Bank Nifty Trade Setup for 16 MARCH 2022
Bank Nifty too bounced back from key support of 34800 during the close and managed to close below the next day CPR levels.
We have an inside CPR setup in BN where in we can expect some good movements tomorrow.
As of now the global parameters are hinting a possible gap up opening in Bank Nifty around R1 resistance.
If Previous day high is taken on the upside and sustains we can possibly look for long opportunity for higher targets.
In case of R1 is compromised on lower side and resistance confirmed we can possibly short BN for CPR & previous day close.
Any compromise of PDC we can expect lower targets.
We have an inside CPR setup in BN where in we can expect some good movements tomorrow.
As of now the global parameters are hinting a possible gap up opening in Bank Nifty around R1 resistance.
If Previous day high is taken on the upside and sustains we can possibly look for long opportunity for higher targets.
In case of R1 is compromised on lower side and resistance confirmed we can possibly short BN for CPR & previous day close.
Any compromise of PDC we can expect lower targets.