Bank Nifty Intraday Prediction for 21st October 2024, Monday

Bank Nifty Moved more than 1.5 percentage on Friday's Trading session to close at 52094 which is more than 800 points from the opening levels. This Major Big Move driven by the bank stocks ICICI and Axis Bank which moved more than 5 percentage even before publishing the quarterly results. So, Lets the Major Support and Resistance levels for Bank Nifty Indices to Trade on 21st October 2024, Monday.

Nifty closed at 24862 price level which is 104 points above or 0.42 percentage higher than previous closing day. Metal and Bank Sector performed well on last trading section which takes Sensex in positive by around 300 points to close at 81224 level which is 218 points than opening levels. ok 

Top Gainers in Nifty on Friday are Axis Bank, Wipro, Eicher Motors, ICICI Bank, Shriram Finance.Top losers in Nifty on Friday are Infosys, Britannia Industries, Nestle India, HUL and Asian Paints.

Banking and Metal sectors performance the best, which moves more than 1 percentage on last Trading section. Also, IT sector gives more than 1 percentage fall.On the other side, Small cap indices closed at Red and Midcap at green. 

Also Read our Previous Post on Nifty Intraday Prediction for 21 October 2024, Monday.

Bank Nifty Latest Chart Analysis for 21st October 2024, Monday

Hourly time frame of Bank Nifty

Above given Chart is Hourly time frame of Bank Nifty which is created on Trading view platform. Now lets the major support and resistance levels for Bank Nifty to Trade on Monday.

Bank Nifty closed Just below the major Resistance level of 52142 to 52206 price level. If Bank Nifty opens above these resistance level or if it can break and sustain above this level, it can Move towards 52350 and 52585.

But if Bank Nifty Opens below the mentioned resistance can take to the Major Support Level of 52030 to 51972. If it can sustain above this support levels can move in a range of 52030 to 52140 levels.

Finally, if Bank Nifty breaks the Support area mentioned above then it can fall further down towards 51800, 51600 and 51400 price Levels.

Final Thought's

So, we have seen the Major Support and Resistance levels for Bank Nifty Indices to Trade on Monday, 21 October 2024. In Each case how the Bank Nifty Reaction effects are clearly explained in this blog post. Mark the levels in your chart and wait for the levels to activate for take the entry or exit in Bank Nifty.

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Disclaimer: Trading involves risk, and past performance is not indicative of future results.Always conduct thorough research and consider consulting with a financial advisor before making any investment decisions. Trade responsibly.