Banknifty range setup for 1st Aug | Expecting a retest

Overall Structure : Uptrend
Index components : Neutral Correlation
FGI Sentiments : Low Risk - 81.90↑ Indian & 42↑ Global
Insider Data : Bullish , PCR: 0.90↓, IVP: 5↓, IV: 16.9↑,(Low) VIX: 16.55↓ (21/27)↓
↑Up : 37800, 38150, 38450, 37750;
↓Down : 37200, 36800, 36500, 36200;
Market Opening(*Expected): Flat to Downward
Activity : Short Buildup/Short Covering (rebalancing),
Factor Impacts: High Inflation and Interest rate hikes, Operating margin declines, Employment risks, GST Rate Hikes.
Conclusion: Bnfy may move up towards 38500-40000 by the coming month after a retest up to 36800-36500. (Connect for more tips)
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***Note: Identify the B/S zone, Follow the trend direction with strong confirmation.
Nothing works 100% of the market. It depends on 50% weightage of technical chart, 25% to OI, and 25% to FII data.
We rigorously tested the strategy and is 88.6% accurate. This strategy is for knowledge point of view only & is subjected to market risk.
(Data source21:00 IST)***