BANKNIFTY INDEX PRICE ACTION EXPECTATED FOR THE DAY
INDEX SUMMARY
-BANKNIFTY HAS BROKE ITS RANGE FROM 21130-21720 -SET UP LOOKS WEAK ON THE CHARTS -ACCORDING TO THE OPENING EXPECTED BANKNIFTY MAY OPEN LOWER -21950 IS CRUCIAL SUPPORT IF STARTS TO TRADE BELOW THAT 21660 CAN BE ON THE CARDS -ITS MONTHLY EXPIRY WEEK EXPECT HUGE VOLATILITY -ON THE UPSIDE BANKNIFTY NEED TO START TRADING ABOVE 22280 TO MOVE HIGHER -IF THAT HAPPENS WE CAN EXPECT THE MARKET TO TRADE WITH A RANGE -ON DAILY CHART BANKNIFTY HAS BROKEN TIS TRENDLINE -ALONG WITH A "INSIDE BAR" BREAK -BANKNIFTY WITH PREMIUM OF 50 POINTS I STILL EXPECT SHORTS WILL BE BUILT TO COVER THOSE PREMIUM -WAIT FOR LONGS ABOVE 22280 ONLY AND FRESH SHORTS BELOW 21950 ONLY
BANKNIFTY RESISTANCE FOR THE DAY 22830-22720-22450 ( FUT ) BANKNIFTY SUPPORT FOR THE DAY 22280-21100-21960 ( FUT )
SCREENSHOT
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