Intraday Outlook for Bank Nifty Futures tomorrow-22-08-23

"Intraday Outlook for Bank Nifty Futures tomorrow-22-08-23"

Banknifty Index:- Bank Nifty is currently in an oversold state and seems to be undergoing a consolidation phase, possibly to cover short positions. Before the market opens, we can calculate support levels and levels where false short covering might occur. Based on these calculations, we anticipate that Bank Nifty could open with little change and strive to stay above 44000 points. If it manages to hold above 44000, there's a chance it could move up to 44127 and 44216 levels.

However, there's a possibility of a false short covering scenario around 44216, which could lead to a reversal. But it's important to remain cautious if Bank Nifty falls below 43930, as this could trigger a decline towards 43788 levels.

Banknifty Fut:- we may see another range-bound session today. The range of Banknifty fut is 44389-43900. Wait for my broadcast message for entry and exit.

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Disclaimer:-I'm not a SEBI registered analyst. The chart is shared only for educational purposes.

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Intraday Outlook for Bank Nifty Futures tomorrow-22-08-23

"Intraday Outlook for Bank Nifty Futures tomorrow-22-08-23"

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