Banknifty - View & Intraday Levels for - 31 Jan 2023
Banknifty View and Support & Resistance Levels for Monday..
Expectation : Moderately BULLISH / Negative Sentiment. (Volatile to Slightly BULLISH)
Banknifty is Still BEARISH, However we can expect a Breakout retracement to test 41500 on or before the Budget. There after again Banknifty will take reversal towards BEARISH side. As we have budget on Wednesday better avoid holding any positions if you are option buyer / you can hedge.
Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone will become Support.
For Best entry, Wait for first 5m candle close. Go long when High breaks, take Short when low breaks. Keep SL high/low of the first 5m candle.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
Expectation : Moderately BULLISH / Negative Sentiment. (Volatile to Slightly BULLISH)
Banknifty is Still BEARISH, However we can expect a Breakout retracement to test 41500 on or before the Budget. There after again Banknifty will take reversal towards BEARISH side. As we have budget on Wednesday better avoid holding any positions if you are option buyer / you can hedge.
Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone will become Support.
For Best entry, Wait for first 5m candle close. Go long when High breaks, take Short when low breaks. Keep SL high/low of the first 5m candle.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
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