Bank Nifty Trade Plan for 04 JAN 2022

Bank Nifty Trade Plan for 04 JAN 2022

After a good rally can expect some profit booking today.

Expecting a flat to small gap up opening.

Expected Range:
Downside - 36000
Upside - 37000

Very wide CPR , can expect to be in a range. Any pull back to Bullish Reversal zone(36150) is a buying opportunity in Bank Nifty and expect above targets.

On opening if the Previous day high is sustained and support confirmed we can possibly go long with targets as plotted on the chart with Previous day close as SL.

In case previous day close is compromised then we can expect BN to test out Bullish reversal zone and once support confirmed we can buy at these levels.