Jai Shree Ram! today i am going to talk about Bank Nifty on the daily charts it has a potential of coming down to 36800 levels yes the next support is here and it is very scary. this is a big bear candle which will eat of all the bulls.
We have seen a fall of 7800 points from the day Bank nifty made a high i.e on 25/10/2021 till 20/12/2021. from the low point of 34000 the bank nifty has retraced 50% i.e the date of 12/1/2022. On this day it saw a resistance of 38850 so after retracing 4850 from the low made on 20/12/2021 it is again going in the downward trend.
Trade strategy is to sell the calls of 38800 and above and buy puts of 38300 and below or if you trade in futures then short with a deep stop loss of 38300.
That's all folks signing off. will come up with a new blog soon follow me if you want to get the tips on trend and trading and leave a comments for your questions i will be glad to reply to them.
We have seen a fall of 7800 points from the day Bank nifty made a high i.e on 25/10/2021 till 20/12/2021. from the low point of 34000 the bank nifty has retraced 50% i.e the date of 12/1/2022. On this day it saw a resistance of 38850 so after retracing 4850 from the low made on 20/12/2021 it is again going in the downward trend.
Trade strategy is to sell the calls of 38800 and above and buy puts of 38300 and below or if you trade in futures then short with a deep stop loss of 38300.
That's all folks signing off. will come up with a new blog soon follow me if you want to get the tips on trend and trading and leave a comments for your questions i will be glad to reply to them.
