Banknifty Intraday Level 1 July
Hello Traders,
Following are my analysis:
Resistance Level :
1. Strong Resistance Zone exists at 35200-35300.
2. Strongest Resistance at 35000 .
3. Stronger Resistance at 35500.
* Increasing resistance above 35000.
Support Level :
1. 34500 is Strongest Support Level .
2. 34000 is a Strong Support.
3. 34600-700 is Good Support Zone .
Sideways Possibility:
More Sideways above 34500 to 34700 in first half, if market sustains below 34500
*Imp Note;
If we see a sideways market in first half as mentioned above, then in second half more possibility of Upward movement from 34500 levels to trap Call writer ..which we call short covering.
This is not Buy and Sell recommendation to any one.
This is for education purpose and a helping hand to learn trading in Market.
I hope you all like my analysis.
Please do share your thoughts into comment section.
Please give a like, it motivates me to do analysis and do share with your friends as well.
Following are my analysis:
Resistance Level :
1. Strong Resistance Zone exists at 35200-35300.
2. Strongest Resistance at 35000 .
3. Stronger Resistance at 35500.
* Increasing resistance above 35000.
Support Level :
1. 34500 is Strongest Support Level .
2. 34000 is a Strong Support.
3. 34600-700 is Good Support Zone .
Sideways Possibility:
More Sideways above 34500 to 34700 in first half, if market sustains below 34500
*Imp Note;
If we see a sideways market in first half as mentioned above, then in second half more possibility of Upward movement from 34500 levels to trap Call writer ..which we call short covering.
This is not Buy and Sell recommendation to any one.
This is for education purpose and a helping hand to learn trading in Market.
I hope you all like my analysis.
Please do share your thoughts into comment section.
Please give a like, it motivates me to do analysis and do share with your friends as well.
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