Hello traders,
Previous session banknifty exact above the important resistance level and managed to close on higher level, which shows market has gained some strength, but still it's not in bullish zone. So
1. If banknifty opens gap up above 36830 ,then it's no trading because premium eating will carried out till 1 pm. Even if banknifty gives breakout above red trend line , then also avoid trading. Let it close above it. We will turn bullish from there, but let close above red trend line.
2. Basically banknifty is in no trading zone. Good short is only and only below 35750 for long targets.
3. If banknifty opens gap down or flat and goes down then try taking call position near pink trend line with sl of 35750 for 1000 point target. Buy call of next expiry there.
Do go through my profile. Risk to reward is our priority.
Previous session banknifty exact above the important resistance level and managed to close on higher level, which shows market has gained some strength, but still it's not in bullish zone. So
1. If banknifty opens gap up above 36830 ,then it's no trading because premium eating will carried out till 1 pm. Even if banknifty gives breakout above red trend line , then also avoid trading. Let it close above it. We will turn bullish from there, but let close above red trend line.
2. Basically banknifty is in no trading zone. Good short is only and only below 35750 for long targets.
3. If banknifty opens gap down or flat and goes down then try taking call position near pink trend line with sl of 35750 for 1000 point target. Buy call of next expiry there.
Do go through my profile. Risk to reward is our priority.