BANKNIFTY TRADE SETUP FOR THE WEEK

-BANKNIFTY MIGHT OPEN 300 IN THE PLUS
-SEE INDEX IS COOKING SOMETHING BIG
-A PENDING RALLY IN PLACE
-ON THE WEEKLY CHART BANKNIFTY FOR THE FIRST TIME HAS CLOSED ABOVE 21600 IN 15 WEEKS
-A LOT OF POSITIVE FOR HEAVY WEIGHTS LIKE ICICI AND HDFC BANK
-TODAY BANKNIFTY CAN OPEN ABOVE RESISTANCE CAUSING SERIOUS SHORT COVERING
-REMEMBER BANKNIFTY IS PLACED NEAR 38.2% RETRACEMENT
-AS COMPARED TO NIFTY WHICH HAS CROSS ABOVE 61.8% RETRACEMENT
-FOR A BIG BANG WE NEED BANKNIFTY TO CROSS ABOVE 22300-22450
-A CLOSE ABOVE 22450 WE WILL SEE MOVE TOWARDS 23080-23470
-22450 IS ALSO THE 100-EMA LEVEL ON DAILY CHART
-CRUCIAL SUPPORT PLACED AT 21960
-CRUCIAL RESISTANCE PLACED AT 22200-22300

BANKNIFTY RESISTANCE FOR THE DAY
22070-22180-22300
BANKNIFTY SUPPORT FOR THE DAY
21960-21800-21410

!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!



READ OLD POST ON INDEX AND SEE HOW WE ARE POSITIONED IN THE INDEX