41600

Resistance & Upside Range for today: 42860--42980

Short-Term Trend Reversal Level: -- 41000

Trading View: Intraday bias remains bullish till the bank index trading above 42556 spot levels break below bias goes sideways till 42200 and below 42200 bias turns bearish whereas upside till its trading above 42556 spot levels it can try to touch or cross 42860—42980 spot levels, on monthly and weekly expiry day 43000 will acts as a strong rest here.

Strongest Support	Strengthening Support	PCR	MaxPain	Strengthening Resistance	Strongest Resistance
42800	42800	1.24435	42800	42800	43000

So as per data, one can even take a strategy in Bank Nifty considering support as 42800 and resistance as 42800 for the day. If you want to enter into call options strategy then you should enter at opening and avoid entering after 10AM on this option because if prices fall abruptly then trader may not get good returns from his trade unless he waits for some time before entering into any new position at all times.

Bank Nifty Resistance for Tomorrow

The Bank Nifty Resistance for tomorrow is 43000. It's a level that has held for days, and it will likely continue to hold until there is a break of this level or a breakout above it.

If you want to know how high the Bank Nifty can go in the short term, keep an eye on its support level at 42500 because if we get any kind of uptrend then we could see it breaking out of this area and potentially going much higher than that!

Bank Nifty Support for Tomorrow

Support is the price level at which demand is thought to be strong enough to prevent the price from falling below that level.

Support can be based on fundamental data, such as earnings, or it can be based on technical factors like an oversold condition or a lack of volume in a stock.

The support level may not necessarily mean that buyers will come into action once they reach it; instead, they may wait for more favorable conditions before making any trades.

Bank Nifty Option Strategy for Tomorrow

The strategy we are going to talk about in this article is a simple one, but it can be very effective. It is based on the premise that Bank Nifty can move higher tomorrow and it is important that you have done your homework before taking any action.

The first thing you must do when using this strategy is to determine how much amount you will invest in your trade. If you are investing more than 1,0000 then it makes sense for yourself and others who are watching over your account should know what kind of exposure they have on their hands so that if something goes wrong with their positions they may not suffer too badly as opposed to someone who only invested Rs 2500. Options is an effective way of trading as you can even start trading with a small capital of Rs 2500 by going in for the out-of-the-money options.

What to do tomorrow in options trading

If you have done your research and know that the underlying Bank Nifty is going to go up tomorrow, then it would be wise for you to buy a call option for this stock. You can also sell put options in case if the bank nifty goes down tomorrow.

The best way to trade options is by selling cash-and-carry contracts which means buying an entire position at a fixed price and then selling short against it after some time period has passed.

Conclusion

Bank Nifty is expected to trade in the range of Rs. 42700-43000 for the whole day on Thursday and close with a huge gain. The Bank Nifty at current levels is trading above its key support level, which could act as a catalyst for short covering rallies from hereon. The shorters have to run for the cover which will propel Nifty on the higher side. Do remember to recheck our website for Bank Nifty Target for Tomorrow and make money as you can draw the given levels in form of alerts on the chart and trade as and when those alerts are breached on the higher or the lower side.