Coming week have less volatility as compare to last week and will be bullish.
If no gap up happened on coming Monday setup will like this
Buy Side
As of now near supply zone so will take support on 21850-21800 or on demand zone 21600 and bounce back.
If crossed supply zone we can see good movement up side above 22587 price level.
Sell side
Selling possibilities are near current level after got strong rejection on supply zone or next supply zone which is 22596 near by price level. Between this zone will be sideways bullish.
Gap-up scenario
Sell near 22596 supply zone otherwise buy at support & demand level.
RSI is above 50 which is strong indication of good movement will be possible on upside side.
If no gap up happened on coming Monday setup will like this
Buy Side
As of now near supply zone so will take support on 21850-21800 or on demand zone 21600 and bounce back.
If crossed supply zone we can see good movement up side above 22587 price level.
Sell side
Selling possibilities are near current level after got strong rejection on supply zone or next supply zone which is 22596 near by price level. Between this zone will be sideways bullish.
Gap-up scenario
Sell near 22596 supply zone otherwise buy at support & demand level.
RSI is above 50 which is strong indication of good movement will be possible on upside side.
Comment:
for option seller, good option is to sell 21000 put.
Comment:
1hr time frame inverted head and shoulder pattern formed on banknifty. Sign of bullish movement.
Comment:
95 points gain from the observation point. On put is 190 & as of now @CMP 94.