Bank NIfty OUtlook 4th August 2022

Bank Nifty Outlook 4/08/2022

1. US Markets rallied yesterday with DOW up by 1.29%, S&P 1.56% and Nasdaq up by 2.73%..

2. All Asian Markets are positive.

3. SGX Nifty up by 54 points suggesting Gap Up opening and Bank Nifty will gap up around 200 Plus points.

4. Today is the market to just remain on BUY , NO SELLING….

5. Daily Bank Nifty Range : 37900 to 38500.

   
Support    		    
Resistance   
   
37922   		    
38230   
   
37700   		    
38500   
   
   		    
38840   
   
   		    
39400   

6. Markets are in Bullish trend, and any dip should be used as opportunity.

7. Today being expiry day, markets can move one side in big way…

8. Important level to watch 38500. If Bank Nifty remains above this and sustains with volume, it can even touch 39000 also. So no call writing.

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