as we have already discussed Banknifty has given breakout. and yesterday it retested the 44300 level and again bulls pumped the bulls side. Now I am expecting it to move bullish whole this week. Target 1 will be 45561, then some consolidation and it will move to all time high 46250.
Reasons:
Verdict:
Bullish
Plan of action:
Keep holding the previous position. you can add move call buy once bull intraday trend confirms.
Reasons:
- Price has already broken out 2 month breakout with Inverted HNS. (Bullish)
- RSI showing bullish diversion. (Bullish)
- Bullish Golden crossover successful. (Bullish)
- Inverted HNS breakout and successful retesting of neck-line. (Bullish)
- According to OI, PCR: 0.97 (Bullish) with max pain = 44800 or 45000.
- above side only 45000 is having significiant resistance, if it's taken out bulls path will be clear for target 1 (45561)
Verdict:
Bullish
Plan of action:
Keep holding the previous position. you can add move call buy once bull intraday trend confirms.
