BANKNIFTY Analysis for Monday 07 Aug 23

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These are important Levels for Banknifty for Monday. 'Yellow' markings are very important since they are combination of Fib levels and Price Action. Any breakout/rejection from these levels can give good momentum on either side. Since I am a little biased on the bullish side for tomorrow, breakout from Yellow zone and TL will give me a good conviction to go long in BANKNIFTY. Hope you have a good day tomorrow. Good Luck!