Overview: Banknifty gapped up significantly and continued trading above our resistance levels after a breakout of 35520 levels. We saw a very good upside move which propelled the index to 35710 levels.
So we can expect some really good moves tomorrow depending on if we sustain above the resistance levels.
Banknifty resistance level: 35797/36009
If we open flat, and sustain above 35710 levels and cross 35750 we can see an intraday spike on the market making it to 36k levels.
Banknifty Support level: 35520
Only if we form a price action below the support levels we can short BNF if we fall then it will be a panic one too.
EXPECTING GOOD MOVEMENT ON EITHER SIDE
So we can expect some really good moves tomorrow depending on if we sustain above the resistance levels.
Banknifty resistance level: 35797/36009
If we open flat, and sustain above 35710 levels and cross 35750 we can see an intraday spike on the market making it to 36k levels.
Banknifty Support level: 35520
Only if we form a price action below the support levels we can short BNF if we fall then it will be a panic one too.
EXPECTING GOOD MOVEMENT ON EITHER SIDE