Banknifty view is BEARISH for this week
Banknifty looks Strong when comparing with Nifty, however my view in BNf is also BEARISH. We can expect up move only if 42700 is taken out on the higher side.
My trade setup in BNf for tomorrow is - Incase of Gap up open and any rejection around 42695 I will go Short for Targets 42500 & lower levels.
Any close above 42710, I will go long for 43000 Target.
I'm Not SEBI Registered analyst, so do your own analysis before taking entry.
Demand and Supply Zones - When price breaks the zone opposite side, Demand zone will become Resistance and Supply zone will become Support.
For Best entry, Wait for first 5m candle close. Go long when High breaks, take Short when low breaks. Keep SL high/low of the first 5m candle.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
Banknifty looks Strong when comparing with Nifty, however my view in BNf is also BEARISH. We can expect up move only if 42700 is taken out on the higher side.
My trade setup in BNf for tomorrow is - Incase of Gap up open and any rejection around 42695 I will go Short for Targets 42500 & lower levels.
Any close above 42710, I will go long for 43000 Target.
I'm Not SEBI Registered analyst, so do your own analysis before taking entry.
Demand and Supply Zones - When price breaks the zone opposite side, Demand zone will become Resistance and Supply zone will become Support.
For Best entry, Wait for first 5m candle close. Go long when High breaks, take Short when low breaks. Keep SL high/low of the first 5m candle.
Refer the chart for detailed Intraday Support and Resistance levels.
Happy Trading!!
