Banknifty 16th July Expiry

15 Tem 2024

With a very strong support at 52200, the weekly expiry is expected above 52200. mArket has taken the pending demand orders in the range 51700-52000 and has provided the momentum. It will be interesting to see the high levels in coming das. However with monthly supply zones at 52900-53100 levels may stop the speedy up movement for the month. Overall the Banknifty is expected to move in the range 53100-52000 until the monthly expiry. The only caveat is uncertainty because of budget and what is inside in its store unlike the election day result. Keep yourself hedged if you are trading in the budget week so that unexpected volatility does not erode your capital.

15 Tem 2024

Not

how would you plan for trade, i would suggest keep 52200 PE chart in front of you, add indicators EMA 20 and EMA 50 in 5 min chart, currently 52200 PE is going at 100, wait for the price to touch ema 50 and thats where it will give you short positions for option sellers, in the contrary for option buyers it will be buying opportunity