Banknifty key support and Resistance for Intraday trading
Banknifty End of Day Study
Weekly Expiry on 16 Feb 2023
India Vix Closing – 13.04
Support Zones
Frist Support Level For For Long Banknifty - 41249 - 41286
Second Support Level For Long Banknifty - 40760 - 40800
Third Support Level For Long Banknifty - 40105 - 40150
Resistance Zones
First Resistance Level For Short Banknifty - 41645 -41690
Second Resistance Level For Short Banknifty - 41920 -41970
Third Resistance Level For Short Banknifty - 42675 -42700
Importent Signal for Banknifty Trading from Option Chain Data Analysis
Max Pain As per Option Chain Analysis – 41500
PCR ratio as per Option Chain Analysis – 0.99 ( Bearish )
Major Support as Per Banknifty Open Interest Analysis – 41000
Major Resistance as Per Banknifty Open Interest Analysis – 42000
Conlusion -
Bankifty is now in consolidation zone , not crossing Major Support or Support Resistance
Try to buy near Support Zone and Try to Short near resistance with small stoploss .
IMP NEWS IN STOCK MARKET USEABLE FOR TRADING
IRCTC Q3 profit jumps to ₹256 cr , declares interim dividend news by Mint
Adani stocks crack up to 15% as MSCI fear triggers another round of sell-off news by The Economic Times
TCS bags $700-million deal from UK insurance services provider news by Mint
Banknifty End of Day Study
Weekly Expiry on 16 Feb 2023
India Vix Closing – 13.04
Support Zones
Frist Support Level For For Long Banknifty - 41249 - 41286
Second Support Level For Long Banknifty - 40760 - 40800
Third Support Level For Long Banknifty - 40105 - 40150
Resistance Zones
First Resistance Level For Short Banknifty - 41645 -41690
Second Resistance Level For Short Banknifty - 41920 -41970
Third Resistance Level For Short Banknifty - 42675 -42700
Importent Signal for Banknifty Trading from Option Chain Data Analysis
Max Pain As per Option Chain Analysis – 41500
PCR ratio as per Option Chain Analysis – 0.99 ( Bearish )
Major Support as Per Banknifty Open Interest Analysis – 41000
Major Resistance as Per Banknifty Open Interest Analysis – 42000
Conlusion -
Bankifty is now in consolidation zone , not crossing Major Support or Support Resistance
Try to buy near Support Zone and Try to Short near resistance with small stoploss .
IMP NEWS IN STOCK MARKET USEABLE FOR TRADING
IRCTC Q3 profit jumps to ₹256 cr , declares interim dividend news by Mint
Adani stocks crack up to 15% as MSCI fear triggers another round of sell-off news by The Economic Times
TCS bags $700-million deal from UK insurance services provider news by Mint