BANKNIFTY - 15 MIN -28/02/2022 TRADE SETUP ( SUPPLY AND DEMAND )
Hello traders,
Banknifty faced a strong RESISTANCE at price level 36615 on 24th and 25th february, because it is an important level in a Higher Timeframe.
Previous 2 Trading sessions Banknifty can't close its price above the key level ( 36615 ). So, there is a chance that on Monday it can break that resistance.
Because PCR ratio is 0.8 that means according to options data market may be BULLISH on monday.
1) If it breaks that level our target will be 37400 if BULLISH.
24th feb we had a VIRGIN CPR so it can act as a GREAT RESISTANCE.
2) If it can't break that level (36615) the market will be BEARISH.
In that case our target will be 35620.
Thank you <3
Banknifty faced a strong RESISTANCE at price level 36615 on 24th and 25th february, because it is an important level in a Higher Timeframe.
Previous 2 Trading sessions Banknifty can't close its price above the key level ( 36615 ). So, there is a chance that on Monday it can break that resistance.
Because PCR ratio is 0.8 that means according to options data market may be BULLISH on monday.
1) If it breaks that level our target will be 37400 if BULLISH.
24th feb we had a VIRGIN CPR so it can act as a GREAT RESISTANCE.
2) If it can't break that level (36615) the market will be BEARISH.
In that case our target will be 35620.
Thank you <3
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