Note- The below plan is for the monthly expiry, not for the weekly expiry
BANKNIFTY Closed at ATH (All Time High)
As expected ATH has happened in August Expiry – Ref(May 13th Post)
Nobody knows, let Mr. Market show us the path, we shall follow, strategize and trade accordingly!
This Expiry, the second half(17th-29th Aug) is very important – as per my analysis, there would be volatile, if global markets crash -our markets can see the vertical crash,
If global markets recover, our markets too could see the record level on the upside
Point is, is it rally or crash! Million Dollar question -With No answer!
Magic Number for the month is 27390
Above this level, BNF positive -Next Resistance is 27540,27680,27750-790,27820-27880,27920-27980
Support – 27290-27180-27060-26960
Bulls need to hold 27390 -27180 – Above these levels, bulls will have control
Bulls will have more power only if they close above 28080 for a week or two decisively.
Till then range from 27390-28080 is slippery (Anything can happen) TOO AND FRO
Bears need to hold 27980-28080- Below these levels, bears will be in the contest , that doesn’t mean they will have control -they are alive, but not living on their mercy
Bears to come back – Need a weekly or two weeks close below 26960 decisively.
Lets market perform, we shall trade according to the plan
All the best
Trade From Savings money, trade less
Disclaimer – This blog opinion is to improve me and understand myself
#sagarus #ussagar, #Nifty50 #banknifty, #iamstocktale, #sagaryouyes, #youyessagar