Banknifty - View & Intraday Levels for - 24 Jan 2023
Expectation : BEARISH / Trending Move
BULLISH View: (Only above 42974)
If any Gap open and sustains above 42852 we can expect 42951/43000 will be tested immediately there after if any strong rejection reversal towards Down side is possible.
Incase of Weakness at Supply zone we can expect sideways move between 42870 and 42974 then Rally will continue.
Alternate BEARISH view:
If 42700 / PDL compromises and closes below then Down fall is expected until 42525 - Target 1 will be tested. If this is also taken out sharp fall may expected till 42350.
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!!
BULLISH View: (Only above 42974)
If any Gap open and sustains above 42852 we can expect 42951/43000 will be tested immediately there after if any strong rejection reversal towards Down side is possible.
Incase of Weakness at Supply zone we can expect sideways move between 42870 and 42974 then Rally will continue.
Alternate BEARISH view:
If 42700 / PDL compromises and closes below then Down fall is expected until 42525 - Target 1 will be tested. If this is also taken out sharp fall may expected till 42350.
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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