BankNifty Trading Strategy on Budget Day

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ICICI Bank will be on focus today and banking stocks will move up as Adani FPO crisis is over.

There is a gap in bank nifty option between 41415-41540. If bulls sustain above Resistances then gap filling is for sure.


BankNifty Spot View For: 01/02/2023
Cmp: 40655.05
Support & Downside Range: 40174-- 39775--39419
Resistance & Upside Range:41245—41833--42300
Short Term Trend Reversal Level: -- 
Trading View: In today's trading session key level to watch is 40174 spot levels till the time we remains above this levels bulls will try to move upside towards minimum 41245 to 41833 and max 42300 spot zone whereas break below 40174 we may fall towards 39775 and below levels.

Make use of our accurate banknifty trading strategy and be on the right side of the market. 

Option buyers should be cautious because that premiums can shrink quickly post budget if its going to be a non event budget... So you should book quick profits as and when you get it... Implied volatility can reduce by half soon after the budget...

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