On Friday we discussed that index may trade between 38000 and 37000. But BANKNIFTY tried to break the upper range but eventually came down and it is once again in the range of 38000 and 37000.
No aggressive short position as of now. Till we get price action below 37000 for a short trade.
While we will buy above from two levels- one above 35200 and second above 37850.
38550 will be tested if index sustains above 38200.
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