Expiry Day 17th June , GAp down start, volatile market.
Option writters already eaten all the premiums on Call side , Now they will come to Eat the Put side premiums after gap down.
#Banknifty was in a range of 35091 to 35310. after parallel channel breakout yesteray now these fibonacci levels will be important to watch.
Yesterday Nifty was in a Range 15840 to 15900, the trend line range is expanding 15730 to 15937. 15832 fibonacci support will be important to watch if it breaks down it can retest the next support.
If breaking out the channel and sustain then going up, or if remain in the channel then coming back to the support.
lower price is rejected as the pin bar was showing buyers are active, trend line break shows the confirmation. we can expect a upside move from here.
Britania is showing upside potential to retest its previous resistance.
The trend line support is broken but still there is a strong support around 2500, buyers are taking long poition with a stoploss below 2500, so it can go up to retest the 2600 levels. and if it fails in going upwards and breakdown the 2500 level then the stoploss will get triggered and it can fall more towards 2468.
ICICI Bank’s Rs 3,000-crore infra bonds issue adds to economic rebound buzz India’s largest private sector lender by asset size, Friday raised Rs 3,001 crore via infrastructure bonds for the first time in four years reflecting the emerging optimism in building ports and roads in an economy that is expected to rebound steeply as vaccinations and slowing infections...
Research about the stock Fundamentally if you want to invest in it
BUY when its taking support, SELL when its facing resistance. Take the stop loss if it breaks out and reverse you position, your losses will get recovered. This strategy is tried and tested and it works.