BANKNIFTY INDEX PRICE ACTION EXPECTATED FOR THE DAY

28 Sep 2020

INDEX SUMMARY

-BANKNIFTY IS EXPECTED TO BE VOLATILE TODAY AS SUPREME COURT HEARING TODAY ON INTEREST ON INTEREST
-NOW THE INDEX HAS ALRADY FACTORED THE WORST OUTCOME WHICH MAY RESULT IN NEGATIVE SENTIMENT FOR THE FINANCIALS TODAY
-BUT NOT MUCH AS BANKNIFT HAS CRASHED MORE THAN 4800 POINTS FROM THE TOP
-NOW IF HEARING GOES IN IN FAVOR OF THE BANKS OR THE BEST CASE SCENARIO IS THAT THE "GOVT" TAKES A THE HIT
-SENTIMENT WILL TURN POSITIVE AND BANK NIFTY CAN SEE HEAVY SHORT-COVERING
-INDEX WILL BE RE-ENTERING ITS DAILY CHART RANGE OF 2000 POINTS IF MOVES ABOVE 21120
-CRUCIAL SUPPORT @20800
-CRUCIAL RESISTANCE @21450
-AVOIDING INDEX TRADING TILL THE HEARING IS OVER

SCALP TRADE WITH DASH LEVELS
BULL SCENARIO
-IF HEARING IN FAVOR OF BANKS
-SUPREME COURT ORDERS GOVT TO TAKE THE INTEREST HIT
-IF BANKNIFTY CROSSES ABOVE 21450

BANKNFITY FUTURES TRADE
BUY@21480
STOP@21280
TARET@21780
QTY=200

BEAR SCENARIO
-IF BANKS ARE ORDERED TO TAKE THE HIT
-GOVT DOES NOT HELP OUT
-IF INDEX CROSSES BELOW 20800

BANKNIFTY FUTURES TRADE
SHORT@20780
STOP@20980
TARGET@20550
QTY=200

BANKNIFTY RESISTANCE FOR THE DAY
21666-21450-21120 ( FUT )
BANKNIFTY SUPPORT FOR THE DAY
20900/850-20600-20350 ( 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!!

28 Sep 2020

Trading ditutup: target tercapai

BOOKED BANKNIFTY FUTURES PROFIT @21650
ENTRY FOR SCALP TRADE @21480
TOTAL PROFIT
=170*200
=34,000