Banknifty - yesterday we managed to bounce of the swing target zones for the week ( refer to the weekly analysis video)
ensuring we have a pretty balanced closed. The pullbacks closed at key areas with respect to the swing zones.
Today will set the foundation for a larger move from here. If we manage to hold and close below 35200-350F areas, expect new lows to be made in coming sessions, Alternatively if we hold the levels and form value higher and ensure a close above 35350F areas, I will expect markets to pop up back and test highs in next few days.
From today' context:
1. Hold below 35200F look to test up to 34800F areas.
2. Hold above 35350F can look to go to test and visit the swing references of 35650-750F zones
Largely will expect markets to be range bound and can be a good day to play options decay within the broader range of 35600-34800
ensuring we have a pretty balanced closed. The pullbacks closed at key areas with respect to the swing zones.
Today will set the foundation for a larger move from here. If we manage to hold and close below 35200-350F areas, expect new lows to be made in coming sessions, Alternatively if we hold the levels and form value higher and ensure a close above 35350F areas, I will expect markets to pop up back and test highs in next few days.
From today' context:
1. Hold below 35200F look to test up to 34800F areas.
2. Hold above 35350F can look to go to test and visit the swing references of 35650-750F zones
Largely will expect markets to be range bound and can be a good day to play options decay within the broader range of 35600-34800
