Surely this won't open flat tom, Still sell below 37690 partially. Then add more below 37600 level, for the target of 37400-37300.
Upside Buying only above breakout of 38000 which is a very strong resistance for BN. The target upside will be 38200-38300. Fib retracement near 0.618.
Again market will be very volatile India Vix is at 18.8.
Trail SL Manage position...
Simple analysis. Nifty looks bearish it almost tested 0.618 Fib level twice. And looks like Double bottom confirmation.
Short below 17690 can expect very good R:R since the market looks in bearish sentiment. Nifty should sustain above 17800 for buying. Buying target 17900.
Maintain trailing SL and manage risk well.
Immediate resistance 38350. We can go long only above 38360.
Short after a breakout at 37580-37550.
Keep strict SL and 1:1 R:R for tomorrow. market can be very volatile
NSE:BANKNIFTY R for tomorrow. market can be very volatile.
Avoid trading tomorrow between this range.
Trade after the breakout.
My view is bullish Since we saw last hour short-covering and heavy buying happened.
The market will be very volatile tomorrow. VIX is around 18.5 Up 2.67%.
Buy above 17380 breakouts and retest.
Sell below 17280 breakouts and retest.
I mentioned no trading zone because there we have immediate support.
I'm Bullish on Nifty Since it's in a range and gave close near upside of range.
Formed Bearish channel, Also a Head & Shoulder pattern. A breakout above 5220 Levels can give you a great trade.
Target 1: 5520, Target 2: 5608, Target 3: 5702.
Trade only after the confirmation and as per your own risk.