Bank NIfty Intraday Levels for 05/Sep/2023

5 Sep 2023

Good Morning Traders.

Banknifty maintained upward momentum for yet another session, rising 142 points to 44578, but formed a small bodied bearish candlestick pattern with a long lower shadow on the daily charts, indicating buying a lower levels. The immediate obstacle on the upside is at the 44600-44650 zone. A successful break of it would pave the way for the index to move towards 45000 levels, where a substantial amount of open interest exists on the call side, making it a key area to watch, he said. Overall guy's market is buy on dips. Any dips will be buying on dips.

Important levels for Banknifty:-

Support zone 44300-44200
Resistance zone 44650-44750

Buy above 44625, if levels sustains at least for 15 mints
Targets we can see for upside 44780/44938
Keep stop loss at 44459

Sale below 44459, if levels sustains at least for 15 mints.
Targets we can see in downside 44335/44158
Keep stop loss at 44625

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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