Banknifty Trading Setup For 31 january 2023
Weekly Expiry on 02 Feb 2023
India Vix Closing – 17.71
Support Zones
Frist Support Level For For Long Banknifty - 39885 - 39911
Second Support Level For Long Banknifty - 39687 - 39712
Third Support Level For Long Banknifty - 39207 - 39237
Resistance Zones
First Resistance Level For Short Banknifty - 40630 -40655
Second Resistance Level For Short Banknifty - 40860 -40890
Third Resistance Level For Short Banknifty - 41057 -41086
Fourth Resistance Level For Short Banknifty - 41645 -41690
Importent Signal for Banknifty
Max Pain As per Option Chain Analysis – 41100
PCR ratio as per Option Chain Analysis – 0.49 ( 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 taken Supporton its Major Support ( 39687 – 39885 ) and reverse
For tomorrow Major Resistance Banknifty is ( 41057 – 41086 )
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 .
Adani Group issue is major concern for market for now .
Weekly Expiry on 02 Feb 2023
India Vix Closing – 17.71
Support Zones
Frist Support Level For For Long Banknifty - 39885 - 39911
Second Support Level For Long Banknifty - 39687 - 39712
Third Support Level For Long Banknifty - 39207 - 39237
Resistance Zones
First Resistance Level For Short Banknifty - 40630 -40655
Second Resistance Level For Short Banknifty - 40860 -40890
Third Resistance Level For Short Banknifty - 41057 -41086
Fourth Resistance Level For Short Banknifty - 41645 -41690
Importent Signal for Banknifty
Max Pain As per Option Chain Analysis – 41100
PCR ratio as per Option Chain Analysis – 0.49 ( 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 taken Supporton its Major Support ( 39687 – 39885 ) and reverse
For tomorrow Major Resistance Banknifty is ( 41057 – 41086 )
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 .
Adani Group issue is major concern for market for now .
Major Resistance as Per Banknifty Open Interest Analysis - 41000