NSE:BANKNIFTY banknifty looks bullish above 33841. 33800 call writters go for cover as well as 35000 writers. Likely to propel markets higher. OI data show high bearishness which might be a trap. 33841 is a good resistance as per price action and a 15min close above that will result in a change in downside structure. observe price action. take only next month expiry
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5min close below day low can take market to 34530-34500 levels
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intraday traders can book profits at day high if long side triggers