manavtechresearch

BANKNIFTY TRADE SETUP

NSE:BANKNIFTY   NIFTY BANK
-BANKNIFTY HAS TURNED WEAK AGAIN SHOWING SIGNS OF DOWNSIDE
-BANKNIFTY BROKE ALL MAJOR SUPPROT YESTERDAY
-WHICH WILL IN TURN NOW BECOME MAJOR RESISTANCE
-INDEX BROKE THE TRENDLINE AND MOVED BELOW
-IT TOOK SUPPORT ON ITS 50-EMA ON DAILY CHART
-IT TOOK SUPPORT AT VERY CRUCIAL SUPPORT OF 21150 IF IT HOLD BANKNIFTY CAN ARREST FURTHER DOWNSIDE MOMENTUM
-INDEX HAS NOW MULTIPLE SUPPORTS NOW PLACED BETWEEN 22200-21800 WHICH IS AT RISK
-CRUCIAL RESISTANCE PLACED AT 21670
-CRUCIAL SUPPORT PLACED AT 21150
-I EXPECT TODAY MARKET TO TRADE IN THE RANGE OF 21150-21670
-BANKNIFTY NEEDS TO TAKE 21670-21960 TO TRADE HIGHER AGAIN
-PATIENCE IS NEED IN BANKNIFTY TRADING
"WAIT AND WATCH"APPROACH

BANKNIFTY RESISTANCE FOR THE DAY
21960-21800-21670
BANKNIFTY SUPPORT FOR THE DAY
21200-21150-21050



!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!
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