BANK NIFTY INTRADAY LEVELS FOR 28/07/2023

BUY ABOVE - 45800
SL - 45680
TARGETS - 45940,46100,46180

SELL BELOW - 45600
SL - 45690
TARGETS - 45460,45290,45100

Previous Day High - 46310
Previous Day Low - 45570


I am sharing BANK NIFTY levels this levels acts as important support & resistance for intraday. if you want to trade with this levels wait for 15 min Candle closing above that levels. You can trade with breakout and reversal both.

Based on price action major support & resistance's are here, the red lines acts as resistances, the green lines acts as supports. If the price breaks the support/resistance, it will move to the next support/resistance line. White lines indicates previous day high & low, high acts as a resistance & low acts as a support for next day.
Trendlines are also significant to price action. If the price is above/below the trendlines, can expect an UP/DOWN with aggressive move.

Please NOTE: this levels are for intraday trading only.

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Comment:

BANKNIFTY - In BANKNIFTY also FIBO levels are very important today because if BANKNIFTY continues to move upside after opening gap up, up to 0.618 levels sellers at the top will hold on to their trades after that they might exit so the market will be in confusion because no sellers on the top and no buyers at the bottom, if BANKNIFTY opens gap up and makes an upside move buyers might enter the market after trapping buyers BANKNIFTY can move downside so if BANKNIFTY faces resistance at 0.5% or at 0.618 levels of FIBO we can expect a reversal. in case BANKNIFTY opens gap up directly and comes down to test the PDL, then do not participate in the downside move, trapping the seller's market can make a good upside move because in the downside movement, many retail traders would prefer to take Put options so if the market reverses hitting their stop losses we can see upside rally in the market. even if BANKNIFTY comes to 45500 levels and reverses still we can consider taking Call option trade with Price Action confirmations.

Trade active:

Sell Side Trade activated after this 15 mints candle
with Evening Star Candlestick Pattern Indication

Comment:

Sell entry level - 45380
SL - 45470
Targets - 45290,45100,45800

Order cancelled:

Entry level not activated
that 15 mints candle closed above the entry level 45380