Banknifty intraday levels for weekly expiry (06/03/24).

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It has given a nice up move in a single candle and closed forming a flag and pole pattern.

The market movement is consolidation, a move and consolidation again.

Tomorrow being the weekly expiry banknifty may give a trending move.

Major resistance levels :- 47700, 47830, 48000

If there is a gap up opening, there are chance of market moving even higher and closing above 48k levels.

In case of a flat to slight gap down opening, a bullish move can be captured as per the price action.

Support levels :- 47500, 47280

Wait for the price action near the levels before entering the markets.

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ملاحظة

The market is around a crucial levels and is sustaining the levels.

But nifty is giving a downside move and RSI is showing bearish divergence.

A bearish move can be captured in the market.

Wait for market to break 47950 levels.

:)