End of the Day Analysis: Banknifty👀
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1. After Gap Up Opening of around 175 points, It could not sustain 39000 psychological level & selling was seen till 11AM took support at 38390.
2. After 11 AM , only consolidation movement is there in banknifty , which is not good for option buyers.
3. At 14:20 , selling pressure has been seen & it broke previous swing low 38450 which got support 38160.
4.After 03:00PM , it again went up til 38500 with buying pressure as Dow jones futures are trading positive & finally closed at 38526
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Trade Summary:-
After Opening, Put/PE trade can be taken after breaking of 1st 5 min candle low ,i.e., 38750 & Trail SL till 38160.
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Price Action Analysis❤️
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Hope you all have enjoyed
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