Here I'm publishing my views on BANKNIFTY for next-day trading as per the closing of 16th June 23
This is Just an Idea based on chart analysis as per the data, you may disagree or agree...
1) If BANKNIFTY is trading between the range 43759 to 43908 then the day is for Option Seller only and all the Option Buyers are free for searching the opportunity based on breakout or breakdown
2) If BANKNIFTY opens above the range 43759 to 43908 and does not cross 44085 then Option Buyers wait for the breakout above 44085 and enter with an RSI above 65 confirmation in a 15M time frame, The possible resistance is already placed in a picture [ 44219 / 44344 / 44494 ]
3) If BANKNIFTY opens below the range 43759 - 43908 and does not close below 43633 then Option Buyers wait for the breakdown below 43633 and enter with an RSI below 35 confirmation in a 15M time frame, The possible supports is already placed in a picture [ 43397 / 43242 / 43077 ]
This is only the view on BANKNIFTY not advice to play like, please trade with your own knowledge and strategies you follow...
The analysis in this article is purely for Educational Purposes not for trade setup or advice to trade and based on my personal experience I'm just sharing my views on BANKNIFTY on this platform...
This is Just an Idea based on chart analysis as per the data, you may disagree or agree...
1) If BANKNIFTY is trading between the range 43759 to 43908 then the day is for Option Seller only and all the Option Buyers are free for searching the opportunity based on breakout or breakdown
2) If BANKNIFTY opens above the range 43759 to 43908 and does not cross 44085 then Option Buyers wait for the breakout above 44085 and enter with an RSI above 65 confirmation in a 15M time frame, The possible resistance is already placed in a picture [ 44219 / 44344 / 44494 ]
3) If BANKNIFTY opens below the range 43759 - 43908 and does not close below 43633 then Option Buyers wait for the breakdown below 43633 and enter with an RSI below 35 confirmation in a 15M time frame, The possible supports is already placed in a picture [ 43397 / 43242 / 43077 ]
This is only the view on BANKNIFTY not advice to play like, please trade with your own knowledge and strategies you follow...
The analysis in this article is purely for Educational Purposes not for trade setup or advice to trade and based on my personal experience I'm just sharing my views on BANKNIFTY on this platform...