Banknifty (BNF) finished as a strong red candle on daily chart with lower high, lower close but slightly higher low as compared to yesterday’s candle. So BNF was looking quite strong today but Nifty not supporting it too went downhill in 2nd half after European markets opened. Please check my video posted on youtube under name Market Movers India for slightly more but similar content. There are no clear cut selling areas for banknifty on 15 min charts but some obvious resistances which are marked. But for buying one can think of it at around 31000 level since Nifty at that point could also be near 11800. Please put a SL of around 75 points. So a combined buying can take BNF and Nifty up. Whether the rally can sustain and till what point remains a pertinent question though.
All the best. Happy trading.
All the best. Happy trading.