Nifty Bank IndexLong
Bank Nifty: Friday - 28/10/22
Levels:
Support: 41000, 40600, 40450, 39900
Resistance: 41400, The red uptrendline (whereever the price crosses)
OI Data:
Highest OI Call in Bank Nifty per OI data: 41300
Highest OI Put in Bank Nifty per IO data: 41000
Nearest Major Resistance in Bank Nifty per OI data: 41700
Nearest Major Support in Bank Nifty per IO data: 40900
Trade setup:
1. For any buy trade, follow the N pattern (let the price run above the level, let it retrace back to the level and let it hold the level as support)
2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pull back to the level and unable to pass through the level as resistance).
+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | > 41350 | 41250 | 41500 | 41650
-----------------------------------------
SELL | < 41200 | 41300 | 41000 | 40850
+++++++++++++++++++++++++++++++++++++++++
Support: 41000, 40600, 40450, 39900
Resistance: 41400, The red uptrendline (whereever the price crosses)
OI Data:
Highest OI Call in Bank Nifty per OI data: 41300
Highest OI Put in Bank Nifty per IO data: 41000
Nearest Major Resistance in Bank Nifty per OI data: 41700
Nearest Major Support in Bank Nifty per IO data: 40900
Trade setup:
1. For any buy trade, follow the N pattern (let the price run above the level, let it retrace back to the level and let it hold the level as support)
2. For any sell trade, follow the mirror-N pattern (let the price fall below the level, let it pull back to the level and unable to pass through the level as resistance).
+++++++++++++++++++++++++++++++++++++++++
Trade | Level | SL | T1 | T2
-----------------------------------------
BUY | > 41350 | 41250 | 41500 | 41650
-----------------------------------------
SELL | < 41200 | 41300 | 41000 | 40850
+++++++++++++++++++++++++++++++++++++++++
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