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BANKNIFTY || A BLUFF OR A SUSTAINED MOVE!

Long
NSE:BANKNIFTY   NIFTY BANK
Bank Nifty as expected did not breach 29300 on the downside in today's trade. Rather it took support near 29550 and moved towards 29800 and in the process formed a bullish candle. Hence for tomorrow only it is possible that it will breach 29820 on the upside and not break 29500 for tomorrow only. Shall take it on a daily basis from thereon!
Comment: Breaches 29820 and has not broken 29500 till now. A great trade for Option Buyers. R-R better and safe as well.
Comment: A substantial move as per the daily candle. Delight for option buyers and sellers. Either way.Made a high of 29885.
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