Good Morning Traders, I hope you are doing good in your trading and your life as well.
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Okay now we will start our analysis.
Banknifty is trading in kind of bullish flag pattern, but that is not exactly bullish flag pattern, but if we will see breakout this pattern we can see some momentum for upside, which can take this banknifty towards in the zone of 46230 and 46375 levels. But we need safe entry, which i already marked on chart, i will write it down also. i written on chart about resistance in upper zone (Well Guy's there is resistance for banknifty in the zone of 46231-46350, in case if we see any price rejection on top and we see any kind of bearish pattern like Inverted Hammer. So we can sale also with the stop loss of 46487).
Banknifty Important Levels for today:-
Buy above 46231, if levels got sustain at least for 30 mints.
Targets we can see in upside 46364/46487+
Keep stop loss at 46000
Sale below 46000, if levels got sustain at least for 30 mints.
Target we can see in downside 45806/45662/45504
Keep stop loss at 46231
Always wait for the best entry or levels to execute trades. And always follow strict stop loss to save your capital from unexpected market direction.
Note:- For Banknifty Hero Zero trade will be in 2nd half according to price action, we will analyse market and then we will update in comment box. Please make sure you have followed us, so you will be notified on right time, when we update this idea.
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
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