BANKNIFTY INDEX MAGICAL LEVELS FOR 27-09-23

26 sept 2023

The plotted levels on the chart should be considered only when BANKNIFTY opens flat on 27-09-2023.

If BANKNIFTY opens GAP-UP (Open > Previous High) or GAP-DOWN (Open < Previous Low) on 27-09-2023 then the following calculations must be considered:

Level 1 = OPEN PRICE (25-SEP) - 116.25
Level 2 = OPEN PRICE (25-SEP) - 286.40
Level 3 = OPEN PRICE (25-SEP) - 109.80
Level 4 = OPEN PRICE (25-SEP) + 116.25
Level 5 = OPEN PRICE (25-SEP) + 286.40
Level 6 = OPEN PRICE (25-SEP) +109.80

High Probable Reversal Levels: The levels plotted with Yellow, White, and Purple colours.


DISCLAIMER: This idea is only for educational purpose.

27 sept 2023

Nota

As BANKNIFTY opened GAP-DOWN, the levels plotted on the attached chart need to be updated. The revised levels should be calculated with OPEN Price:

Level 1 = 44350.08
Level 2 = 44180.51
Level 3 = 44356.48
Level 4 = 44581.72
Level 5 = 44751.29
Level 6 = 44575.32