BankNifty 28 February plan
Bank Nifty My Trade plan for 28Feb
Resistance 37000 and 37200 levels
Support 36800 as support in the event of a big gap up and on lower side 36300/ 36000 levels
DMA 36875 area is very good. any closing above DMA 36875 area will see strong bullish reversal up move
(Have been inactive as I moved to Singapore)
BN has formed a Flag and pole pattern in the last trading session to give a very bullish trajectory
The war-affected just one trading session so far, if not for the war news indices were on a bullish path. Therefore war news gave a correction.
1. We are expected to open with a big gap up on Monday considering the SGX Nifty and Dow jones closing strongly. Therefore will look for long trades but entering immediately on a big gap up will be risky.
I will plan to Trade on pullback and support move confirmation
(The gap up on 25th Feb was good to take since the 1st 15-minute candle breached 35800 and 36000 levels and closed bullish)
2. Levels will be key to watch and price action at these levels. Key levels to watch
37200/37000
36800 as support for big gap up
36300 support
36000 support
Resistance 37000 and 37200 levels
Support 36800 as support in the event of a big gap up and on lower side 36300/ 36000 levels
DMA 36875 area is very good. any closing above DMA 36875 area will see strong bullish reversal up move
(Have been inactive as I moved to Singapore)
BN has formed a Flag and pole pattern in the last trading session to give a very bullish trajectory
The war-affected just one trading session so far, if not for the war news indices were on a bullish path. Therefore war news gave a correction.
1. We are expected to open with a big gap up on Monday considering the SGX Nifty and Dow jones closing strongly. Therefore will look for long trades but entering immediately on a big gap up will be risky.
I will plan to Trade on pullback and support move confirmation
(The gap up on 25th Feb was good to take since the 1st 15-minute candle breached 35800 and 36000 levels and closed bullish)
2. Levels will be key to watch and price action at these levels. Key levels to watch
37200/37000
36800 as support for big gap up
36300 support
36000 support
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