protrader1969

BANKNIFTY for 26th December

NSE:BANKNIFTY   NIFTY BANK
Banknifty was much stronger than Nifty on Tuesday and it made a kind of red Doji candle with lower high and higher low. Banknifty was traded in much tighter range. Please check my video posted on youtube under channel name Market Movers India for slightly more analytical content. On daily chart , Stochastics indicator is at 92 with bearish crossover done on Tuesday, which means it is in overbought zone. The RSI is not giving any such indication as yet. There are no clear cut buying or selling levels on 15 min chart. However, on Monday a buying area got made which if broken on lower side (32196) will take BNF much lower till 32017. So a sell call can be taken if BNF breaks 32195 levels and stays there for some time. A buy call on banknifty can be taken at around 32000 with a strict SL. Tomorrow being expiry, wild moves in BNF can be expected.
All the best, happy tading.

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