BANKNIFTY INDEX PRICE ACTION EXPECTATED FOR THE DAY

INDEX SUMMARY

-BANKNIFTY YESTERDAY MOVED IN A SINGLE DIRECTION
-WITH MIINOR SIDEWAYS ACTION INDEX CLOSED AT THE HIGHEST LEVEL
-AS EXPECTED BANKNIFTY MOVED IN OUR TRADING CHANNEL(1-HOUR CHART)
-BASED ON THE CHANNEL ANALYSIS BANKNIFTY CAN MOVE TILL 30K-31K
-REMEMBER NIFTY IS UP BY 8% FROM PREVIOUS ALL TIME HIGH
-BANKNIFTY INDEX IS STILL TO BREACH ITS PREVIOUS ALL TIME HIGH
-SO LONG LEGS ARE STRONG IN BANKNIFTY
-BANKNIFTY IS GEARING FOR HIGHER LEVELS
-TRADING INSIDE THE NEW BULLISH CHANNEL ON HOURLY CHART
-CONFIRMED IN LOWER TIME-FRAME ALSO
-COMING TO LEVELS 29350-29600 IS THE SUPPLY ZONE FOR NOW
-IT WAS TAKEN OUT YESTERDAY SO IT ACTS AS RESISTANCE TURNED SUPPORT
-EXPECT 30000 AS A CRUCIAL RESISTANCE
-ONCE TAKEN OUT AND IF INDEX MANAGES TO SUSTAIN ABOVE IT
-WE CAN SEE HEAVY SHORT COVERING PROPELLING THE INDEX BY 750-1500 POINTS
-MONTHLY EXPIRY WEEK SO I DONOT EXPECT ONE SIDE MOVE
-SO DONOT OVER TRADE


BANKNIFTY RESISTANCE FOR THE DAY
29780-30000-30580( FUT )
BANKNIFTY SUPPORT FOR THE DAY
29000-29300-29660( FUT )

SCREENSHOT


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