BANKNIFTY Levels for monthly expirey ❗

Hii Traders 😊

Welcome to BANKNIFTY Futures and options analysis for 30th Thursday

🛑 if we see day frame chart of BANKNIFTY it is trading above all moving averages ie. 21 Day , 50 Day , 100 Day

🛑 Their was huge gap down as I repeatedly telling that market don't like gaps so don't try to catch huge gap down or it may be gap up let the market to consolidate first then only take trades



🎯 Key levels to watch out for day trader

🛑 Major resistance zone for BankNifty is at 38050-38150
◽ If market breakout resistance then we can see Target of 38300


◽ Whenever until breakout that resistance level don't trade

◽Above 37850 will be momentum for buyers to control the market until then market will be weaker one intraday basis

◽ Stop loss will be 38000


🛑 Major support level for BankNifty

◽ Support level for nifty lies at 37300-37250

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

◽Below the 37900 market will be weaker but it is indecisive

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

◽ And we can see the Target 1 will be 37000

◽Target 2 will be 36850

◽STOP loss will be 37400

◽Use Target 1 as trailing Stoploss to achieve 2nd target I sure you will not gone loose money for market


🛑levels for banknifty futures will be also same

◽Go long on banknifty Futures if it breakout the resistance

◽ Don't short the market until below the 37300

◽More shorter's were active when Banknifty traded below 37300-37250 zone

🛑 TRADESHOTS

◽ Resistance level for CE buyers /option buyers is at 38050-38150
◽ support zone to buy PUT / PE is at 37300-37250
◽ BankNifty will be weaker on intraday basis below the 37900

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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