BANKNIFTY The highest Call and Put OI is built up at 58000 strike which will act as resistance as long as it is not broken and Index has downside risk as long as it is below 57500.
The upward moment may lead the Index to 58200 – 58300 resistance range in upward momentum and if the index crosses and sustains above this level then may reach near 58900 – 59000 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
Open flat with low near 57255 and further close to high near 57770.
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
Survey: Help us shape better advisory & learning services forms.gle/KdZGVk727dX4Ummc6
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.