BANKNIFTY levels for 29th Wednesday ❗❗
Hii Traders 😊
Welcome to BANKNIFTY Futures and options analysis for 29th Wednesday
🛑 if we see day frame chart of BANKNIFTY we can clearly observe that today's candel which is covered nearly last 3 trading session
🛑 Their was huge selling pressure but buyers were try to pull the things back
🛑 If we see the Day volatility is about 1.3% means which is high and not tradable or suitable volatility for retail traders and fluctuated points is about 1062
🎯 Key levels to watch out for day trader
🛑 Major resistance zone for BankNifty is at 38350-38400 where at this point BankNifty tried to breakout level and
◽ If market breakout resistance then we can see Target of 38550
◽ If banknifty traded above these levels I'm sure that more shorts were get covered in 37500 CE and 37600 CE strikes
◽ Whenever until breakout that resistance level don't trade
◽Above 38150 will be momenum for buyers to control the market until then market will be weaker
◽ Stop loss will be 38150 if market traded below this level then banknifty will be weaker and might be fear can continue
🛑 Major support level for BankNifty
◽ Support level for nifty lies at 37300-37250
◽ Whenever until breakdown this level don't trade
◽Below the 37600 market will be weaker but it is indecisive
◽ if Market successfully breakdown this level then we can take a trade
◽ And we can see the Target 1 will be 37000
◽Target 2 will be 36850
◽ STOP loss will be 37400 where it acting as strong support and resistance
◽Use Target 1 as trailing Stoploss to achieve 2nd target I sure you will not gone loose money for market
🛑levels for banknifty futures will be also same
◽Go long on banknifty Futures if it breakout the resistance
◽ Don't short the market until below the 37600
◽Go short below the support level 37300
🛑 TRADESHOTS
◽ Resistance level for CE buyers /option buyers is at 38350-38400
◽ support zone to buy PUT / PE is at 37300-37250
◽ BankNifty will be weaker on intraday basis below the 37600
Thanks for reading 😊
I hope that it will help a lot and if I'm wrong kindly comment mine mistake surely I will correct it
If you like it do follow for more and give reputation which will boost mine confidence to do more.
have a nice day 😊
Welcome to BANKNIFTY Futures and options analysis for 29th Wednesday
🛑 if we see day frame chart of BANKNIFTY we can clearly observe that today's candel which is covered nearly last 3 trading session
🛑 Their was huge selling pressure but buyers were try to pull the things back
🛑 If we see the Day volatility is about 1.3% means which is high and not tradable or suitable volatility for retail traders and fluctuated points is about 1062
🎯 Key levels to watch out for day trader
🛑 Major resistance zone for BankNifty is at 38350-38400 where at this point BankNifty tried to breakout level and
◽ If market breakout resistance then we can see Target of 38550
◽ If banknifty traded above these levels I'm sure that more shorts were get covered in 37500 CE and 37600 CE strikes
◽ Whenever until breakout that resistance level don't trade
◽Above 38150 will be momenum for buyers to control the market until then market will be weaker
◽ Stop loss will be 38150 if market traded below this level then banknifty will be weaker and might be fear can continue
🛑 Major support level for BankNifty
◽ Support level for nifty lies at 37300-37250
◽ Whenever until breakdown this level don't trade
◽Below the 37600 market will be weaker but it is indecisive
◽ if Market successfully breakdown this level then we can take a trade
◽ And we can see the Target 1 will be 37000
◽Target 2 will be 36850
◽ STOP loss will be 37400 where it acting as strong support and resistance
◽Use Target 1 as trailing Stoploss to achieve 2nd target I sure you will not gone loose money for market
🛑levels for banknifty futures will be also same
◽Go long on banknifty Futures if it breakout the resistance
◽ Don't short the market until below the 37600
◽Go short below the support level 37300
🛑 TRADESHOTS
◽ Resistance level for CE buyers /option buyers is at 38350-38400
◽ support zone to buy PUT / PE is at 37300-37250
◽ BankNifty will be weaker on intraday basis below the 37600
Thanks for reading 😊
I hope that it will help a lot and if I'm wrong kindly comment mine mistake surely I will correct it
If you like it do follow for more and give reputation which will boost mine confidence to do more.
have a nice day 😊
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.