BANKNIFTY RANGE DETECTED IN 30-MIN TIME-FRAME

Jun 18, 2020

BANKNIFTY TREND SETUP
-what is visible right now on banknifty is a rangebound movement
-where the floor is in between 19800-19700
-where the ceiling is in between 20630-20655
-if banknifty breaks 19700 on the next attempt
-banknifty may qualify for "triple top formation"


NIFTY TRADE SCENARIO
-avoid taking directional trade today as we have expiry
-wait for a break below 19700 or a break above 20650
-if we wait we will have a price target of atleast 800 points
-market might again range between 19700-20655
-wait for a range break

BANKNIFTY RESISTANCE FOR THE DAY
20240-20430-20620
BANKNIFTY SUPPORT FOR THE DAY
20040-19840-19740

Jun 18, 2020

Trade active

CEILING IS BROKEN
NEXT LEVELS ON THE UPISDE
20975
21050
21240

Jun 19, 2020

Note

HOLDING NIFTY AND BANKNIFTY FUTURES

NEXT TARGET
21470
21550
21620

Jun 19, 2020

Note

INDEX HIT 21470
AND GAVE INTRADAY DIP
WE ADDED LONGS AGAIN AT 21180
NEXT TARGET
21550
21620
21800