BANKNIFTY Highest Call and Put OI is at 58500 strike which will act as make or break level and downside risk is expected as long as Index is below 58500 level.
The upward moment may lead the Index to 58100 – 58200 resistance range in upward momentum and if the index crosses and sustains above this level then may reach near 58600 – 58900 range.
On the contrary, The downward moment may drag the Index to 56700 – 56600 support range in downward momentum and if this support is broken then the index may tank near the 56000 – 55900 range.
Trade closed: target reached
Gap down opening and further tank to low near 56825 then recovered to high near 57220 with close near 57170.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
Request for follow on X @rkmaurya_ra
Survey: Help us shape better advisory & learning services forms.gle/KdZGVk727dX4Ummc6
Request for follow on X @rkmaurya_ra
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.