Unlike Nifty, Banknifty (BNF) gave ample signals of what’s going to come in latter half. As written in my post about on Nifty, Nifty did not break its earlier high and low for more than 4 hours. But BNF kept on making higher highs and higher lows periodically, which clearly told us how the move was going to be in latter half. However, this was today and that is over. We start with next week’s expiry tomorrow on the back of IIP and CPI figures release today by NSO after market hours. Please check my video posted on youtube under channel name Market Movers India for slightly more content where I have spoken in greater detail. Least to say, the figures show us in great detail the economic mess we are in. This is likely to cast its effect tomorrow. Today's gap up move created a strong greeen candle with HH and HL with higher Close as compared to yesterday. Unfortunately, there are no clear levels for intraday trading other than those shown on 15 min chart, so trades will have to be taken on chart as and when opportunity presents itself.
All the best. Happy trading.
All the best. Happy trading.