#Banknifty directions and levels for July 16th.
Bank Nifty:
Bank Nifty maintained a range market in the previous session and may continue that today. We can try a range breakout trade: that's if the market breaks the previous day's high, we can expect a swing high to 52,878. On the other hand, if it declines, we should wait for a breakout below 52,263. If that happens, it may fall further to a swing low of 52,088.
Even if it breaks either upside or downside, the premium might not increase much. So please take your positions based on your knowledge.
Bank Nifty maintained a range market in the previous session and may continue that today. We can try a range breakout trade: that's if the market breaks the previous day's high, we can expect a swing high to 52,878. On the other hand, if it declines, we should wait for a breakout below 52,263. If that happens, it may fall further to a swing low of 52,088.
Even if it breaks either upside or downside, the premium might not increase much. So please take your positions based on your knowledge.
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