BANKNIFTY continues to Balance
Updated
Banknifty is continuing to balance within the upper range of the election weeks profile range ( 31650-31380 Futures levels ). A break on downside can see a test of 31100 and 30800 on the downside. the fact that we traded two consecutive days within a narrow Value area spread means changes of a break for the expiry is highly possible.
alternatively an outside break can test 32000 range.
alternatively an outside break can test 32000 range.
Note
Banknifty tested the exact marked lows, holding below the mean of the marked box ( about 31500) we should look for a retest of the lows back againNote
failed to break below the balance low and have now pulled back right at the upper edge of the balance highs, holding above this into tomorrow morning's session has a good chance to attempt the higher target zones
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