BANKNIFTY LEVELS 03/03/2023
Updated
BANKNIFTY ANALYSIS WITH LOGIC :
1. If there's small gap or opens on a flat note price should retest the 40390 level. There after we can short our positions upto 40150 level.
2. If those trend continues and form strong bearish candle below 40150 level we will continue to short our positions till 39875 level
3. Or if the price sustains at support 40150 level forms bullish candle we can expect reversal upto 40390 level.
4. If there's huge gap up above 40390 level we can expect heavy volatile or range bound market in between 40645 - 40390 levels.
5. Try to maintain trailing stoploss as of now banknifty is slightly strong when compared to nifty.
ONLY FOR EDUCATION PURPOSE ONLY
HAVE A SAFE AND PROFITABLE DAY :)
1. If there's small gap or opens on a flat note price should retest the 40390 level. There after we can short our positions upto 40150 level.
2. If those trend continues and form strong bearish candle below 40150 level we will continue to short our positions till 39875 level
3. Or if the price sustains at support 40150 level forms bullish candle we can expect reversal upto 40390 level.
4. If there's huge gap up above 40390 level we can expect heavy volatile or range bound market in between 40645 - 40390 levels.
5. Try to maintain trailing stoploss as of now banknifty is slightly strong when compared to nifty.
ONLY FOR EDUCATION PURPOSE ONLY
HAVE A SAFE AND PROFITABLE DAY :)
Note
At 40950 level there will more chances of rejection. Be carefulNote
Banknifty @40950 Broken with strong bullish candleTrade active
Upto 41240 level you can take long positionsTrade closed: target reached
41240 level reachedNote
41455 another resistance level.
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