Nifty Bank IndexLong
24 JULY | BANKNIFTY LEVELS
Banknifty currently on bullish trends so we will only plan but on dip.
Here 45850 level is a important level because it is 0.5 level of FIBO and secondly it will act as support as resistance act as support when it breaks.So to take position on CE wait for some confirmation like(Bullish candle,Trendyline breakout on 1 min time frame).SL will be 30-40 points in options and and Target will be atleast 1:2,1:3.
All these conditions will be applicable if banknifty open flats or slightly gap down otherwise ignore it and wait for better opportunity.
Here 45850 level is a important level because it is 0.5 level of FIBO and secondly it will act as support as resistance act as support when it breaks.So to take position on CE wait for some confirmation like(Bullish candle,Trendyline breakout on 1 min time frame).SL will be 30-40 points in options and and Target will be atleast 1:2,1:3.
All these conditions will be applicable if banknifty open flats or slightly gap down otherwise ignore it and wait for better opportunity.
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