BANKNIFTY TRADE SETUP FOR THE DAY

INDEX SUMMARY

-BANKNIFTY LIKE NIFTY INDEX MADE A INSIDE BAR FORMATION ON FRIDAY
-EXPECT SOME INITIAL PROFIT BOOKING IN HDFC BANK ON MONDAY OPENING OR A BURST OF A RALLY
-IF HDFC BANK IS EXPECTED TO OPEN ABOVE 3% ON MONDAY WE WILL SEE A MOVE OF MINIMUM 300 POINTS
-ON THE OTHER HAND I EXPECT HDFC BANK RESULTS TO RUB OFF ON OTHER PRIVATE BANKS
-IF BANKNIFTY CONQUERS 24200 AND STARTS TO MOVE ABOVE 24225 WE WILL SEE A BURST OF 1000 POINTS ON THE INDEX
-BANKNIFTY ON HOURLY CHART SAW A DOUBLE TOP FORMATION BREAKOUT
-ITS TOUGH TO MAKE ANYTHING OF YESTERDAYS MOVE AS IT WAS A EXPIRY DAY
-AS EXPECTED DUE HDFC BANK LONG-BUILT UP FOR COMING DAY INDEX STARTED SEEING SHORT COVERING
-EXPECT SUPPORT ZONES TO HOLD THE MARKTET BETWEEN 22700-22930
-INDEX BOUNCED FROM THE ABOVE EXPECTED LEVELS
-CRUCIAL SUPPORT COMES @23030 NOW
-CRUCIAL RESISTANCE COMES@24200
-WAIT AND WATCH APPROACH FOR THE INDEX
-WAIT FOR DASH LEVELS


BANKNIFTY RESISTANCE FOR THE DAY
23200-23500-23725 (FUT)
BANKNIFTY SUPPORT FOR THE DAY
22930-22800-22700 (FUT)

BANKNIFTY FUTURES DASH TRADE

-IF INDEX STARTS TO TRADE ABOVE 24200

THEN,
BANKNIFTY FUTURES TRADE
BUY@24225
STOP@24025
TARGET@24525
QTY=200

-IF INDEX STARTS TO TRADE BELOW 23200

THEN,
BANKNIFTY FUTURES TRADE
SHORT@23190
STOP@23350
TARGET@22940
QTY=200


!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!HAPPY TRADING!!

SCREENSHOT