Based on recent market analysis, it has been determined that BANKNIFTY is expected to display a bearish momentum in the upcoming days. In light of this forecast, short-term traders are advised to consider either shorting or purchasing put options for the next month expiry.
It is recommended to identify the key sell range between 39830-39980, with a targeted goal of achieving 39650, 39400, and 38950. However, it is imperative to note that the suggested strategy should be implemented with a stop-loss in place at 40600 to minimize potential losses.
This approach will enable traders to make informed decisions while navigating the market's dynamic conditions and pursue their investment objectives with greater confidence.
It is recommended to identify the key sell range between 39830-39980, with a targeted goal of achieving 39650, 39400, and 38950. However, it is imperative to note that the suggested strategy should be implemented with a stop-loss in place at 40600 to minimize potential losses.
This approach will enable traders to make informed decisions while navigating the market's dynamic conditions and pursue their investment objectives with greater confidence.