Banknifty Weekly analysis using price action.
Analysis:
Currently, the market is in the fear zone, as we can see from the past chart how the market behaved in these times.
Here we are anticipating a trend line that confluence with the previous supply zone which can now act as a demand zone in near time i.e April month.
Looking at the current market regime where people are aware and hopeful for the country's growth, I anticipate that market will recover very soon if there will be no world war scenario till march end.
Trade setup:
We can currently make money using bearish option strategies ex: bear call spread, short call, bear put ladder, etc.
Once the market hits the 28000 level, we can deploy bullish options strategies ex: Bull call spread, Bull call ratio spread, Bull call ladder, Bull Put spread, etc.
Currently, the market is in the fear zone, as we can see from the past chart how the market behaved in these times.
Here we are anticipating a trend line that confluence with the previous supply zone which can now act as a demand zone in near time i.e April month.
Looking at the current market regime where people are aware and hopeful for the country's growth, I anticipate that market will recover very soon if there will be no world war scenario till march end.
Trade setup:
We can currently make money using bearish option strategies ex: bear call spread, short call, bear put ladder, etc.
Once the market hits the 28000 level, we can deploy bullish options strategies ex: Bull call spread, Bull call ratio spread, Bull call ladder, Bull Put spread, etc.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.