Banknifty in Range Friday Levels

9 Mar 2023

Bank NIfty in range previously it traded in this area of 41000 - 41800 for 14 days, expecting the same to continue until it finds a clear direction.
Overall Structure in range of 40000 to 42000.

Levels to trade on friday.

41200 below PE for targets of 41000 and 40900(This is risky currently at demand zone so be cautious going short)
41300 above CE for targets of 41500 and 41700
41100 to 41000 Look for CE with price action for targets of 41300 to 41500.

Currently in demand zone if i were trading at these area i look for CE with price action at current levels.

Any gap down or gap up wait for direction.

10 Mar 2023

Catatan

40500 is major support only below price sustains go short or wait for retracement to 20 EMA in 5 min time frame.

10 Mar 2023

Catatan

Now price is close to 20 EMA in 5 time frame look for entries with price action here PE

10 Mar 2023

Catatan

After retrracement to 20 ema in 5 min time frame it made kind of tripple top then fell 190 points from there.

10 Mar 2023

Catatan

Next Entry would be proper break out of day low other wise leave it for the day already fell 2 percent today.

10 Mar 2023

Trading ditutup: target tercapai

Trade closed i covered 50 points in option 40500 PE at 20 EMA entry 5 min time frame and near to day low exit.