BANKNIFTY for 3rd January

Banknifty too made a strong green candle today, overshooting yesterday’s and Tuesday’s high. The buying was all round today. In the first half it appeared that Nifty was strong and dragging BNF along but in second half it seemed to me, reverse was the case. Banknifty is in the strong momentum. Please check my video posted on youtube under channel name Market Movers India for slightly more analytical content. Though Nifty is quite close to its life time high Banknifty is around 170 points away. Both FIIs and DIIs were net buyers today though DIIs’ net buy volume was very low, so they did sell big time too. For tomorrow, there are two levels marked on 15 min chart which can be used for buying if Nifty drops down a bit.
All the best. Happy trading.

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