Bank nifty trades and targets - 2/8/24

Aug 1

Hello Everyone. Market was in a tight range and premium decay happened throughout the day. You need to technically very sound to come out of these king of days. Most of new traders lose their capital on this kind of day. Whenever is opening below previous day we need to draw resistance levels after market opens. We have to mark at least 3 points including today's candle to form resistance and vise versa when market opens higher than previous day. If you can see market did not break resistance or support throughout the day, due to which premiums did not go up as expected. As told earlier draw previous day high/low, resistance/support before market opens and trade accordingly.