Tomorrow I am expecting a sideways range (30450-31000) in Bank Nifty. Also Bank Nifty is stronger than Nifty.
Bank Nifty closed very near to its demand zone @ 30450-30500. Tomorrow if Bank Nifty will sustain below this demand zone then I will go short and If it will sustain above this zone then I may short OTM call and Put Options.
30850-31120 is a no-trade zone for me.
Once Bank Nifty will sustain below 31850 then I may go short for the target of the next demand zone.
Once Bank Nifty will sustain above 31150 then I am short OTM put option.
ghstocktrading.webnode.comBANK NIFTY: WEEK-TECH-SHEET->17thFebruary2020 to 20thFebruary2020
Bank nifty moves around +832.85 pips from 17thFebruary2020 to 20thFebruary2020, in which bank nifty break last week 10thFebruary2020 to 14thFebruary2020 bottom 30776.10.
ghstocktrading.webnode.comBANK NIFTY: WEEK-TECH-SHEET->20th January2020 to 24th January2020
Bank nifty moves around -1309.95 pips from 20th January2020 to 24th January2020, in which bank nifty break last week 13th January2020 to 17th January2020 bottom 31445.50.
Strong resistance seen around R1 31002-31069 & R2 31635-31749.
BN @31115 which is R1 zone ...breaking the levels can move towards R2
use the levels to short with strict stops
Respect risk....Happy Trading