Banknifty Key Levels for trading on 24 january 2023

NSE:BANKNIFTY   Nifty Bank Index
Banknifty Price Action Trading

Support Zones
Frist Support Level For Buying - 42675 - 42700
Second Support Level For Buying - 42340 - 42377
Third Support Level For Buying - 41920 - 41950

Resistance Zones
First Resistance Level For Selling - 42870 -42900
Second Resistance Level For Selling - 42900 -43140
Third Resistance Level For Selling - 43490 -43520

Importent Signal for Banknifty
Max Pain As per Option Chain Analysis – 42800
PCR ratio as per Option Chain Analysis – 0.94 ( Near to Bullish )
Major Support as Per Banknifty Open Interest Analysis – 42300
Major Resistance as Per Banknifty Open Interest Analysis – 43200

Conclusion -
Banknifty has not Decided any Trend From last Week
It is possible that it will move Towards Major Support Or Major Resistance
Try To Buy Future Conract or Call Option Near Support Zone and Book Profit At Rsistance Zone
Try to Short Banknifty at every Resistaance and Book Profit Near Support Zone
Expecting Big Moves in Near Budget 2023 Prepraion is Going on .
Gold Reaches Near 58,000


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