BANKNIFTY [24th June 2020]
The index broke above 22000 with a short covering rally taking it up to 22300. Traders should remain cautious and watch out for any weakness in the index at 22400, which could be a major supply zone giving an ideal level to short owing to some profit booking.
On gap up, if sustains above 22400, the index will continue with momentum towards 24400 (50% retracement) with no major hurdles in between.
On gap up/down, if unable to breach 22400, the index could slip to 22000. A breach of the support could lead the index to 21500 ultimately.
On gap up, if sustains above 22400, the index will continue with momentum towards 24400 (50% retracement) with no major hurdles in between.
On gap up/down, if unable to breach 22400, the index could slip to 22000. A breach of the support could lead the index to 21500 ultimately.
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