Banknifty - Intraday Levels for 05 Aug 2022

Banknifty Levels for Tomorrow..

Trend : BULLISH
Sentiment : Positive
Expectation : BULLISH

Last Friday Nifty closed flat, SGX Nifty were shoot up 150 points after our market close but due to US market Job data impact there was sudden drop in the market.

Expecting flat open in Banknifty tomorrow, Banknifty looks storng Bullish.

However Wait for first 5m candle close, any breakout above the high its Bullish or any breakout below low its Bearish so better we can follow the trend.

If Price opens above CPR, then CPR and the lower trend line will provide support where we can take our long entry.

Incase 39320 is compromised lower targets are possible.

Refer the chart for detailed Intraday Support and Resistance levels.

Happy Trading!!