Banknifty trade for tomorrowBnaknifty is following great price action brearkout can make new all time high and breadown below zone can give good target upto 37600 i.e. 200 ema
BANKNIFTY-TRADE
ONGC MONTHLY CHARTWe have a long term view in ongc ,as you see in monthly chart it's try to break trend line and a previous swing low ...so we believe if its sustain above 125 then you can make a position for 180 and 220 rs target in next 2-3 years.
Scope for Bank nifty rally!!!!BANKNIFTY will make a rally of about +500 POINTS due to RBI partially lifting ban on HDFC for new creditcard distribution. This seems to be positive news for Hdfc banks.
Trade Set up 30586.60 is good support in spot. I feel bnf will touch 31000 in 2 days. Keep an eye on the upside trend line. A small trader can buy 30800 CE 17 Dec only 2 lots. Book one at 30836 spot and ride the other if the rally continues. Exit today if the target does not come. Buy only 1 lot if the market takes support at 30634 and other if day high is broken. This is a unique market where bears are using a ladder to go down but bulls are using a rocket to go up.
Trade Set up Short below 29473.50 if 15 min candle closes below it for 300 points positional. 2 reasons. 30 min breakdown and support breach. Long trade in bank nifty will come only after closing above 30k with volumes. Keep eye on IV of put options. don't buy put if IV is high.
VIEWThere is no proper trade in bank nifty accept scalping for a couple of days now. I will short only when 15 min candle closes below the 29529 spot. For a long trade, I feel let this expiry get over then the only big move is possible.
VIEWSHort the market only when a 15 min candle closes below the 29373 spot for 250-300 points. Otherwise looks like a premium eating day. if u want to play safe sell options above and below the shown levels. Also, keep an eye on the resistance trendline.
Banknifty Here things to analyze are there is divergence from past some days ..now there is great resistance too ..so there are possibilities of market gap up and going down towards 22850 .
This is just for educational purposes how analysis can be done ..
#SEQUENT #SOFTWARE #NSE #NIFTY #BANKNIFTY #INDIA #COVID19 #TRADEA Strong Up side potential observed
Target will be 97-99
More than 10% in around 1 week
SL at 85.5
There are nothing beyond candles
