OPEN-SOURCE SCRIPT

KATIK BankNifty Upside/Downside Levels

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The KATIK BankNifty Upside/Downside Levels (BNUDL) indicator plots key daily reference levels for BankNifty based on its opening price. Using a predefined daily move percentage, it calculates potential upside and downside levels from the open. The script displays:

Up Level (Green): Potential bullish threshold above the open

Down Level (Red): Potential bearish threshold below the open

Open Price (Blue Circles): Daily BankNifty opening level

This tool helps traders quickly identify intraday directional bias and potential support/resistance zones around the opening price.

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