Banknifty levels for intraday 29/August/23

NSE:BANKNIFTY   Nifty Bank Index
Good Morning Mates.
Yesterday We have seen Higher highs and highers low formation in Banknifty. Mates Banknifty jumped 263 points to 44494.65 and formed a bullish candlestick pattern on the daily charts. Guy's keep watching 44500 levels, Because if banknifty is going to give successfully breakout of 44500 levels then we can see Banknifty towards 44714/44944+ levels just today or may be till tomorrow. Apart from this we have support zone at 44300/44150 in downside. So today 44500 will make for break levels. So just keep an eye on this levels.

Important levels for Banknifty:-

Support zone 44300/44150
Resistance zone 44700/44900

Buy above 44554, if levels got sustained at least for 30 Mints.
Targets we can see in upside 44717/44944+
Keep stop loss at 44313

Sale below 44313, if levels got sustained at least for 30 Mints.
Targets we can see in downside 44131/43938
Keep stop loss at 44554

Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.

Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.

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After opening in gap up banknifty could not able to survive on upper levels. And came down towards 44500 levels it is now support levels for banknifty...

Chances are high we can see reversal from these levels..

So guy's i have a trade which already i have given with my premium members
Take bankfnifty 44500 ce now at 183
Keep stop loss at 119 Targets we can see in uside 229/252/285++

Go with less qty and follow strict stop loss in case if market goes against to our analysis..stop loss will save up.

Best Regards,
Rahul Pal
(Full Time Trader & Investor)

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