bankNifty Option Trading Strategy for Day Trader 2023

Banknifty Support and Resistance Updated on One Hour Chart Analysis

Support Zones
Frist Support Level For For Long Banknifty - 38755 - 38810
Second Support Level For Long Banknifty - 38300 - 38330
Third Support Level For Long Banknifty - 37940 - 37970

Resistance Zones
First Resistance Level For Short Banknifty - 39180 - 39220
Second Resistance Level For Short Banknifty - 39700 - 39750
Third Resistance Level For Short Banknifty - 40040 - 40075

Importent Signal for Banknifty Trading from Option Chain Data Analysis
Max Pain As per Option Chain Analysis – 39200
PCR ratio as per Option Chain Analysis – 0.91( Bearish)
Major Support as Per Banknifty Open Interest Analysis – 38200
Major Resistance as Per Banknifty Open Interest Analysis – 39700