Hello traders, first of all a very happy new year to all of you . May this year brings you all good health and wealth.
1. Banknifty is clearly travelling in a channel and currently it has given a closing at the upper side. Any gap up opening above 35600 will straight away take it to 35900. But my positional target of 36800 at least in 5 days max, with sl of purple trend line(. Lower trendline of channel). In coming days buy banknifty on every dip if comes.
2. If banknifty opens gap down then don't look for put. Try taking call option in between 35300-400 zones for same target.
3. Banknifty will be weak only and only below 35050. Till then it's a buy on dip.
There are also harmonic pattern which is suggesting bullishness only. But here chart will become a little messy
Note: always look for those trade which has good risk to reward ratio like 1:4 atleast, so that even if u fail 7 times out of 10 ,u will still remain in Good profit. Best of luck.
1. Banknifty is clearly travelling in a channel and currently it has given a closing at the upper side. Any gap up opening above 35600 will straight away take it to 35900. But my positional target of 36800 at least in 5 days max, with sl of purple trend line(. Lower trendline of channel). In coming days buy banknifty on every dip if comes.
2. If banknifty opens gap down then don't look for put. Try taking call option in between 35300-400 zones for same target.
3. Banknifty will be weak only and only below 35050. Till then it's a buy on dip.
There are also harmonic pattern which is suggesting bullishness only. But here chart will become a little messy
Note: always look for those trade which has good risk to reward ratio like 1:4 atleast, so that even if u fail 7 times out of 10 ,u will still remain in Good profit. Best of luck.
