BANKNIFTY INDEX PRICE ACTION EXPECTATED FOR THE DAY

26 de out. de 2020

INDEX SUMMARY

-BANKNIFTY IS IN A STRONG UPTREND
-PENNANT FORMATION ON HOURLY CHART
-WAITING FOR A DECISIVE BREAK AFTER A GOOD CONSOLIDATION
-V SHAPE RECOVERY VISIBLE IN DAILY CHART
-INDEX IS FORMING A BASE ABOVE 24200 IS A STRONG SIGNAL FOR BETTER THINGS TO COME
-EXPECT HIGHER IMPLIED VOLATILITY TILL NOV 4TH
-WE ARE TRADING ABOVE 24200 FOR 4 DAYS NOW
-YESTERDAY INDEX MADE AN INSIDE BAR
-INDEX SUSTAINING ABOVE THIS LEVELS INDICATE STRENGTH
-WORRIED ABOUT THE BANKNIFTY PREMIUM SHOULD COME DOWN FOR A GOOD SMOOTH RALLY
-CRUCIAL SUPPORT COMES IN @24200
-CRUCIAL RESISTANCE COMES IN @24850-24870
-NO DASH TRADES TO DAY 24850-24870
-WAIT AND WATCH APPROACH IN INDEX

BANKNIFTY FUTURES DASH TRADE

-IF INDEX CROSSES ABOVE 24870

BUY@24875
STOP@24380
TARGET-1@25080
TARGET-2@25200
TARGET-3@25350
QTY=200

BANKNIFTY RESISTANCE FOR THE DAY
25200-24870-24740 ( FUT )
BANKNIFTY SUPPORT FOR THE DAY
24380-24200-23950 ( FUT )

!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
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