Volatile start for the week!
Gap up- downward trend in the first half - closing in positive.
Currently, we can see a symmetrical triangle and breakout/down can happen, with the immediate range of 16587 and 16373.
21 and 55ema are also closing in.
Option buyers should stick to buying ATM strikes and should maintain tight SL
Where nifty is making new ATH almost daily, bank nifty lacks that momentum, but it is slowly picking up with almost all big banks performing well.
We can see a triangle formation in BNF and the probability of breaking out on the upside are more than that of the downside.
Lines marked in pink are the potential targets for it!
Small-cap counter which is showing bullish momentum and is in the trajectory to cross its ATH!
one can take a small position in this!
Keep risk management in mind while trading in stock markets.
small-cap stocks can either make or break your portfolio!