Importent Signal for Banknifty Trading 10 feb 2023

9 Feb 2023

Banknifty key support and Resistance for Intraday trading


Banknifty End of Day Study
Weekly Expiry on 16 Feb 2023
India Vix Closing – 13.04

Support Zones
Frist Support Level For For Long Banknifty - 41249 - 41286
Second Support Level For Long Banknifty - 40760 - 40800
Third Support Level For Long Banknifty - 40105 - 40150

Resistance Zones
First Resistance Level For Short Banknifty - 41645 -41690
Second Resistance Level For Short Banknifty - 41920 -41970
Third Resistance Level For Short Banknifty - 42675 -42700

Importent Signal for Banknifty Trading from Option Chain Data Analysis
Max Pain As per Option Chain Analysis – 41500
PCR ratio as per Option Chain Analysis – 0.99 ( Bearish )
Major Support as Per Banknifty Open Interest Analysis – 41000
Major Resistance as Per Banknifty Open Interest Analysis – 42000

Conlusion -
Bankifty is now in consolidation zone , not crossing Major Support or Support Resistance
Try to buy near Support Zone and Try to Short near resistance with small stoploss .

IMP NEWS IN STOCK MARKET USEABLE FOR TRADING

IRCTC Q3 profit jumps to ₹256 cr , declares interim dividend news by Mint
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TCS bags $700-million deal from UK insurance services provider news by Mint