TraderRahulPal

Bank Nifty Intraday levels 18/Sep/23

NSE:BANKNIFTY   NIFTY BANK
Good Morning Traders,
BankNifty stayed positive for 3rd straight day, rising half a percent of 231 points to 46232 and formed bullish candlestick pattern with minor upper shadow on the daily time frame, BANKNIFTY went closer to its record high on friday, but unable to give breakout. Guy's if i talk about weekly timeframe, still banknifty has formed long bullish candlestick pattern with above average volumes and gained 2.4 % in last week. Hence, the decisively close above all time high can push Banknifty towards 47500-48000 in coming months. Guy's keep in mind any big Dip in index can be buying, so please plan accordingly.

Important Levels For Banknifty:-

Support Zone 45500-45600
Resistance Zone 46300-46400

Buy above 46267, if levels sustains at least for 15 mints.
Targets we can see in upside 46380/46535
Keep stop loss at 46091

Sale below 45889, if levels sustains at least for 15 mints.
Targets we can see in downside 45745/45579
keep stop loss at 46091

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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Thankyou

Best Regards,
Rahul Pal
(Full Time Trader & Investor)

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