Nifty And Bank Nifty Prediction For Monday 4 March 2024 (2024)

Both Nifty and Bank Nifty indexes are trading in positive zone, so if you are holding long positions in them then you can hold them continuously. To know our support and resistance levels for Monday, read on: Nifty And Bank Nifty Prediction For Monday 4 March 2024

Bank Nifty Prediction

The chart below is in 15 Minutes Time Frame

• If Bank Nifty Opens Flat

After flat opening, the immediate resistance level for Bank Nifty is 47,450 and the immediate support level is 47,000, So if Bank Nifty opens flat on Monday then we will consider it positive.

If it breaks 47,450 on the upside after opening flat, then we can initiate fresh long positions in it and plan our targets much bigger.
Because there is a pending gap of 1,000 points in Bank Nifty on the upside, if the market moves upwards then it can fill this gap very fast.

Currently, at the level at which Bank Nifty is trading, we cannot initiate any sell position because after such a big upside moment, we will only plan for trend continuation.
No sell side scenario visible here

Flat opening range: 47,200 – 47,350 ( Will Consider this a Flat )

• If Bank Nifty Opens Gap Up

If Bank Nifty opens 100-150 point gap up on Monday then we will consider it on positive side and as soon as it breaks 47,450 on upside we will initiate long position in it and plan bigger targets.

But if Bank Nifty opens a big gap up like 400-500 points then some confusion will be created due to which we will have to face difficulty in doing intraday trade.

So after such a big gap up, we will wait a bit and let the market form the price action first and then when it continues upward then we will make a trade plan.

Like, after such a big gap up, we will wait for the market to take a slight correction, come down and consolidate around 47,500 for some time and after that when it continues up, we can initiate fresh long positions.

Gap Up opening range: 47,600-47,700 ( Will consider this a big gap up )

• If Bank Nifty Opens Gap Down

If Bank Nifty gap down opens on Monday then we will not plan any trade in it because it has an upside moment of 1,000 points which is quite big.

And after that, if this gap down opens on Monday, then in such a situation we will see the inside bar and the market will not do any side moment, it will only close itself somewhere in the middle of this range.

And we will not make any trade plan then we will just wait and watch on Monday

Gap Down Opening Range: 46,900-46,800 ( Will Consider this a big gap down )

Support / Resistance

Nifty Prediction For Monday, 4 March 2024

The chart below is in 15 Minutes Time Frame

• If Nifty Opens Flat

If Nifty opens flat tomorrow then the immediate resistance level will be 22,440 and the immediate support level will be 22,300.

After flat open, we will consider Nifty positive and when it breaks 22,440 on the upside, we will initiate long positions in it. Nifty is trading at its all time high, so from here we can see very good targets after the breakout on the upside.

On the upside, the first hurdle for Nifty is at 22,500, so if Nifty is able to break it then it will show bigger targets on the upside.

Flat opening range: 22,320-22,440 ( Will Consider this a Flat)

• If Nifty Opens Gap Up

If tomorrow Nifty opens 50-60 point gap up then we will initiate long position in it but with price action.

But if Nifty opens 150-200 point gap up then in such case we will not make any aggressive trade plan

So after such a big gap up, we will wait a bit and let the market form the price action first and then when it continues upward then we will make a trade plan.

Like, after such a big gap up, we will wait for the market to take a slight correction, come down and consolidate around 22,500 for some time and after that when it continues up, we can initiate fresh long positions.

Gap Up opening range: 22,550-22,600 ( Will consider this a big gap up )

• If Nifty Opens Gap Down

The overall scenario of Nifty is positive so if it opens gap down on Monday then in such a case we will not make any trade plan, we will just wait and watch.
Because after opening the gap down, Nifty will again remain in this range and we will plan for inside bar.

Gap Down Opening Range: 22,150-22,100 ( Will Consider this a big gap down )

Support / Resistance

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