Overview: Banknifty gapped down significantly on negative global cues. Looking at the sentiments we might see more downfall in upcoming sessions.
The view in the market has turned negative and the sell-on-rise strategy can be used for intraday trading.
So we can expect some really good moves tomorrow depending on if we sustain below the support levels.
Banknifty resistance level: 35265/35520
Only once we sustain above these levels then only we can see an upside move till 2nd level of resistance which is again very unlikely to happen.
Banknifty Support level: 34893/34631
If we go below the support levels and form a negative candle on 5 or 15 min we can short bank nifty for lower levels support, if we fall below 34600 levels then more panic selling can be seen in the market.
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The view in the market has turned negative and the sell-on-rise strategy can be used for intraday trading.
So we can expect some really good moves tomorrow depending on if we sustain below the support levels.
Banknifty resistance level: 35265/35520
Only once we sustain above these levels then only we can see an upside move till 2nd level of resistance which is again very unlikely to happen.
Banknifty Support level: 34893/34631
If we go below the support levels and form a negative candle on 5 or 15 min we can short bank nifty for lower levels support, if we fall below 34600 levels then more panic selling can be seen in the market.
PLS LIKE , COMMENT YOUR VIEWS AND FOLLOW FOR MORE UPDATES