Bank nifty expiry trades and targets - 14/8/24

Hello Everyone. The market was in a bearish mode today. If the market opens flat then we can see continuation of trend. If it opens gap up then we need to see the resistance level to break before looking for CE trades. If it opens gap down then look for PE trades after support zone is broken. Let the market settle in first 15 to 30 minutes then look for directional trades. Book profits every 100 points as we are getting very few trending moves.

Nota

Bank nifty has strong support at 49630 to 49780. Until it broken there are no PE trades. If you have doubts of trend reversal look at higher time frame and look at previous candle high or low is broken by the present candle. If none then its sideways, if low is broken then look for PE trades and if high is broken then look for CE trades. Sideways take confirmation on higher time frame before taking trade in shorter time frame.

Nota

As per option chain BNF next target is 49500

Nota

We are going to get good fall below 49640

Nota

Market is in a tight range of 49770 and 49680. We have break any of these to get good moves. In between these is premium eating zone. We can see good moves after 2 pm

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