Bank Nifty Trade setup for 16 May 2022
Bank Nifty Trade setup for 16 May 2022
Bank Nifty likely to have a gap up opening around Bearish Reversal Zone.
Structurally Bank Nifty is bearishly aligned for the day and at key support levels.
The immediate resistance for Bank nifty will be 33400 levels to again show good trend reversal.
In case of gap up opening and sustains above Bearish Reversal zone and we get buy triggers on indicators around these levels we can possibly go long for quick scalp to R1 & PDH.
Any confirmed sell trigger around R1 we can anticipate market to be in range and might again test out CPR range.
In case if T1 is taken out on upside we can expect higher markets targets.
Bank Nifty likely to have a gap up opening around Bearish Reversal Zone.
Structurally Bank Nifty is bearishly aligned for the day and at key support levels.
The immediate resistance for Bank nifty will be 33400 levels to again show good trend reversal.
In case of gap up opening and sustains above Bearish Reversal zone and we get buy triggers on indicators around these levels we can possibly go long for quick scalp to R1 & PDH.
Any confirmed sell trigger around R1 we can anticipate market to be in range and might again test out CPR range.
In case if T1 is taken out on upside we can expect higher markets targets.