Bank Nifty: Wednesday - 04/01/23

Levels:
Support: 43180, 43000, 42650, 42250
Resistance: 43500, 43800

Observations:

• Rising Wedge formation
  
• Pennant Structure broken and in uptrend
  

OI Data:

---------------------------------------------------------------------|
Bank Nifty => Price: 43425.25
ATM: 43400 , ITM: 43300, 43200, 43100 , OTM: 43500, 43600, 43700
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Highest OI Call in Bank Nifty per OI data: 43500
Highest OI Put in Bank Nifty per IO data: 43000
Nearest Major Resistance in Bank Nifty per OI data: 43900
Nearest Major Support in Bank Nifty per IO data: 43100
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Trade setup:

+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | > 43500 | 43400 | 43700 | 43850
-----------------------------------------
SELL | < 43350 | 43450 | 43150 | 43000
+++++++++++++++++++++++++++++++++++++++++