The breach of EMA 89 levels on daily chart and EMA 200 on 3H chart gave a strong positive bias to BANKNIFTY. Yesterday's view of sell on highs was negated due to breach of the 37000/37200 levels with heavy volume and swift move towards 38000. Heavy call covering on 37000, and call writing at 38000 has been noticed. Max pain levels have risen from 36500 to 37300, so still a correction till this level can be expected.
If 38000 is breached and sustained, a big move to 38800 is expected. 37000 will form a very good support now.
DISCLAIMER: I am not a SEBI registered investment advisor. The views expressed here are solely for educational purpose, and no trade should be taken on basis of this view.
If 38000 is breached and sustained, a big move to 38800 is expected. 37000 will form a very good support now.
DISCLAIMER: I am not a SEBI registered investment advisor. The views expressed here are solely for educational purpose, and no trade should be taken on basis of this view.