BANKNIFTY INDEX PRICE ACTION EXPECTATED FOR THE DAY

20 Okt 2020

INDEX SUMMARY

-BANKNIFTY CROSSES 24200 FINALLY
-AGAIN LIKE NIFTY INDEX INSIDE BAR PATTERN BREAKOUT FOLLOWED BY MARABUZO CANDLE
-BUT UNLIKE NIFTY BANKNIFTY INDEX MANAGED TO TAKE OUT ITS PREVIOUS HIGH
-I HAD EXPLAINED MANY TIMES BEFORE THAT I EXPECT BANKNIFTY TO OUTPERFORM NIFTY IN THE FUTURE
-ONLY HURDLE IN THE INDEX IS THE HIGH PREMIUM
-THOSE WHO FOLLOW ME KNOW THIS CAN BE A TRAP FOR THE WEAK HANDS IN THE MARKET
-PREMIUM ARE SO HIGH THAT A SHARP 250-300 POINTS CANNOT BE RULED OUT IN THE INDEX
-BUT THIS CORRECTION IS A BUYING OPPORTUNITY
-I EXPECT THE INDEX TO TRADE ANOTHER 1000 POINTS ON THE UPSIDE
-CRUCIAL SUPPORT NOW KICKS IN @24200
-CRUCIAL RESISTANCE COMES IN @24700
-WAIT AND WATCH APRROACH IN THE BANKNIFTY INDEX


DASH TRADE IN BANKNIFTY FUTURES

-IF BANKNIFTY CORRECT TO 24200

BANKNFITY FUTURES TRADE
BUY@24210
STOP@23910
TARGET@24710
QTY=200

BANKNIFTY RESISTANCE FOR THE DAY
25200-24740-24380 ( FUT )
BANKNIFTY SUPPORT FOR THE DAY
24200-23950-23540 ( FUT )

SCREENSHOT


!!PLEASE NOTE THE ABOVE INFORMATION IS FOR KNOWLEDGE ONLY!!
!!TRADE ACCORDING TO YOUR RISK PROFILE!!
!!HAPPY TRADING!!
!!PLEASE LEAVE LIKE!!
!!FEEL FREE TO CLEAR DOUBT IN THE COMMENT SECTION!!