BNF is making a trendline and today opened gap up and selling came from top (43300) and closed at 428500.
for monthly expiry, BNF is hugely volatile. 3 scenarios may happens
1. opening gap up
If BNF opens the gap up and sustains above 43033 then the market will be bullish.
2. Opening gap down
BNF opens Gap down and sustains below 42600 then market will be bearish and it will in the range of 42600 to 42200.
3. Opens flat.
we have to wait for the price action.
My view for monthly expiry.
BNF follows the trendline, if it trades below 42800 then sells above 42800,42900 &43000 CE.
for monthly expiry, BNF is hugely volatile. 3 scenarios may happens
1. opening gap up
If BNF opens the gap up and sustains above 43033 then the market will be bullish.
2. Opening gap down
BNF opens Gap down and sustains below 42600 then market will be bearish and it will in the range of 42600 to 42200.
3. Opens flat.
we have to wait for the price action.
My view for monthly expiry.
BNF follows the trendline, if it trades below 42800 then sells above 42800,42900 &43000 CE.