Banknifty Possible Trade for Friday

Banknifty Support and Resistance For Day Trading 17 feb 2023

Support Zones
Frist Support Level For For Long Banknifty - 41645 -41690
Second Support Level For Long Banknifty - 41240 - 41280
Third Support Level For Long Banknifty - 40760 - 40800

Resistance Zones
First Resistance Level For Short Banknifty - 41920 -41970
Second Resistance Level For Short Banknifty - 42235 -42275
Third Resistance Level For Short Banknifty - 42675 -42700

Importent Signal for Banknifty Trading from Option Chain Data Analysis
Max Pain As per Option Chain Analysis – 41700
PCR ratio as per Option Chain Analysis – 0.76 ( Bullish )
Major Support as Per Banknifty Open Interest Analysis – 40800
Major Resistance as Per Banknifty Open Interest Analysis – 42300

Conclusion For Next Trading Days
Bankifty is given Bulish Move Rejected From Budget Day High , If closes above Budget Day High ,then you can go long with Stoploss of budget day High
Try To Buy Future Conract or Call Option Near Support Zone and Book Profit At Rsistance Zone
Try to Short Banknifty at every Resistaance and Book Profit Near Support Zone
Adani Group issue is major concern for market for now .

Stock Market Confirm News
Edelweiss Mutual Fund raises stake in Yes Bank shares in Jan 2023
Govt cuts windfall tax on crude oil, ATF, export of diesel
Indian Railway Finance Corporation (IRFC) stock of Indian Railways fell 2 per cent , It is a Finance Providing Company for Indian Rail .