I told day before yesterday that banknifty will fall first and then in next day, it will again rise. Banknifty reacts exactly the same as I predicted.
BNF buy above 34370
Target:-34800
As per open interest, 34000PE added huge OI and 34500CE, 35000CE seems equal OI
which indicates a rally !!
Once if breaks and manages above 34560 will try to move 34800 levels
support:-34250, 34150 and 34000 (Strong support zone)
Banknifty index may open gap up above 34500 to test break out point @34627. Here watch Bank nifty has to sustain above it to move up towards 34800. Be alert if Bank nifty unable to hold above break out point then may slip towards 34300 and 34113.
BNF buy above 34370
Target:-34800
As per open interest, 34000PE added huge OI and 34500CE, 35000CE seems equal OI
which indicates a rally !!
Once if breaks and manages above 34560 will try to move 34800 levels
support:-34250, 34150 and 34000 (Strong support zone)
Banknifty index may open gap up above 34500 to test break out point @34627. Here watch Bank nifty has to sustain above it to move up towards 34800. Be alert if Bank nifty unable to hold above break out point then may slip towards 34300 and 34113.