BANKNIFTY
BANKNIFTY Yesterday retraced from the the lows of 25900. Forming a double bottom support near challenging the upper trend lines zones of the downward channel. yesterday's point of control remained at 25050 in futures levels and around the 24990 zones in the spot levels.
Now there are two scenarios that can play out. the swing top resistance remains at the 25450-25500 zones. A test of that can provide a contrarian short opportunity , in case markets hold above that we can probably look for long build up and short covering opportunity to test higher levels.
#banknifty #tradingidea #signals #volumeprofile #marketprofile
Comment:
Ha ha too much volatility do have done targets and SL both in an Hour... key on the upside remains at 245850 levels for a conclusive breakout or a resistance for a short on news.
