On 12th January Banknifty open gap up and and traded within a range.
39000 is a strong resistance that need to breakout and banknifty have to sustain above the level for further up move.
Expiry setup
Buy above 38850
Target 38970
Sell side there is no proper price action but one can sell below 38600 for the target of 38400.
Below 38400 banknifty can correct more.
As you can see bullish flag pattern in the chart you can play buy move above 38850.
39000 is a strong resistance that need to breakout and banknifty have to sustain above the level for further up move.
Expiry setup
Buy above 38850
Target 38970
Sell side there is no proper price action but one can sell below 38600 for the target of 38400.
Below 38400 banknifty can correct more.
As you can see bullish flag pattern in the chart you can play buy move above 38850.
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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.
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.