As we discussed yesterday, Banknifty moved to upside and took a retrace and again continue the bullish momentum. By looking the chart and OI data Banknifty is highly likely to move in the up direction.
Reasons:
Verdict:
Bullish
Plan of action:
Sell 43900 PE and Buy 44000 CE
Reasons:
- BANKNIFTY break the range by making inverted HNS pattern. (Bullish)
- RSI has broken to upside and retraced. (Bullish)
- Price > EMAs (Bullish)
- EMAs golden crossover. (Bullish)
- PCR = 1.12 (Bullish)
Verdict:
Bullish
Plan of action:
Sell 43900 PE and Buy 44000 CE
Related publications
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.
Related publications
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.