Amid global economic uncertainty, the Indian benchmark indices, the Nifty and the Sensex are back to their all-time highs. India has successfully avoided the tag of a ‘defaulter’ on its debt repayments unlike many other Asian economies such as Sri Lanka, Pakistan, and Afghanistan. This has been possible through careful dollar borrowings and by accumulating forex reserves to protect against potential debt crises. These are the things that make the Indian market ever-resilient.
India has a low vulnerability to debt default, which is an advantage for investment worthiness among other emerging countries.
BankNifty Spot View For: 09/12/2022
Cmp: 43596.85
Support & Downside Range: 43515—43332—43290 zone, 43180
Resistance & Upside Range: 43650—43750 zone, 43850—43965 zone, 44040—44161 zone
Short-Term Trend Reversal Level: -- 42948
Trading View: Intraday bias remains bullish till the bank index trading above 43515 spot levels a break below the 43515 bank index goes sideways to the cooling off zone and in that case it can fall downside till 43332—43290 minimum and max 43180 spot levels, downside now 4 2 9 4 8 spot level become trend reversal support, after opening if bank nifty unable to cross 43750 spot levels than it may start profit booking dip and in such case, it may try to fall towards 43515 or below levels after opening if 43750 gets a break and sustain above it then only intraday move gets extend towards 43850—43965 spot zone minimum.
Cmp: 43596.85
Support & Downside Range: 43515—43332—43290 zone, 43180
Resistance & Upside Range: 43650—43750 zone, 43850—43965 zone, 44040—44161 zone
Short-Term Trend Reversal Level: -- 42948
Trading View: Intraday bias remains bullish till the bank index trading above 43515 spot levels a break below the 43515 bank index goes sideways to the cooling off zone and in that case it can fall downside till 43332—43290 minimum and max 43180 spot levels, downside now 4 2 9 4 8 spot level become trend reversal support, after opening if bank nifty unable to cross 43750 spot levels than it may start profit booking dip and in such case, it may try to fall towards 43515 or below levels after opening if 43750 gets a break and sustain above it then only intraday move gets extend towards 43850—43965 spot zone minimum.
Make use of our BankNifty Support & Resistance Levels and be on the right side of the market.
The Volatility Index, India VIX, is at its lowest levels since September 2021 at 13.5, indicating that the volatility is gradually subsiding and providing comfort to the bulls. Lower VIX is leading to increased stability, which has led to broader market participation and offers a lot of opportunities to make money in stock-specific trading and investing.
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