In the scenario of a flat negative opening, BANKNIFTY is expected to find support within the 46719-46700 range. Consider a buying trade within this range with a stop loss at 46556, targeting 47206 in the foreseeable future.
Below 46550, initiate short positions with a target range of 46300 – 46286.
On the flip side, in the event of an upside gap up opening around 47200, contemplate a buying trade upon sustained trading above this level, targeting 47519 – 47614. Optimal profit-taking is advised within this range. Beyond 47700, anticipate a potential ascent towards the 48500 level in subsequent trading sessions.
Below 46550, initiate short positions with a target range of 46300 – 46286.
On the flip side, in the event of an upside gap up opening around 47200, contemplate a buying trade upon sustained trading above this level, targeting 47519 – 47614. Optimal profit-taking is advised within this range. Beyond 47700, anticipate a potential ascent towards the 48500 level in subsequent trading sessions.