Mafie

BANKNIFTY

Mafie Updated   
NSE:BANKNIFTY   Nifty Bank Index
Important levels for BNF.

Below 42900. Consider as range break out.

43000 to 42900 strong support

If it breaks we can see
TRG - 1
TRG - 2

Disclaimer
Only for Educational Purpose
Comment:
I didn't take short entry. waiting for expiry
Comment:
If market have to move up. It has to break 43200.
If it breaks 42900 we can see TRG 1 and TRG 2

But i see a Half W pattern with bullish divergence.

IF market open between 43200 to 42900. I ll make straddle and sit
Comment:
Short 43000 CE @ 100 SL 50%
Comment:
Nifty is Holding 18000.
Comment:
Exited 43000 CE @ 45. not confident to hold the trade due to nifty.

Done for the week
Comment:
At least book half of your position. if it fall fine. if it reveres damage limitation. strong buying happened @ 18000 on DEC 29
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