BankNifty Spot View For 02/11/2022
Ahead of US Fed meeting tonight on a rate hike, it is advised not to carry any positions whether it is stocks or index. You should always follow this ahead of any big events to avoid getting surprised.
Cmp: 41289.55
Support & Downside Range: 41106-- 40839-- 40600
Resistance & Upside Range: 41677 zone –41855
Short-Term Trend Reversal Level: -- 41000
Trading View: ahead of FOMC outcomes we are seeing not much strength coming from the banking sector and yesterday also saw a good opening by the banking index but eventually ends negative in today trading session key level to watch is 41677—41855 whenever the bank index goes near this zone it starts feeling selling pressure whereas downside key level to watch is 41106 as support break and sustain below it for 15 mins to 30 mins we may see a good intraday 200—400 points dip towards 40839 to 40600 spot zone, till its trading above 41106 bank index remains sideways to range bound and options writers keeps buys in eating premium of both calls and puts of 3rd Nov expiry.
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