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.
@Endeavourdev Red alert -1 Inflation, inflation everywhere Bond yields across the developed world hit fresh highs amid further evidence that inflation is rising faster and staying around for longer than central banks had expected last year. The yield on the U.S. 10-Year Treasury bond edged up another 2 basis points to 1.90% overnight, its highest level in more than two years. That came a day after Goldman Sachs CEO David Solomon complained of “wage inflation everywhere” – not least at his own bank, where higher compensation ate into profits and sent its stock down 7%. Elsewhere, the yield on the 10-Year German bond rose above 0% for the first time since May 2019 as German inflation was confirmed at 5.3% in December, while U.K. inflation also rose more than expected to a near-30-year high of 5.4%. Two senior Bank of England officials will speak later and may give clues as to the likelihood of another BoE rate hike at its meeting in early February.