Bank Nifty Trading Strategy for 3rd May'2020
#banknifty
#options #trading
Thursday high was 21,966.65 unable to breach 38.2% retracement of the fall (32,613-16,116). BN has failed to show any strength as compared to nifty even after strong weekly closure.
BN Stentiment is breaish in medium term, until we close above 24,365 (50% of 32,613-16,116).
The short term pullback will end below 19,766 and will increase our next levels of shorts. If this level is broken the target on the downside is 17,504.
Pivot zone:- 20,907-21,325, below -ve and above +ve.
#options #trading
Thursday high was 21,966.65 unable to breach 38.2% retracement of the fall (32,613-16,116). BN has failed to show any strength as compared to nifty even after strong weekly closure.
BN Stentiment is breaish in medium term, until we close above 24,365 (50% of 32,613-16,116).
The short term pullback will end below 19,766 and will increase our next levels of shorts. If this level is broken the target on the downside is 17,504.
Pivot zone:- 20,907-21,325, below -ve and above +ve.
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