Bullish Banknifty || Intraday levels for 31/07/23

NSE:BANKNIFTY   Nifty Bank Index
Good Morning Guy's, i hope you all will be doing good in your trading career.
So guy's i have done my analysis on banknifty levels for today. So let's start.

In last two session banknifty and nifty and some other indices has given downside rally like anything. But now they all have come at support zone, Banknifty had taken support in the zone of 45227 to 45311 in last trading session, and this was the support zone as previously price also had taken u turn from same area, I think banknifty will respect this area for today's trading session and then we will see some upside towards 46k again.
Indicator like, MACD, RSI divergence and 200 EMA, Started giving bullish signal. So chances are high we can see a small bullish rally for upside in today's trading session.

Important levels for banknifty:-

Buy above 45518, if levels got sustained at least for 30 mints.
Target we can see in upside 45654/45844/45911
Keep stop loss at 45241
Note:- Guy's Banknifty have a strong support zone in between 45227 to 45311, So If Banknifty go down and take support and make kind of any bullish pattern then definitely grab it, and keep stop loss at 45075. Chances are high that W pattern or inverted head and shoulder pattern we can see, at support zone.

Sale below 45241, if levels got sustained at least for 30 mints.
Target we can in downside 45083/44961
Keep stop loss at 45518.

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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guy's i have a option trade:-
Buy banknifty 3rd august 45600 ce now at 231
keep stop loss at 143
Targets we can see 278/299/331/366++
First target done guy's in spot price, made high 45658
1st target was 45654
our option trade also has done first target,, made high 279
our first target was 278 and buying price was 231.
Please book accordingly
And now use trailing stop loss to book profits on higher range.
But here is a small resistance zone
if this will break for above then we will meet our 2nd and 3rd target soon.
Okay guy's done for the day. Hope everyone have made good profits.
enjoy profits with your loved ones.
our option trade have made high 288 and our buying price was 231.. we have gain 57 option points, which is enough.
Okay guy's thankyou very much for your love and support.
Keep liking and follow us. thankyou

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

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