banknifty 25th may expiry inverted hammer
Updated
banknifty in daily timeframe formed inverted hammer which is a sign for reversal and in weekly timeframe it is forming evening star pattern. This week expiry looking range bound (similar to the finnifty) so trade with less quantity or go for next week expiry(june series) to avoid premium decay. possibility of short covering on either side is possible.
Buy above 44057(43900 CE) Target 44132,44282,44410,44550
Sell below 43579 (43800 PE) Target 43465, 43333
OI Data
44000 Call writing: 81 lacs
43500 put writing. : 51 lacs
Buy above 44057(43900 CE) Target 44132,44282,44410,44550
Sell below 43579 (43800 PE) Target 43465, 43333
OI Data
44000 Call writing: 81 lacs
43500 put writing. : 51 lacs
Trade closed: target reached
we are on target 1 of 43465
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