Niftybank Price Action strategies

Banknifty Updated Support and Resistance on One Hour Chart Analysis



Support Zones
Frist Support Level For For Long Banknifty - 39450 - 39490
Second Support Level For Long Banknifty - 38975 - 39015
Third Support Level For Long Banknifty - 38700 - 38750

Resistance Zones
First Resistance Level For Short Banknifty - 39730 - 39770
Second Resistance Level For Short Banknifty - 40070 - 40120
Third Resistance Level For Short Banknifty - 40330 - 40365

Importent Signal for Banknifty Trading from Option Chain Data Analysis
Max Pain As per Option Chain Analysis –   40000  ( Banknifty Expiry Target )
PCR ratio as per Option Chain Analysis –    0.93  ( Bearish )
Major Support as Per Banknifty Open Interest Analysis –       39000
Major Resistance as Per Banknifty Open Interest Analysis –  40000