Bank NIfty Intraday Levels for 05/Sep/2023

Sep 5, 2023

Good Morning Traders.

Banknifty maintained upward momentum for yet another session, rising 142 points to 44578, but formed a small bodied bearish candlestick pattern with a long lower shadow on the daily charts, indicating buying a lower levels. The immediate obstacle on the upside is at the 44600-44650 zone. A successful break of it would pave the way for the index to move towards 45000 levels, where a substantial amount of open interest exists on the call side, making it a key area to watch, he said. Overall guy's market is buy on dips. Any dips will be buying on dips.

Important levels for Banknifty:-

Support zone 44300-44200
Resistance zone 44650-44750

Buy above 44625, if levels sustains at least for 15 mints
Targets we can see for upside 44780/44938
Keep stop loss at 44459

Sale below 44459, if levels sustains at least for 15 mints.
Targets we can see in downside 44335/44158
Keep stop loss at 44625

Note:- 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.

Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's.
Thankyou