BANKNIFTY analysis for Monday ❗❗

Hii Traders 😊 ,

Welcome to BANKNIFTY Futures and options analysis for friday

◽ Banknifty weekly pivot is at 37493

◽And monthly pivot is at 37328 briefly explained below I hope that it will help you, do like ,share , follow for more ...

🛑 if we see day frame chart of BANKNIFTY currnetly trading above 50 Day , 100 Day moving averages

🛑 Taking support at 21Day MA and good thing is closed above the 21DMA




🎯 Key levels to watch out for day trader

🛑 Major resistance zone for BankNifty is at 37550-37650

◽ If market breakout resistance then we can see Target of 37900

◽ Whenever until breakout that resistance level don't trade

◽ Stop loss will be 37450


🛑 Major support level for BankNifty

◽ Support level for nifty lies at 36950-36850

◽ Whenever until breakdown this level don't take a trade

◽ if Market successfully breakdown this level then we can take a trade

◽ And we can see the Target 1 will be 36650

◽STOP loss will be 37050

◽ Market will be indecisive between 37700-36900


🛑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 37000

Don't take a trade if market open above or below our levels bcz market don't like gaps let the market to consolidate first and then take a trade

🛑 TRADESHOTS

◽ Resistance level for CE buyers /option buyers is at 37550-37650
◽ support zone to buy PUT / PE is at 36850-37950
◽ BankNifty will be weaker below the 37300

◽ Banknifty weekly pivot is at 37493
◽And monthly pivot is at 37328
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