#Imp $BANKNIFTY levels for Friday

٥ يناير ٢٠٢٣"The Bank Nifty index experienced a 1.96% drop today, with a subsequent recovery and ultimate closure at a decline of approximately 350 points. A review of the previous rally starting at 41575 points reveals a two-day overall decline of approximately 1.90%, or a drop of approximately 50% from the peak. Analysis of the chart reveals that if the decline persists, with a further drop of 200 points, we may witness a retest of the 41149 support level. However, it is unlikely that this event would occur within a single day. The next support level of interest is situated around 40500, and a thorough analysis of the two-day candle for today and tomorrow will provide further insight.

Upon examining the global market, I do not feel a pressing need to pay particular attention to any news or developments, as any event or occurrence ultimately reflects on our candle stick charts. It is my belief that we become confused and create our own perceptions when we try to interpret news and trends, which can be highly risky when trading. This has a significant impact on our trade play entry points and overall strategy. Please do not hesitate to ask if you have any questions."BANKNIFTY