Banknifty expiry tradesetup for 17-08-2023

Banknifty important levels to watch are as follows

#Support: 43860
Sell below: 43860 only on 15 minute candle closure below the level.
Target 1: 43730
Target 2: 43600
Target 3: 43455



#Resistance: 43970
Buy Above: 43970 only on 15 minute candle closure Above the level.
Target 1: 44180
Target 2: 44410



#Demand Zone: 43700-44800 may act as a immediate buying zone, and price may bounce from the region marked in green on the chart.

#Supply Zone: 44160-44180 may act as an immediate selling zone, and price may reject from the region marked in red on the chart.


#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.

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Comment:

Almost achieved target 1 and bounced back from the demand Zone as explained in the idea description above.