BankNifty Conviction Idea 9 APR 2021

Good Morning All! SGX Nifty is hinting towards a negative or a gap down start for benchmark indices #nifty and #banknifty. After 2 days of positive movement, we are back to our usual which is downfall and downfall. Let's see what to expect from #banknifty today!

Preopen Point: 32600-32700

Support 1: 32500
Support 2: 32000

Resistance 1: 33000

If the level of 32500 is broken then a steep fall of 500 points is likely and #banknifty will retest 32000 level again. We can expect some recovery from 32000 levels but if it breaks 32000 level then a waterfall is on the cards.

Happy Investing :)
Team Investwise