Good evening all,
Mount 40000 achieved last week and reached almost 40600 to settle at 40300. What next? Between here and 40750 is a strong resistance zone and we wait for that to be breached if we are to see 42200. With a 14 day ATR of ~570 points, Monday again becomes important for us.
Also, the current level forms of 1000 points range between 40300 and 39300...
Bank nifty is making a wedge pattern, can go long as well as short.see levels and target.
tgt : 30000
If you want to trade upside then here are the levels :
tgt : 30780
Try to trade it downside because in upside R: R ratio is not considerable.