BankNifty Monday Gap up & Multiple Resistance Ahead.
Updated
Banknifty expecting a gap up with sgx nifty closed around 100 points up at friday close, Going by gap up we have multiple resistance ahead 41800 and 42000 and then between 42000 and 41500 last time it consolidated almost 10 days.
Trade with levels on chart above with price action.
41500 above sustains Buy CE stop loss 41400 Target till 41700 and 41800
41200 Below sustains Buy PE stop loss 41100 and Target till 41000 to 40900
Look for Revesal Play at 40800 and 42000 areas.(not a good option in bullish market rather wait for retracement to go long)
Trade with levels on chart above with price action.
41500 above sustains Buy CE stop loss 41400 Target till 41700 and 41800
41200 Below sustains Buy PE stop loss 41100 and Target till 41000 to 40900
Look for Revesal Play at 40800 and 42000 areas.(not a good option in bullish market rather wait for retracement to go long)
Comment
As mentioned above multiple resistances ahead rejected at highs today .
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