BANKNIFTY LEVELS 31ST OCTOBER 2023

Dear Friends,

Bank-Nifty Important Levels :

Last Traded Price- 43073

Immediate Resistance- 43063-43112

Immediate Support- 42874-42826

Target after Breaking Resistance:

Target 1: 43311-43358

Target 2: 43525-43578

Target after Breaking Support:

Target 1: 42675-42631

Target 2: 42499-42456

NOTE:

1: For the candle that has broken resistance or support, let it close before taking a trade. This way you can avoid traps and fake breakouts.

2: The price always tends to return to 20 EMA. Hence if the price is very far from 20 EMA, it may come back to the EMA rather than going further away from EMA.

3: Trade using 15 minutes, 5 minutes, or 3 minutes candles. The higher the time frame of the candle, the higher the accuracy. Do maintain a minimum 1:2 risk-reward ratio.

Hope the levels stand strong tomorrow.

Happy Trading !!

Only for Educational Purposes.