Banknifty Analysis and Price Action Trading with Key Levels
Weekly Expiry on 02 Feb 2023 India Vix Closing – 14.65
Support Zones Frist Support Level For Buying - 41645 - 41690 Second Support Level For Buying - 41370 - 41400 Third Support Level For Buying - 40860 - 40890
Resistance Zones First Resistance Level For Selling - 41921 -41971 Second Resistance Level For Selling - 42340 -43380 Third Resistance Level For Selling - 42675 -42700
Importent Signal for Banknifty Max Pain As per Option Chain Analysis – 41800 PCR ratio as per Option Chain Analysis – 0.55 ( Bearish ) Major Support as Per Banknifty Open Interest Analysis – 41000 Major Resistance as Per Banknifty Open Interest Analysis – 41700
Conclusion - Banknifty Given Down Side Movement to monthly expiry mostly on Monthly expiry Market move donside As per Our Conclusion Banknifty moves towards its Major Support if This Support will break , then Next major Support for Banknifty will be 40860 - 40890 Try To Buy Future Conract or Call Option Near Support Zone and Pur Near Resistance Zone as well as Book Profit At Support & Rsistance Zone Try to Short Banknifty at every Resistaance and Book Profit Near Support Zone Expecting Big Moves in Near Budget 2023 Prepraion is Going on . Gold Future Contract Reaches Near All Time High
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