BankNifty Daily Levels Update For f&O Day Trading

Importent Signal for Banknifty Trading 13 feb 2023

Banknifty End of Day Study
Weekly Expiry on 16 Feb 2023
India Vix Closing – 12.74

Support Zones
Frist Support Level For For Long Banknifty - 40760 - 40800
Second Support Level For Long Banknifty - 40105 - 40150
Third Support Level For Long Banknifty - 39687 - 39712

Resistance Zones
First Resistance Level For Short Banknifty - 41920 -41970
Second Resistance Level For Short Banknifty - 42300 -42260
Third Resistance Level For Short Banknifty - 42675 -42700

Importent Signal for Banknifty Trading from Option Chain Data Analysis
Max Pain As per Option Chain Analysis – 41200
PCR ratio as per Option Chain Analysis – 0.84 ( Bearish )
Major Support as Per Banknifty Open Interest Analysis – 40800
Major Resistance as Per Banknifty Open Interest Analysis – 42000

Conlusion -
Bankifty is now in consolidation zone , not crossing Major Support or Support Resistance
Try to buy near Support Zone and Try to Short near resistance with small stoploss .