Banknifty intraday levels for 06.01.2023
Resistance level:42675.75
Support level : 42401.05
****Fib Retracement levels will act as the support or resistance****
If candles are sustaining or break above resistance level , we can expect upside move and the targets will be fib retracement levels as per chart
If candles are sustaining between resistance and support levels, consider as neutral
If candles are consolidating in buy zone or sell zone, wait for the breakout
If candles are sustaining or break below support level , we can expect downside move and the targets will be fib retracement levels as per chart.
If gap up or gap down opening, fib retracement levels will act as the support or resistance
*** For quick scalping use 5-minute time frame*****
Note: Pls check my previous day ideas for back testing & better understanding
Please let me know in comment section if you have any queries and like the idea If you agree with the analysis.
Disclaimer:
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
Support level : 42401.05
****Fib Retracement levels will act as the support or resistance****
If candles are sustaining or break above resistance level , we can expect upside move and the targets will be fib retracement levels as per chart
If candles are sustaining between resistance and support levels, consider as neutral
If candles are consolidating in buy zone or sell zone, wait for the breakout
If candles are sustaining or break below support level , we can expect downside move and the targets will be fib retracement levels as per chart.
If gap up or gap down opening, fib retracement levels will act as the support or resistance
*** For quick scalping use 5-minute time frame*****
Note: Pls check my previous day ideas for back testing & better understanding
Please let me know in comment section if you have any queries and like the idea If you agree with the analysis.
Disclaimer:
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research
Feragatname
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