BANKNIFTY Index has resistance near 54900 – 55000 range and if index crosses and sustains above this level then may reach near 55400– 55500 range.
Banknifty has immediate support near 54100 - 54000 range and if this support is broken then index may tank near 53600 - 53500 range.
The market may move in the direction where unwinding of OI takes place on the Monthly F&O expiry day. Volatility expected.
Trade closed: target reached
Gap up opening and traded in range between high near 54795, low near 54505 and closed near 54635.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
Request for follow on X @rkmaurya_ra
Survey: Help us shape better advisory & learning services forms.gle/KdZGVk727dX4Ummc6
Request for follow on X @rkmaurya_ra
Survey: Help us shape better advisory & learning services forms.gle/KdZGVk727dX4Ummc6
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.