NiftyBank key levels for March 6, 2024

Stay ahead of the curve with our daily Bank Nifty key levels!
NiftyBank key levels for March 6, 2024

Overview:

Today's trading session presented significant opportunities within the Bank Nifty index and we executed the trades based on the levels published yesterday on tradingview and we were able to capture the fall of 180 points in BankNifty on March 5

Here are the key levels to watch for potential entry and exit points in BANKNIFTY

Resistance Levels:
- Refer the Red line on the chart

Support Levels:
- Refer the Green line on the chart


Trading Strategy:

- Long Position:
Consider initiating long positions near support levels only after reversal confirmation for potential upside movement.

- Short Position:
Consider initiating short positions near resistance levels only after reversal confirmation for potential downside movement.


Risk Management:
- Always use stop-loss orders to protect against adverse market movements.
- Consider position sizing based on risk tolerance and account equity.


Disclaimer:
These levels are provided for informational purposes only and should not be considered as financial advice. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions.

Thanks

Trade closed: target reached:

- We executed BankNifty CE option at 9:20 when SPOT touched our Dsitribution Level (Orange line)

- We exited at Resistance Level (red line) around 10:25

- Booked profit of 280 points in Banknifty CE