Banknifty intraday Trade analysis 01-mar-2023
BankNifty - mostly sideways market today, did not move much any side 40K=Support 40500=R.
Flat opening→ Above 40400, it can move up to 40500-600, So, I will not buy but wait for -ve price action near resistance.
Gap up - Will face Multiple resistance, so it may not move up rapidly, will see-ve price action near resistance. 40500=R1 ; 40900:R2.
Gap down - Below 40k will sell but only on pullback in 5 min. Initially no hurry in taking trades. For: 39750. Near 40k if halt then break, then can give good momentum.
Flat opening→ Above 40400, it can move up to 40500-600, So, I will not buy but wait for -ve price action near resistance.
Gap up - Will face Multiple resistance, so it may not move up rapidly, will see-ve price action near resistance. 40500=R1 ; 40900:R2.
Gap down - Below 40k will sell but only on pullback in 5 min. Initially no hurry in taking trades. For: 39750. Near 40k if halt then break, then can give good momentum.