- Banknifty opened flat today.
- Moved sideways in the range I discussed
in yesterday's post until 2 p.m
- Broke the range to the downside.
- Now chances are high that tomorrow, it would be moving towards its next support levels around 40300-40200.
- Resistance now stands at 41150-41180 , hence if the index retraces some part of its move, then only it would be a good trade on the short side.
I would let go of the trade if it opens Gap down or sees an immediate sell-off.
*** Adjusted closing came above the support levels, discussed in yesterday's post.
- Moved sideways in the range I discussed
in yesterday's post until 2 p.m
- Broke the range to the downside.
- Now chances are high that tomorrow, it would be moving towards its next support levels around 40300-40200.
- Resistance now stands at 41150-41180 , hence if the index retraces some part of its move, then only it would be a good trade on the short side.
I would let go of the trade if it opens Gap down or sees an immediate sell-off.
*** Adjusted closing came above the support levels, discussed in yesterday's post.
