These are the Levels to Lookout for BANKNIFTY for the upcoming week i.e., from 23rd Jan to 28th January 2023.
These levels are derived from the Volume Profile Analysis and should be monitored on 30 Minutes Timeframe!
Since BANKNIFTY Index is not a Tradable instrument, we need to check on the Future chart.
All the Levels are Marked on the Banknifty Future Chart.
These levels are derived from the Volume Profile Analysis and should be monitored on 30 Minutes Timeframe!
Since BANKNIFTY Index is not a Tradable instrument, we need to check on the Future chart.
All the Levels are Marked on the Banknifty Future Chart.
Market Tried to break 42910F on the Upside, but failed to sustain above it. Also, it could not break the 30 Minutes Opening Range.
As soon as BNF closed below 42910F (at around 10:45 AM), I went Directional targeting 42800F. At around 12:45PM, I modified my position to a Short Strangle knowing that there is a support below at 42800F downside and 42910F on the Upside.
That Plan worked really well!