Banknifty Weekly Analysis - Jan 7th Expiry
As long as Banknifty is trading in between the purple range, I am not expecting any big movement as such and hence will go for scalping trades if any.
Let's wait patiently for the market to breakout/breakdown of the range.
Nifty has already made an all time high, which is a good indication that Banknifty might also touch all time high before a big correction which is still pending.
However, I will be more aggressive towards selling rather than buying because the market is already too overstretched.
Don't rush.
Wait Patiently.
Preserve your Capital.
Cheers.
Let's wait patiently for the market to breakout/breakdown of the range.
Nifty has already made an all time high, which is a good indication that Banknifty might also touch all time high before a big correction which is still pending.
However, I will be more aggressive towards selling rather than buying because the market is already too overstretched.
Don't rush.
Wait Patiently.
Preserve your Capital.
Cheers.
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