#banknifty trade scenarios for coming session
#BNF: Last week scenario II was to trade breakout above 27150 zone to test 27500 range, it went there and higher than that as well, testing yearly highs and beyond it.
Now here are the potential trade scenarios to trade the coming week:
Prices manage to respect 27570 zones and we continue to move higher to test 27900 levels- which is a retracement of last weeks range and then look to trade a pullback from there.
A move below 27570 range to test the levels of 27450- if that holds and markets pullback we are in for some up move more.
In continuation of scenario II preferable scenario is a move into the shaded zone of 27330-27250 range and look to trade a pullback from there, and that is the favored scenario this week.
A contrarian scenario is markets to completely retrace this move and go on to test 27150-100 range all over again. Scenario has to be anyway tested first before that.
Detailed volumeprofile chart for futures is posted at twitter.com/powertra.../1023549739370012672
Now here are the potential trade scenarios to trade the coming week:
Prices manage to respect 27570 zones and we continue to move higher to test 27900 levels- which is a retracement of last weeks range and then look to trade a pullback from there.
A move below 27570 range to test the levels of 27450- if that holds and markets pullback we are in for some up move more.
In continuation of scenario II preferable scenario is a move into the shaded zone of 27330-27250 range and look to trade a pullback from there, and that is the favored scenario this week.
A contrarian scenario is markets to completely retrace this move and go on to test 27150-100 range all over again. Scenario has to be anyway tested first before that.
Detailed volumeprofile chart for futures is posted at twitter.com/powertra.../1023549739370012672
