Today as we have seen Gap up opening of around 400 points around 39900 in bank nifty and then from there we are seeing a decline upto 39700. There is an resistance range between 39875 - 40000 and a strong support zone is in between 39750 - 39550
SCENARIO 1
If we see a breakout above 39875 or today's high we must NOT hurry and by we should wait till it crosses 40000 level with a strong 15 min candle then only we should buy.
SCENARIO 2
If we see a breakdown of today's low then we should sell below 39500 but with a small target of 100 points, with moving stoploss and if it further breaks 39400 then we can see 39000 levels todays
CONCLUDING ANALYSIS/b]
Today I can see a range bound market and range is between 39450 to 39850. Don't fall on a trap today be CAUTIOUS WHILE TRADING BANKNIFTY TODAY SPECIALLY IN OPTIONS.
Wait for a clear and decisive move above or below of the given levels.
✅ BANKNIFTY SUPPORT AND RESISTANCE LEVELS
SUPPORT ZONE - 39750 - 39550
SUPPORT 1 - 39597
SUPPORT 2 - 39426
SUPPORT 3 - 39142
RESISTANCE ZONE - 39875-40000
RESISTANCE 1 - 39866
RESISTANCE 2 - 40000
#BANKNIFTYOPTIONS TO WATCH
16 MARCH 39700 CE
16 MARCH 39600 PE
#tradenxt
#bankniftyanalysis
#bankniftylivetrading
#livetrading
#stockmarketanalysis
#stockmarketanalysis16march2023
#IntradayTrading
#IntradayCalls
#BankniftyPredictions
#StockMarketPredictions
#bankniftytomorrowprediction
#niftyanalysis
#niftypredictions
#bankniftyoptions
#niftyoptions
#banknifty39700ce
#banknifty39600pe
SCENARIO 1
If we see a breakout above 39875 or today's high we must NOT hurry and by we should wait till it crosses 40000 level with a strong 15 min candle then only we should buy.
SCENARIO 2
If we see a breakdown of today's low then we should sell below 39500 but with a small target of 100 points, with moving stoploss and if it further breaks 39400 then we can see 39000 levels todays
CONCLUDING ANALYSIS/b]
Today I can see a range bound market and range is between 39450 to 39850. Don't fall on a trap today be CAUTIOUS WHILE TRADING BANKNIFTY TODAY SPECIALLY IN OPTIONS.
Wait for a clear and decisive move above or below of the given levels.
✅ BANKNIFTY SUPPORT AND RESISTANCE LEVELS
SUPPORT ZONE - 39750 - 39550
SUPPORT 1 - 39597
SUPPORT 2 - 39426
SUPPORT 3 - 39142
RESISTANCE ZONE - 39875-40000
RESISTANCE 1 - 39866
RESISTANCE 2 - 40000
#BANKNIFTYOPTIONS TO WATCH
16 MARCH 39700 CE
16 MARCH 39600 PE
#tradenxt
#bankniftyanalysis
#bankniftylivetrading
#livetrading
#stockmarketanalysis
#stockmarketanalysis16march2023
#IntradayTrading
#IntradayCalls
#BankniftyPredictions
#StockMarketPredictions
#bankniftytomorrowprediction
#niftyanalysis
#niftypredictions
#bankniftyoptions
#niftyoptions
#banknifty39700ce
#banknifty39600pe