Banknifty View for Monday 05.12.2022
Short term BEARISH view in Banknifty is expected and tomorrow Likely to Open Flat/Small Gap up, any breakout above 43200 Target 1 will be tested and 43360-43400 zone will act as Strong Resistance. Probably we can expect reversal. Incase of any weakness closes below 42997, Target1 and 2 on the lower side will be tested.
At Buyers zone we can look for BUY entry and SELL entry at Sellers area.
Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone will become Support.
For Best entry, Wait for first 5m candle close. Go long when High breaks, take Short when low breaks. Keep SL high/low of the first 5m candle.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
Short term BEARISH view in Banknifty is expected and tomorrow Likely to Open Flat/Small Gap up, any breakout above 43200 Target 1 will be tested and 43360-43400 zone will act as Strong Resistance. Probably we can expect reversal. Incase of any weakness closes below 42997, Target1 and 2 on the lower side will be tested.
At Buyers zone we can look for BUY entry and SELL entry at Sellers area.
Buyers and Sellers Zones - When price breaks the zone, Buyers zone will become Resistance and Sellers zone will become Support.
For Best entry, Wait for first 5m candle close. Go long when High breaks, take Short when low breaks. Keep SL high/low of the first 5m candle.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
