Banknifty & Nifty Trading levels for 21/02/2023

BankNifty :-

• Banknifty Formed Strong Bearish Candle on the Daily charts.

• If BN Breaksout 41053 Level then upside move till 41260, 41320 can be seen and if Breaksdown 40580 then Fall till 40500 , 40310 can be seen.

• Almost 17 lakhs Put contracts was added on 41000 strike price against 7.6 Lakhs call unwinding which is acting as nearby resistance currently.

• Highest call contracts are seen at 40500 Strike price which is currently Acting as support below which good fall can be seen.

Nifty :-

• Nifty Formed Strong Bearish Candle on the Daily charts.

• Doji Candle formed on the Hourly charts . However upon Breakout of 17900 , Upside move till 17970 , 18038 , 18100 can be seen.

• If it Breaksdown 17820 , Dowside move till 17795 , 17758 , 17728 can be seen.

• Almost 45 lakhs Put contracts was added on 18000 strike price against 3.5 Lakhs call unwinding which is acting as nearby resistance currently. Upon Breakout of 18000 Huge upside move will be seen.

• Highest call contracts are seen at 17800 Strike price which is currently Acting as support below which good fall can be seen.