Banknifty - Weekly and Intraday analysis for 20 Feb 2023
Bank Nifty Coming Week - Average move is expected.
Trading Range between 41780 & 40683, Nifty looks still bullish but BNf shows weakness and we have strong support at 40700 level from here we can expect upmove in Banknifty.
If incase any weakness and closes below 40650, we would see 40500 & 40000 which will be tested.
Tomorrow (Monday) - BEARISH with Negative Sentiment.
If any gapup open and sustains above 41480 we can take BUY entry for targets 417769 / 42000, if any rejection trades below 41177 we can look for SELL entry for lower targets.
Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone will become Support.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
Trading Range between 41780 & 40683, Nifty looks still bullish but BNf shows weakness and we have strong support at 40700 level from here we can expect upmove in Banknifty.
If incase any weakness and closes below 40650, we would see 40500 & 40000 which will be tested.
Tomorrow (Monday) - BEARISH with Negative Sentiment.
If any gapup open and sustains above 41480 we can take BUY entry for targets 417769 / 42000, if any rejection trades below 41177 we can look for SELL entry for lower targets.
Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone will become Support.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
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