Banknifty Important levels for 06-07-2023

Banknifty important intraday levels to watch,

#Support: 45000
Short below: 45000

#Resistance: 45256
Buy above: 45260

wait candle closing before initiating any trade, always use stoploss to protect your capital.



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Comentário:

Currently, banknifty looks weak. But, Safe traders do not short banknifty now as this is expiry. A short covering move may be possible in Banknifty in few hours. wait for it to take the direction and take entry only on decisive movement with strict SL.

Comentário:

As explained earlier, we were able to see a beautiful short covering move. High made 45386.

Comentário:

Now option buyers may take OTM call option only if banknifty manages to break day High and take expiry advantage.

else stay away from OTM options on call side.

Comentário:

Finally achieved first target ! As told you in the first half banknifty was weak but still was able to give a short covering move.