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Garvit_Narang

Banknifty - 7 day range breakout

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Nifty Bank Index (NSE:BANKNIFTY)  
Garvit_Narang  
NSE:BANKNIFTY   Nifty Bank Index
Trend Analysis Chart Patterns BANKNIFTY priceaction pricebehaviour trendtrading intraday index optiontrading
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trendanalysis chartpattern banknifty priceaction pricebehaviour trendtrading intraday index optiontrading
So finally bank nifty has come out from a tight range, and today it has been a sideways market.
So our analysis will be simple, tomorrow will be a trending market.
if it opens below the 41800 level i.e previous day's high(PDH) we will wait for the breakout and our target will be the 42000 level.
On the other hand, if it opens gap up, the first scenario will be it can take support from PDH and the second will continue towards the 42000 level.





Note - I'm not sebi registered, this is only for educational purposes. Do your own analysis first.
Penafian

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