Banknifty is ready for Bigmove ? Banknifty Weekly analysis.

Banknifty has maximum Open Interest on Call side 5.38 Lakh at Strike Price 28000 and maximum OI on Put side is 5.5 Lakh at strike price 27500. So Upper side 28000 is resistance and 27500 is strong support. India VIX is at 14.94 (2.29% down) is suggesting that the market is in control of Bull.


Banknifty One Hour Chart
Banknifty closing Price is 27761. On the Daily chart, Banknifty has made a bullish candle. As seen on chart banknifty is in Darvas Box whose upper limit is 27820 and lower is 27650. If Banknifty closes above 27820 on 15 min chart then it will shoot towards 28000 to 28300 in this week. Banknifty has strong support at 27500.

11th March is a Vedic Date. A big move may come on 11 or 12th March. 

Strategy

Weekly: Sell Banknifty 14th March 27500 PE: CMP 72 

Intraday:

Buy above 27820 Target 27900, 27990, 28081

Sell below 27720 Target 27648, 27576, 27504

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