Banknifty Important levels for 06-07-2023

Jul 6, 2023

Banknifty important intraday levels to watch,

#Support: 45000
Short below: 45000

#Resistance: 45256
Buy above: 45260

wait candle closing before initiating any trade, always use stoploss to protect your capital.



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Jul 6, 2023

Note

Currently, banknifty looks weak. But, Safe traders do not short banknifty now as this is expiry. A short covering move may be possible in Banknifty in few hours. wait for it to take the direction and take entry only on decisive movement with strict SL.

Jul 6, 2023

Note

As explained earlier, we were able to see a beautiful short covering move. High made 45386.

Jul 6, 2023

Note

Now option buyers may take OTM call option only if banknifty manages to break day High and take expiry advantage.

else stay away from OTM options on call side.

Jul 6, 2023

Note

Finally achieved first target ! As told you in the first half banknifty was weak but still was able to give a short covering move.