BankNifty Diairies 09/07/18

BankNifty is trading at 26680 at 11.30AM, Gap up of 150 points in early trades.

What next for the day – BNF trades above 26660- next destination -26770-26880-26960

But when today or by Thursday or Friday is the question mark?

or maybe we retest 26460 back?

is it a trap or breakout?

Nobody knows markets are not for prediction!

My Research says close above 26660 fo 2 -3 days, we can test 26920-960, if the markets really breakouts, we could see upper levels.

1st Resistance is 26660-final resistance is 26960 -close above these levels – will make bulls happy for the monthly expiry game

Any dips – bears will not come back to contest unless markets close below 26460 for a day or two.

This weekly expiry magic number is 26620. Close below this or above will tell weekly expiry range.

Need to track markets day by day.

I would track 26800 Call Option – below 90 close is an indicator for bulls, that it is not yet ready for raging upside, anything above 90 close for Monday, Tuesday, wednesday – will show magic by Thursday!

 

All the Best

Trade less, Trade form Savings money

Sagar U.S