Bank nifty intraday levels 21/Sep/2023

Sep 21, 2023

Good Morning everyone,

Bank nifty, had opened in gap down in yesterday session, and after that it remained under pressure throughout the session, impacted by HDFC bank. Banknifty felled almost 595 points, and formed a bearish candlestick pattern with a long upper shadow and minor lower shadow on the daily charts. Banknifty breached the key support levels of 46000, which has now turned into a resistance level on the upside. Market cues indicating a gap down opening in market, let's see if Nifty and Banknifty sustaining below.

Important levels for Banknifty:-

Support zone 45200-45300
Resistance zone 45700-45800

Buy above 45450, if levels sustains at least for 15 mints.
Targets we can see above 45585/45732
Keep stop loss at 45252

Sale below 45252, if levels sustains at least for 15 mints.
Targets we can see in downside 45086/44947
Keep stop loss at 45450

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.

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