-BANKNIFTY EXPIRY RANGE OF 22400-23070 WAS VALID -IT ALMOST CLOSED NEAR THE UPPER RANGE -BANKNIFTY IS IN A STRONG UPTREND -ANY DIPS TOWARDS 22700-22600 SHOULD BE USED TO BUY INTO THE INDEX -BANKNIFTY CONQUERED 22450 ON CLOSING BASIS TO MOVE HIGHER AS DISCUSSED EARLIER -INDEX HAS NOW MULTIPLE SUPPORTS NOW PLACED BETWEEN 22200-21800 -CRUCIAL SUPPORT PLACED AT 22450 (RESISTANCE-TURNED-SUPPORT) -AND IT MANAGED TO HOLD ABOVE IT FOR TWO DAYS AND TODAY IS WEEKLY CLOSE SO MUST STAY ABOVE THAT -NEXT TARGET ON BANKNIFTY 23070-23480 -I EXPECT TODAY MARKET TO TRADE IN THE RANGE OF 23070-22400 -BREAK ON THE UPSIDE WILL LEAD TO TEST OF 23250-23460 LEVELS -BANKNIFTY HAS MANAGED TO BREAK ITS 4-MONTH TRADING RANGE SO IT WON'T BE EASY TO ENTER BACK -"WAIT AND WATCH" -BUY WHEN INDEX CROSSES ABOVE 23080
BANKNIFTY RESISTANCE FOR THE DAY 23080-23225-23460 BANKNIFTY SUPPORT FOR THE DAY 22680-22480-22380
!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!! !!TRADE ACCORDING TO YOUR RISK PROFILE!! !!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!! !!HAPPY TRADING!!