Nifty bank 15 minute a candle:
1. Nifty bank has broken the range with a BOOM and there it is now trading above 39000, it is looking very bullish to achieve the target of 39800, 40500 and, 40900 in this week. I am expecting Niftybank will achieve 39800, today only, if it moves above 39375 with a bullish candles breaking and making higher highs. Today, I am not at the bearish side as Global queues are positive.
2. Traders can buy ATM CE, if Nifty bank trade above 39375 with stoploss of 80 points, only to make decent profit of 3X or 4X or more as compared to stoploss. You have to focus on the movement of HDFC bank, also because it has posted good result and Nifty bank will move according to it. If other banks also support then Nifty bank will achieve 40500, today (let see).
3. Nifty bank has to be avoided in no trading zone and turn-around zone, if open GAP-DOWN, wait for a range to break with a bullish candle and then trader with small quantity until it breaks 39375 then you can increase the quantity as per your wish. My advice is to avoid trading below 39000.
4. Nifty bank will be mild bearish is trade below 38900, but I an not expecting that. But if it breaks 38600 then you can go for bearish side trade.
