Hello traders,
We will keep the analysis simple. Clearly banknifty as of now travelling in a downward parallel channel. So finding bearish trades are much favourable.
1. Positional trade will be if any time banknifty closes below 36830 then straight away targets will be 35600-800. With sl of 37050.
2. If banknifty opens flat or gap up try taking put position near 37500-600, sl will be upper trendline of channel. If sl gets hits then don't take call. Let it close above one day then we will take call. But if it again enters inside the channel then again short for 2000 points.
3. If banknifty opens gapdown then it is better to wait for closing below 36830. Or let it give a bounce towards upper trend line.
Do see previous analysis as well. Please go through my profile. Do give likes and give valuable comments.
We will keep the analysis simple. Clearly banknifty as of now travelling in a downward parallel channel. So finding bearish trades are much favourable.
1. Positional trade will be if any time banknifty closes below 36830 then straight away targets will be 35600-800. With sl of 37050.
2. If banknifty opens flat or gap up try taking put position near 37500-600, sl will be upper trendline of channel. If sl gets hits then don't take call. Let it close above one day then we will take call. But if it again enters inside the channel then again short for 2000 points.
3. If banknifty opens gapdown then it is better to wait for closing below 36830. Or let it give a bounce towards upper trend line.
Do see previous analysis as well. Please go through my profile. Do give likes and give valuable comments.