BANKNIFTY SUPPORT & RESISTANCE

20 Sep

BANKNIFTY is a popular index futures contract in India, tracking the performance of the banking sector. Here are some key levels to keep an eye on:

**Support Levels:**

1. 29,500 (strong support level)
2. 29,200 (medium support level)
3. 28,800 (minor support level)

**Resistance Levels:**

1. 30,300 (strong resistance level)
2. 30,500 (medium resistance level)
3. 31,000 (major resistance level)

**Key Levels:**

1. 30,000 (psychological barrier)
2. 29,000 (previous high and a significant level)
3. 28,000 (previous low and a key level to watch)

**Trading Range:**

BANKNIFTY has been trading in a range of 28,000-31,000 for some time now. A breakout above 31,000 could be bullish, while a breakdown below 28,000 could be bearish.

**Intraday Levels:**

1. 9:30 AM IST: 30,100
2. 11:30 AM IST: 30,200
3. 2:00 PM IST: 30,250