BANK NIFTY INTRADAY LEVELS FOR 31/07/2023

30 de jul. de 2023BUY ABOVE - 45600
SL - 45480
TARGETS - 45800,45940,46100

SELL BELOW - 45290
SL - 45380
TARGETS - 45100,44920,44800

Previous Day High - 45730
Previous Day Low - 45240

I am sharing BANK NIFTY levels this levels acts as important support & resistance for intraday. if you want to trade with this levels wait for 15 min Candle closing above that levels. You can trade with breakout and reversal both.

Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.

Please NOTE: this levels are for intraday trading only.

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31 de jul. de 2023

Comentário

BANKNIFTY also might open gap up so if BANKNIFTY opens gap up near 45850 levels and move towards the upside BANKNIFTY might reverse because sellers at the resistance levels will exit so to hunt the buyers stop losses market can make a downside movement, and the range for is less towards the upside compared to the downside, BANKNIFTY has a good space to make a downside movement, so from the resistance levels if BANKNIFTY reverses forming a bearish sentiment we can plan for a Put option trade. If BANKNIFTY opens flat and just trades in the range that we marked no trades are to be planned in this case we need to wait until 10 am for the movement to happen in the market. if BANKNIFTY opens gap down and breaks the support levels many retail traders will enter the market so the market can reverse after a breakdown, after hunting stop losses of retail traders if BANKNIFTY again shows a bearish sentiment we can think for a Put option trades.

31 de jul. de 2023

Comentário

and one more thing is if BANKNIFTY opens gap up and moves toward the upside many retail traders will be expecting a downside move from the all-time high resistance so BANKNIFTY might not test the resistance before the resistance level itself BANKNIFTY can reverse. in case BANKNIFTY breaks all-time levels and moves towards the upside because there will be no stop loss hunting levels in the market after a movement we have to decide to take a Put option or a Call option trade.