BANKNIFTY levels for Wednesday ❗❗

Hii Traders 😊 ,

Welcome to BANKNIFTY Futures and options
and optionchain data analysis for friday

◽ Banknifty weekly pivot is at 37500

◽And monthly pivot is at 37326 ,( intraday levels were explained below I hope that it will help a lot , do like ,share , follow for more ... )

🛑 if we see day frame chart of BANKNIFTY currnetly trading above 21Day , 50 Day , 100 Day moving averages


🛑 Taking support at 21Day MA

🛑 BANKNIFTY Forming Bullish candle on daily frame


🎯 Key levels to watch out for day trader

🛑 Major resistance zone for BankNifty is at 37950-38050 ( if see the option chain data on call 38000 CE strike holding more number for short position which will act as strong resistance area to bank Nifty )

◽ If market breakout resistance then we can see Target of 38300

◽ Whenever until breakout that resistance level don't trade

◽ Stop loss will be 37850

◽If gap down or slight gap up happens then 37900 will be resistance zone


🛑 Major support level for BankNifty

◽ Support level for nifty lies at 37400-37350 (in option chain data at 35000 PE strike holding more shorts position now it maybe act as support zone)

◽ Whenever until breakdown this level don't take a trade

◽ if Market successfully breakdown this level then we can take a trade

◽ And we can see the Target 1 will be 37100

◽STOP loss will be 37500

◽ Market will be indecisive between 37350-37900


🛑levels for banknifty futures will be also same

◽Go long on banknifty Futures if it breakout the resistance ie . 38050-38100

◽ Don't short the market until below the 37500

Don't take a trade if market open above or below our levels bcz market don't like gaps let the market to consolidate first and then take a trade

🛑 TRADESHOTS

◽ Resistance level for CE buyers /option buyers is at 37950-38050

◽ support zone to buy PUT / PE is at 37400-37350

◽ BankNifty will be weaker below the 37500

◽ Banknifty weekly pivot is at 37500

◽And monthly pivot is at 37328


Thanks for reading 😊

I hope that it will help a lot and if I'm wrong kindly comment mine mistake surely I will correct it

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have a nice day 😊