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BANKNIFTY - Trade Plan near ATH for 28-Dec-2023

Long
NSE:BANKNIFTY   Nifty Bank Index

**Scenario 1: Gap Up Opening Above 48350**
- *Case 1:* Anticipate rejection near 48423, and prices might trade sideways between 48280 and 48423.
- *Case 2:* If prices start trading below 48280 after facing rejection near 48400-48423, consider shorting for a target of 48128. Sustaining below 48100 may lead to further decline to the levels of 47826-47757.
- *Case 3:* If prices sustain above 48423 and trade above 48450, consider a buy trade for a target of 48579-48713. Keep SL below 48380.

**Scenario 2: Flat Opening Near 48200-48250**
- Prices may exhibit a zig-zag move. Trading is advisable only at levels after sustaining at the mentioned levels.

**Scenario 3: Gap Down Opening Below 48200**
- *Case 1:* Buy near 48128 for a target of 48307-48423 and 21579-48713 on sustaining above 48450.
- *Case 2:* Short near 48400 with SL of 48430 for a target of 48200-48100.
- *Case 3:* Buy above 48450 with SL of 48400 for a target of 48579-48713.

As always, it's crucial to be cautious while trading and consider your risk tolerance and financial situation. Market conditions can change rapidly, so staying updated with real-time information is advisable.

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