#Banknifty directions and levels for March 28th
Banknifty has a similar sentiment. The 4th subwave has consolidated for a long time. So, if the market opens neutrally, then the 4th may continue further. After that, if it breaks the previous high, then we can expect the 5th wave, which may reach a minimum of the supply zone. If the 5th wave rejects there, then we can expect a correctional wave. On the other hand, if the market sustains around the supply zone, then the 5th may extend further.
Notes:
>Nifty and Banknifty have both been moving in a range-bound structure.
>Giftnifty indicates a neutral start, so the possibility of the moment being the range market might continue further.
>How can we trade in this range market? We can try to enter the minor fib level breakout and fix your target at the next fib level.
>If you want to take an option trade, then you should know how much premium you will get in the particular range because the range market may not provide as much premium in the options contract.
>Tomorrow is a trading holiday."
Notes:
>Nifty and Banknifty have both been moving in a range-bound structure.
>Giftnifty indicates a neutral start, so the possibility of the moment being the range market might continue further.
>How can we trade in this range market? We can try to enter the minor fib level breakout and fix your target at the next fib level.
>If you want to take an option trade, then you should know how much premium you will get in the particular range because the range market may not provide as much premium in the options contract.
>Tomorrow is a trading holiday."