Nifty Bank: 15 minute a candle
1. Banknifty will be bullish above 38300 with slow movement upside, for the fast movement it has to cross strong resistance zone of 38450-38550 and sustain for some candles above this level.
2. Banknifty is looking bearish and the structure or price action seems bearish in nature. If it breaks 37950 level with huge volume then you can see the down fall with fast movement till 37500 and then 37000 levels can bee seen.
3. If banknifty opens gap-up around 38300 level, then wait for an hour for the range to make and then trade that range accordingly.
4. If banknifty opens gap-down around 37500, then do not trade either in PE or CE. Just take a day off.
Nifty 50: 15 minute a candle
Nifty 50 is again going to touch 17800 level and if it sustain below 17800 then 17650 level can be seen as Reliance and other heavy-weights are not looking good and also, FIIs are on selling spree since weeks. It will become bullish only above 17950 and sustain for and hour or more, then you can see upside movement.
