Banknifty analysis 21 mar 22
Hello traders,
Banknifty has again gave a closing above a very major level.and currently at 61.8 level. Next trading will be based on this
1. If market opens in between yesterdays high and low and breaks 36610 then take call position for a target of 37300 with sl of 36350. Contrary if if breaks 37350 then take put for a target of 36000 with sl of 36400.
2. If market opens gap up then wait for retracement upto 36600 and then take a call position with sl of 36300 for target upto 37300.
For upcoming days major resistance is 37400 and 37600-800
Major support lies on pink trend line which is drawn on chart, 35300 and 34000-34200 zones.
Its very important to find good risk to reward ratio trades.
Banknifty has again gave a closing above a very major level.and currently at 61.8 level. Next trading will be based on this
1. If market opens in between yesterdays high and low and breaks 36610 then take call position for a target of 37300 with sl of 36350. Contrary if if breaks 37350 then take put for a target of 36000 with sl of 36400.
2. If market opens gap up then wait for retracement upto 36600 and then take a call position with sl of 36300 for target upto 37300.
For upcoming days major resistance is 37400 and 37600-800
Major support lies on pink trend line which is drawn on chart, 35300 and 34000-34200 zones.
Its very important to find good risk to reward ratio trades.
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