#banknifty OI up by 7.85% and price up by 0.26 % shows the almost neutral position in FNO.
BN future is trading at 41.35 Rs premuim & cost to carry is 2.87, indication long buildup with low volume.
In today's session, the index formed another inside candle, though the range gets smaller than yesterday's session.
If there is upside breakout the target on upside is 24,728 or downside breakdown is 22,668.
Two days of consolidation on downsize is a cause of worry, we might be seating for next round of fall until we starts trading above 24,300 (Three targets are 24,526 / 25,232 / 25,827 are valid only if we start trading above 24300).
All SL for long is revised to 23,385.
#banknifty has given breakout above 23,220 after 2 months of consolidation (21,027 - 23,211 i.e 2,184 points range).
Upside target's opened are 23,517 (completed)/ 24,364-24,524-24-556(completed) / 25,395-25,670-25,923 / 26,311 as long as 23,385 holds.
GAP 25,923 - 25,670, 253 point gap in March, as a normal rule market always returns to fill up the gap.
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