Bank Nifty Trade Plan for 3rd March
1. Indices seem like refusing to fall. Even as US markets and US futures were trading negative, the market gave a lower opening and after 15 minutes formed a W like a pattern and recovered about 600 points up
2. Therefore price action on the chart is king. Especially as options buyer good to trade in the first hour to avoid premium decay after that
3. Again global markets as of now are putting pressure on negative opening. I will like to mark key support levels at 36000/ 35900/35700/35600. Today's reversal was around 35600. On the upside 36500 is 1st target if market breaches 36300 on upside
1. Indices seem like refusing to fall. Even as US markets and US futures were trading negative, the market gave a lower opening and after 15 minutes formed a W like a pattern and recovered about 600 points up
2. Therefore price action on the chart is king. Especially as options buyer good to trade in the first hour to avoid premium decay after that
3. Again global markets as of now are putting pressure on negative opening. I will like to mark key support levels at 36000/ 35900/35700/35600. Today's reversal was around 35600. On the upside 36500 is 1st target if market breaches 36300 on upside