Banknifty view for 1st October,2020

As planned yesterday, for a flat opening, it tested the support (21300) and we got a good trade of around 150 points

Later, it entered the range and stayed there till the end of the trading session

On the 5 min chart, a clear uptrend was formed since 10am. It got respected, till the end of the day

In the 15 min chart, we even got the break from the downtrend.

On the 1 hour chart, we can clearly see a wedge pattern forming, which means a strong uptrend once 21800 is cleared.

Dow Jones has made a stellar recovery after retesting it's support and will also help us to recover.

SGX Nifty is trading a lot higher and we can expect a gap up opening tomorrow.

Scenario's -
1) Tomorrow being expiry and the last trading day of this week, expecting the first half to be sober and simple with a continuation of a range bound market
Then, in the second half we will decide a trend for Monday.
Expecting to follow the global markets and maintaining a positive bias

2) Oct 5th is the moratorium hearing by the Supreme court and hence wouldn't suggest any positional trades for monday.

Happy Trading!
Jai Hind


thank you bro
AkashVarma suhari080619
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