Swapilchoksi

Bank Nifty: Demand and Supply Zones for Intraday Trade

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NSE:BANKNIFTY   NIFTY BANK
Hello,
As I have mentioned in my Bank Nifty Weekly post, Bank Nifty chart is stronger than Nifty .

1st Major Supply Zone @ 31375-31475
1st Demand Zone @ 30900-31050
2nd Strong Demand Zone @ 30600-30660
Neckline @ 30500

I am not expecting tomorrow BNF will sustain above its first supply zone . If it will sustain then I will plan for a long trade.
On the downside, there are two demand zones. On Monday if the bank nifty will open negative then I will watch the 1st demand zone . If it will sustain below 31050-30900 then I will plan for a short trade.
Trade Well

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