AkashVarma

Banknifty View for 15th October, 2020

NSE:BANKNIFTY   NIFTY BANK
As discussed yesterday, the major channel played a key role and from that we took support for a fantastic 400+ points

Now for tomorrow -
The market is definitely positive. The loan moratorium went in favour of the banks and we can see the response.

SGX Nifty is trading above 12k

Dow Jones Futures are in a mix due to mixed banking results

A close look to the 1 hr time frame can give us a clear view that 24k will be a tough zone.

For Gap Up Opening :- 24k will act as resistance and hence price action should be taken into account

Flat or Gap Down - We can enter the channel (15 min) and spend have a consolidation before breaking out.

Tomorrow being expiry, expecting heavy volatility .

Happy Trading!

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