BankNifty Futures Trading at 26360 at 10.30 am, This level is a make or break level for the bulls for the coming few days, if it sustains above these on the closing basis for next few trading session, markets may edge towards 26570-26660-26720-70-26880-26960 for the coming weekly expiry.
Bears should protect 26490 for the week on the closing basis if they BNF may retest the levels of 26360-26250-26120-25980-20.
Drawdown depends upon global markets, they have corrected for last few weeks, if they see a downside for the next week too, Our markets could be in a free fall mode. If they take support, we will skyrocket for next few days.
Today I would track 26500 call options trading now at 132, it should not trade below 120 , for at least 1 hour, if it trades above, we could see 160-190-220.
Trade less -Trade form Savings money
All the best