Banknifty confirm Targets with Pivot Levels 3012023

Banknifty Analysis and Price Action Trading with Key Levels

Weekly Expiry on 02 Feb 2023
India Vix Closing – 17.32

Support Zones
Frist Support Level For Buying - 40170 - 41194
Second Support Level For Buying - 39885 - 39911
Third Support Level For Buying - 39207 - 39237

Resistance Zones
First Resistance Level For Selling - 40860 -40890
Second Resistance Level For Selling - 41057 -41086
Third Resistance Level For Selling - 41645 -41690

Importent Signal for Banknifty
Max Pain As per Option Chain Analysis – 41500
PCR ratio as per Option Chain Analysis – 0.42 ( Bearish )
Major Support as Per Banknifty Open Interest Analysis – 41000
Major Resistance as Per Banknifty Open Interest Analysis – 39500

Conclusion For Monday and Next week
Today Banknifty Break its Major Support ( 41645 – 41690 ) and Close below it
Next Major Support For Banknifty is ( 39687 – 39712 )
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 Future Contract Near all time High .


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