Banknifty future levels for this expiry have been marked. Depending upon the price opening , the course of action is decided . This is very important to determine the type of day that can develop. The levels marked in red, green and blue are the various points which we can consider as High,poc and Low respectively . One can see the chart in lower time frame of 5 mins and 3 mins to take some intraday trades. A gap up needs to sustain and spend time whereas a gap down will show some bearishness. We are still in the range of 5th May daily candle and any move on either side should be good.
Comment:
The price has opened gap up and is sustaining. Any move above the resistance area may give a good intraday move
Comment:
No move above resistance. Sideways movement whole day