Dear traders, I have identified Bank Nifty level based on my analysis, major support and resistance levels. Please note that I am not a SEBI registered member. Information shared for educational purpose.
BankNifty is looking weak based on option chain data and global cues. Expecting flat to negative opening. Likely to see high volatility in 2nd half. India VIX is also up 2.77%. Expecting a directional move after US FED rate hike. Stay light on bearish as well as bullish side to avoid bear or bull trap.
Please do take trade based on your own analysis and risk-taking abilities. Never ever worked with fixed mindset. Any news/result data may change the direction of the trend instantly. Focus on learning so you can take correct/better decision based on your analytical skills. PLEASE NOTE THAT NO ONE CAN BE 100% CORRECT EXCEPT GOD. OVERALL, WE SHOULD BE ABLE TO CLOSE IN PROFIT EVEN IF WE ARE 50% CORRECT WITH RISK REWARD RATIO 1:2