BankNifty - Up trend is intact on charts, 21800 can be expected.
Though the news flow (china border dispute) and global markets are not supportive, charts and indicators / oscillators are indicating continuation of uptrend.
Resistance and support levels are mentioned on the chart.
I generally don't trade nor recommend naked derivative positions, and find risk defined strategies or spreads / strangles more relevant for markets that have run enough.
A bull spread after it crosses 21470, utilising some near ATM strike and selling one or two 22500 call (depending your risk profile) can be considered.
20500 should be the stop loss, if you don't want to make any adjustments.
Experienced traders that can make adjustments in case market moves out of range can also consider selling 20500 puts.
Please carry due diligence, and consult your financial advisor before taking any leveraged position, trade keeping your risk profile in mind.
Resistance and support levels are mentioned on the chart.
I generally don't trade nor recommend naked derivative positions, and find risk defined strategies or spreads / strangles more relevant for markets that have run enough.
A bull spread after it crosses 21470, utilising some near ATM strike and selling one or two 22500 call (depending your risk profile) can be considered.
20500 should be the stop loss, if you don't want to make any adjustments.
Experienced traders that can make adjustments in case market moves out of range can also consider selling 20500 puts.
Please carry due diligence, and consult your financial advisor before taking any leveraged position, trade keeping your risk profile in mind.
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