How to Trade Bank Nifty on Expiry - 10 March 2021

How to Trade Bank Nifty on Expiry - 10 March 2021

What Chart Says:
Bank Nifty formed a bullish candle on the day chart and closing well above the previous session high

Behind the scenes:
Advance to decline ratio is around 21:29 in nifty 50
FII data looks to bullish as i dont have the data at the time of review
European markets opened in green at the time of review
Crude oil is currently trading around $65.71
US 10Yr bond is showing some signs of selling pressure
USD/ INR is showing signs of lowering which is a very good sign

What to expect:
Bank Nifty formed a kind of bulish day candle by clsoing above the pema zones and well above the previous session. Tomorrow being expiry and Thursday being holiday we can expect bank nifty to possibly have a gap up opening & trade in a range.

How to trade today:

Possible setups:
1. GAP UP OPENING - First possible resistance is at 36077 and if it is taken out and if it acts as support then we can expect 36379 / 36600 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 35705. Any of these levels acting as a strong resistance can go short with possible lower targets of 35544/35275.
3. Flat OPENING - 36865 is the key level to watch out on flat open any support & resistance at this level we can take positions in the direction of the trend and sit for targets as marked.

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?? Each levels Act can as possible support and resistance????.

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Happy Trading !
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