LEVELS MENTIONED IN THE CHART.
Disclaimer:
It is very important to do your own analysis before making any investment based on the chart mentioned here.
Trade wisely!
Guys BANKNIFTY make new high keep watch
if down keep watch the retest area and pull back again
Disclaimer:
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider ...
BANKNIFTY seems to have completed its pullback, buy with a tight stop-loss of 27540 and a Target of 27940.
Please take positions after consulting your financial advisors. We are not SEBI Registered.
Levels mentioned on chart.
additional data as of today: 26000 Put has been reduction in open interest whereas as slight OTM calls has seen increase in OI. Future OI is also decreasing signaling short unwinding. Any gradual increase towards 26600 could trigger short covering and take Bank Nifty to 27000 levels.
Banknifty break from consolidation could happen in a day or two. A break could lead bank nifty to 26000+ levels in the new up-leg
https://in.tradingview.com/x/bQYbnTCO/
Banknifty is in a crucial territory between a trend line and a channel bottom.
We will go for buying above 24500 or short below 24150. Until our trade is triggered we will wait and watch
Targets and SL will be updated once trade is triggered. Keep watching this space for more info.
Bank Nifty chart also seems like Nifty chart. So, expecting the movement will be on same direction. Don't enter into trade without having any breakout because the trend is neutral.
Note:
Trend - Neutral
Long - above 24400
Short - below 24050
