Banknifty key support and Resistance for Intraday trading
Banknifty End of Day Study Weekly Expiry on 16 Feb 2023 India Vix Closing – 13.04
Support Zones Frist Support Level For For Long Banknifty - 41249 - 41286 Second Support Level For Long Banknifty - 40760 - 40800 Third Support Level For Long Banknifty - 40105 - 40150
Resistance Zones First Resistance Level For Short Banknifty - 41645 -41690 Second Resistance Level For Short Banknifty - 41920 -41970 Third Resistance Level For Short Banknifty - 42675 -42700
Importent Signal for Banknifty Trading from Option Chain Data Analysis Max Pain As per Option Chain Analysis – 41500 PCR ratio as per Option Chain Analysis – 0.99 ( Bearish ) Major Support as Per Banknifty Open Interest Analysis – 41000 Major Resistance as Per Banknifty Open Interest Analysis – 42000
Conlusion - Bankifty is now in consolidation zone , not crossing Major Support or Support Resistance Try to buy near Support Zone and Try to Short near resistance with small stoploss .
IMP NEWS IN STOCK MARKET USEABLE FOR TRADING
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