BANKNIFTY ANALYSIS AND PREDICTIONS FOR 15 MARCH 2023

Mar 15, 2023

Today as we have seen Gap up opening of around 400 points around 39900 in bank nifty and then from there we are seeing a decline upto 39700. There is an resistance range between 39875 - 40000 and a strong support zone is in between 39750 - 39550

SCENARIO 1
If we see a breakout above 39875 or today's high we must NOT hurry and by we should wait till it crosses 40000 level with a strong 15 min candle then only we should buy.

SCENARIO 2
If we see a breakdown of today's low then we should sell below 39500 but with a small target of 100 points, with moving stoploss and if it further breaks 39400 then we can see 39000 levels todays

CONCLUDING ANALYSIS/b]
Today I can see a range bound market and range is between 39450 to 39850. Don't fall on a trap today be CAUTIOUS WHILE TRADING BANKNIFTY TODAY SPECIALLY IN OPTIONS.

Wait for a clear and decisive move above or below of the given levels.

✅ BANKNIFTY SUPPORT AND RESISTANCE LEVELS

SUPPORT ZONE - 39750 - 39550

SUPPORT 1 - 39597
SUPPORT 2 - 39426
SUPPORT 3 - 39142

RESISTANCE ZONE - 39875-40000

RESISTANCE 1 - 39866
RESISTANCE 2 - 40000

#BANKNIFTYOPTIONS TO WATCH
16 MARCH 39700 CE
16 MARCH 39600 PE


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