Banknifty has a supply zone near 17840-740 range. This will be a good area to take a pull back long with SL and reversal below 17740. That is going to be the plan for a low risk entry. On the upside will take a long of 17950 is cleared convincingly. First target zone will be near 18120-150 zones.
Trade active:
BankNifty Futures marked a low near the support zones mentioned and traded good part within the support band. For now no Trade action and the plan from yesterday remains as is
Order cancelled:
BankNifty continues to be in trading range we discussed. Today it failed to clear any of the levels.
17940 on the upside with a lower level of 17880 and on the downside the levels of 17780. Today markets attempted a failed breakout but failed to clear that level.
Both the levels are going to be the key
Idea will be to sit in the sidelines and wait for a clear of these levels. Dont loose too many trades trying to trade during the range bound conditions. until you can scalp your way to some smart pull back trades.
17940 on the upside with a lower level of 17880 and on the downside the levels of 17780. Today markets attempted a failed breakout but failed to clear that level.
Both the levels are going to be the key
Idea will be to sit in the sidelines and wait for a clear of these levels. Dont loose too many trades trying to trade during the range bound conditions. until you can scalp your way to some smart pull back trades.
