Banknifty Intraday View for 9th Jan

6 Oca 2023

1) Banknifty didn't sustain above support level and the first 15 mins candle is rejection of uptrend. Fall down by breaking Support 1 & 2 levels of 6th Jan view and took support at 1 hour TF 41900 level.

############# 9th Jan Intraday view ##########################
##Bullish View
1) Currently Banknifty at resistance level and Falling Wedge breakout, but the last 15 mins candle is Bearish Hanging man.
2) If it breaks resistance level 42240-42260 and close next 15 mins candle green we can see up move to Resistance1/Target1 (42360-42400) and if there is no rejection at R1 levels we can see R2/T2 levels(42580-42620) mentioned in the chat.

##Bearish View
1) If rejects at current resistance level then next support is 41950 to 41900 level, if it breaks the next support level is 41560 to 41500.
2) If it breaks Support 2 level then more bearish and next support is around 40900.

9 Oca 2023

Not

As expected Falling Wedge breakout done and reached R1 & R2 targets.
1) After R2 breakout it didn't sustain above that and fallen down and took support at R1 level.
2) Now again it is at R2 level, if it breakout R2 level tomorrow we can see R3 target.
3) If it rejects at R2 level tomorrow then R1 is next support and second level of support near 42230