RaviChandran_Rajkumar

How to Trade Bank Nifty on 26 Feb 2021

NSE:BANKNIFTY   NIFTY BANK
How to Trade Bank Nifty on 26 Feb 2021

What Chart Says:
Bank Nifty formed a bearish pin bar candle but managed to close above the previous session close

Behind the scenes:
Advance to decline ratio is around 35:15 in nifty 50
All European markets were flat when i publised this levels
SGX Nifty was around 0.35 during the review
Mixed reactions in bank today as the morning gains were taken in the second half of the session

What to expect:
Expecting a possible profit booking to continue or if the previous session low holds out then we can expect a possible range bound movement

How to trade today:

Possible setups:
1. GAP UP OPENING - First possible resistance is at 36868 and if it is taken out and if it acts as support then we can expect 37232 / 37492 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 36253. Any of these levels acting as a strong resistance can go short with possible lower targets of 35802.
3. Flat OPENING - 36494 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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