Banknifty expiry 13th July 2023

Bank Nifty is currently finding solid support at the levels of 44300 and 44,500, which suggests a favorable environment for an upward trend. Once it surpasses the crucial level of 45,000 within the current one-hour expiry, a fresh magnetic upswing is anticipated. Traders can consider playing the expiration by implementing a strangle strategy between 44,600 and 45,000. The formation of a bullish flag pattern indicates a potential breakout, which will confirm the uptrend only upon breaching the 45,000 mark. For options traders, a new wave of momentum is likely to materialize above 45,000, targeting levels around 45,200 and 45,500. On the downside, there is substantial support at 44,300 and 44,200. However, if these levels are breached, a sharp decline towards 43,600 is probable. Today's market initiation appears favorable for a strong and one-sided momentum.