Important Levels for 29-04-2021.
Sustaining above 33766 levels will test 34055 but a pullback till 33500 is expected as we have reached the VAH for the April series.
Sustaining below 33500 will test 33058.
A volatile expiry expected.
Banknifty Cmp 32742 dated 27.4.2021
1. Price action breakout above 32600 ready to form a "W"
pattern.
Buy for a tgt of 33200-33600-34200-35000
SL 30400.
It is just a view, pls trade at your own risk.
Important Levels for 27-04-2021
Gap Fill over and if today's low is not taken out early tomorrow, 32735 can be our next target.
31300 will be a strong support for this expiry.
Bank nifty looks positive and can be added from these levels. If we see the bottom there is a clear support with TDI diversion. The index broke its resistance today strongly and should continue its strong momentum. The first target is 33500 followed by 34100. Should follow a stoploss below 32000 on closing basis.
Case 1 : Gap up opening
If opens in supply zone as marked on the chart (red area) and shows rejection, go for selling with target of the marked demand zone(green area).
If breaks trend area, then go for buying after retest.
Case 2 : Gap down opening
Wait for price to come to demand zone, then go for buying opportunity on trend reversal patterns (Inverted h&s,...
