BankNifty Spot View For 03/01/2023
Cmp: 43203.10
Support & Downside Range: 43039—42833—42700 zone, 42489
Resistance & Upside Range: 43383--43509—43852--44150
Short-Term Trend Reversal Level: --

Bank Nifty Intraday Tips Today

Trading View: In today's intraday trading session key level to watch is the 43039 spot level till the time the bank index trades above the 43039 spot bias remains sideways to bullish and in that case, it can try to touch the upside minimum 43383 to 43509 spot zone and max 43852 to 44150 spot zone whereas a break below 43039 bias goes sideways to range bound and bank index may retest 42833 to 42700 spot levels and break below 42489 bias turns to sell on rise.

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Update

Banknifty live update : cmp 43360 as per options data highest put oi standing at 43000 strike and highest call oi standing at 43500 strike, now as per current data since morning 43000/43100/43200 call writeers doing undwinding and fresh put oi has added in 43200/43300 strike as well 43400 strike if bank nifty manged to sustain above 43360 after or before 2.30 than we may see strong short covering buy 43300/43400/43500 call writers now as per this current options data downside 43200—43250 acts as strong support zone to support bulls

Banknifty spot low posted 43187 and back to near day high of 43460 spot

BankNifty - Current Expiry - Critical Option Analytics Data
Strongest Support	Strengthening Support	PCR	Max Pain	Strengthening Resistance	Strongest Resistance
43000	43300	1.07484	43300	43500	43500