BANKNIFTY TRADE SETUP

25 Jun 2020

BANKNIFTY TRADE SETUP
-INDEX WILL OPEN LOWER
-BEARISH ENGULFING PATTERN VISIBLE ON THE CHART
-CRUCIAL SUPPORT PLACED AT 21200-21250
-INDEX CAN TEST ITS 20-50/EMA PLACED AT 20655-20750
-BANKNIFTY REVERSED JUST BEFORE TESTING ITS 100-EMA PLACED AT 22570
-PROFIT TAKING ON THE CARDS
-LOOKING FOR OPPORTUNITY TO "BUY ON DIPS"
-AGAIN TRADING THROUGH OPTIONS TO RIDE THE VOLATILITY
-BY THE SECOND HALF WILL START TO ACCUMULATE OPTIONS

BANKNIFTY RESISTANCE FOR THE DAY
21620-21470-21200
BANKNIFTY SUPPORT FOR THE DAY
21050-20870-20655

!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!SUGGEST OPTION TRADES TO NAVIGATE VOLATILITY!!
!!HAPPY TRADING!!

READ OLD POST ON INDEX AND SEE HOW WE ARE POSITIONED IN THE INDEX