Banknifty Tradesetup For 28-09-2023

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BankNifty important levels to watch are as follows

#Support: 44620

Sell below: 44620 only on 15 minute candle closure below the level.
Target 1: 44550
Target 2: 44430
Target 3: 44320

#Resistance: 44735

Buy Above: 44735 only on 15 minute candle closure Above the level.
Target 1: 44800
Target 2: 44925
Target 3: 45000

#Remember each level will act as a support and resistance individually so there is a probability of reversal on either side. Please do your own research before initiating any trade. Always keep stoploss in order to protect your capital.

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#Disclaimer: This is just a view and published here only for educational purpose, this should not be considered as a buy or sell signal. Trading in stock market may involve financial risk therefore, do your own research before taking any position.

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Target 1 achieved !

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as explained in the idea description each target may act as an individual support or resistance, So currently, 44550 is acting as a strong support. For agressive short entries wait for candle closing below 44550.

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and breakdown, Just look at the candle. this is what perfection. Follow us for more such insightful ideas. Do join us for Fully automated algo trading.

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Target 2 on downside has been achieved successfully.

Again, As explained in idea description, Target 2 is also acting as a support.

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Current scenario for banknifty. If banknifty manages to break 44425, we may witness huge downfall again.

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The chart says it all ...price moved as directioned marked on the chart.

Almost achieved third target too after break of support positioned at target level 2.

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Target 3 hit !!

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what do you guys think, why the price takes support and bounces back a little at each target even if the trend is negative ?

Hurry up, answer in comment section.

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