Bullish Bank Nifty Intraday levels 12/Sep/2023Good Morning Everyone,
First of all congratulation to everyone for milestone done By India (Bharat). NIfty made all time high and touched 20k levels. Now it's Banknifty turn to do some fireworks from here, Well guy's banknifty also has done well yesterday,, i mean buyers has dominated the market. The index saw a strong positive opening and closed at 45571, the highest closing level since August 1, rising 414 points. It has formed a bullish candlestick pattern on the daily timeframe, making higher tops and higher bottoms for the third straight session.
The next significant resistance level for the index is at 46000, where a substantial amount of Call writing is evident. On the downside, the key support level has shifted to 45000, where the highest open interest built up on the Put side.
Important levels for Banknifty:-
Support zone 45500-45375
Resistance zone 45725-45850
Buy above 45761, if levels sustains at least for 15 mints.
Targets we can see in upside 45969/46170/All time high 46370+
Keep stop loss at 45363
Sale below 45363, if levels sustains at least for 15 mints.
Targets we can see in downside 45189/44963
keep stop loss at 45761
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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