Banknifty has clearly given breakout of falling parallel channel. As of now support has raised towards 38030.
1. If market opens gap up which it seems so, then important level is 38850-860 zones. If market opens below it then watch out for rejection from there, take put with sl of 38880, then for a target of 38450.
2. If market opens above 38850, then wait for market to settle over 38850 for one hour, then only take call. For a target of 39500.
3. If market opens gap up above 38850 and again if it goes below 38800 then also take put with sl of 38900, for target of 38400.
4. If market opens flat to gap down then I will update chart during market hours.
Risk to reward is the most important thing. For better understanding please go through my profile.
1. If market opens gap up which it seems so, then important level is 38850-860 zones. If market opens below it then watch out for rejection from there, take put with sl of 38880, then for a target of 38450.
2. If market opens above 38850, then wait for market to settle over 38850 for one hour, then only take call. For a target of 39500.
3. If market opens gap up above 38850 and again if it goes below 38800 then also take put with sl of 38900, for target of 38400.
4. If market opens flat to gap down then I will update chart during market hours.
Risk to reward is the most important thing. For better understanding please go through my profile.