BankNifty levels for Friday(Price closed above Previous day low)

BankNifty closed above previous day low that level (39990) is crucial for tommorow friday if that holds we may see short covering til 40500 to 40600.if prices sustains below 39900 expect a range bound day between 39500 to 39900 levles .

Scenairo to play

Buy CE above 40150 Stop Loss 40000 Targets of 40300, 40450, 40600
Buy PE below 39900 Stop Loss 40150 Targets of 39800,39600,39500

Play the borders if stays in Range mark day high day low levels of 1st one hour trading levels and trade accordingly.

Levels marked on chart.

Comment:

don't jump into long now,Let it retracce to 40000 to 40050 area to long if price action suggest for long

Comment:

told you it will retrace now look for price action at 40000 and 40100 levels

Comment:

if one can observe my chart above trend line break out happened and it made double bottom on retrace to trendline one can take calls with their risk apetite

Comment:

3 min time frame my trading time frame