Banknifty Confirm Targets For Friday

2 Feb 2023

Banknifty key support and Resistance for Intraday trading 03 feb 2023

Banknifty Trading Setup For 02 Feb 2023
Weekly Expiry on 09 Feb 2023
India Vix Closing – 15.73


Support Zones
Frist Support Level For For Long Banknifty - 40175 - 40195
Second Support Level For Long Banknifty - 39685 - 39715
Third Support Level For Long Banknifty - 39200 - 39237

Resistance Zones
First Resistance Level For Short Banknifty - 41086 - 41057
Second Resistance Level For Short Banknifty - 41645 -41690
Third Resistance Level For Short Banknifty - 41920 -41970

Importent Signal for Banknifty Trading from Option Chain Data Analysis
Max Pain As per Option Chain Analysis –  40700
PCR ratio as per Option Chain Analysis –  0.80  ( Bearish )
Major Support as Per Banknifty Open Interest Analysis –  39700
Major Resistance  as Per Banknifty Open Interest Analysis –  41000

Conclusion For Next Trading  Days
Today Banknifty taken Supporton its  Major Support ( 39687 - 39885 ) and reverse
For tomorrow Major Resistance  Banknifty is  ( 41645 -41690 )
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 .