BANKNIFTY
banknifty looks bullish above 33841. 33800 call writters go for cover as well as 35000 writers. Likely to propel markets higher. OI data show high bearishness which might be a trap. 33841 is a good resistance as per price action and a 15min close above that will result in a change in downside structure. observe price action. take only next month expiry
banknifty looks bullish above 33841. 33800 call writters go for cover as well as 35000 writers. Likely to propel markets higher. OI data show high bearishness which might be a trap. 33841 is a good resistance as per price action and a 15min close above that will result in a change in downside structure. observe price action. take only next month expiry
Comment:
5min close below day low can take market to 34530-34500 levels
Comment:
intraday traders can book profits at day high if long side triggers