Nifty Bank IndexShort
Can Bank Nifty continue its sell off on 6th July?
Key levels in Bank Nifty for Tomorrow:
34300
33800
33300
1)33800 & 34300 will act as a resistance from now on.
2)If market opens flat tomorrow and forms any negative pattern or candle at 33800 levels BNF can be shorted with a small SL.
3)If market opens gap down and opens around 33300 RSI might go to oversold levels for sometime and we can see some correction. In this situation we should look for sell on rise scenario.
4)As 33300 looks like a trend line support and If market stays here for long it will break it eventually.
5)Unless Market breaks 34300 levels ,market is sell on rise mode. Above 34300 ,look for price action and bullish candle sticks patterns before taking the trade.
6)Avoid taking trades If they are far away from support and resistance . Either our stoploss will become far or it will hit our stoploss in any direction. So please be careful while trading
*** Above suggestions are clearly for educational purposes not any kind of Buy/Sell suggestion.
* Feel free to share your thoughts.
34300
33800
33300
1)33800 & 34300 will act as a resistance from now on.
2)If market opens flat tomorrow and forms any negative pattern or candle at 33800 levels BNF can be shorted with a small SL.
3)If market opens gap down and opens around 33300 RSI might go to oversold levels for sometime and we can see some correction. In this situation we should look for sell on rise scenario.
4)As 33300 looks like a trend line support and If market stays here for long it will break it eventually.
5)Unless Market breaks 34300 levels ,market is sell on rise mode. Above 34300 ,look for price action and bullish candle sticks patterns before taking the trade.
6)Avoid taking trades If they are far away from support and resistance . Either our stoploss will become far or it will hit our stoploss in any direction. So please be careful while trading
*** Above suggestions are clearly for educational purposes not any kind of Buy/Sell suggestion.
* Feel free to share your thoughts.
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