BANKNIFTY INDEX PRICE ACTION EXPECTATED FOR THE DAY

INDEX SUMMARY

-BANKNIFTY LIKE EXPLAINED YESTERDAY HAD ENTERED ITS DEMAND-SUPPLY ZONE
-AFTER SEEING YESTERDAY BOUNCEBACK ANYMOVE ABOVE 24875 WILL LEAD TO HEAVY SHORT-COVERING ON THE INDEX
-KOTAK BANK INITIALLY CARRIED THE BANKNIFTY INDEX
-LATER HEAVYWEIGHTS MADE A COMEBACK
-FOR NOW BANKNIFTY TRADING RANGE IS MARKED FROM 23900-24875
-ONCE BROKEN AND TRADED ABOVE INDEX CAN EXPECT A GOOD RALLY TOWARDS 25200-25500
-WAIT AND WATCH APPRROACH FOR THE 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

-IF INDEX CROSSES BELOW 24350

SHORT@24340
STOP@24450
TARGET@24180
QTY=200

BANKNIFTY RESISTANCE FOR THE DAY
24870-24740-24380 ( FUT )
BANKNIFTY SUPPORT FOR THE DAY
24200-23950-23800 ( FUT )

SCREENSHOT

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