Banknifty had a more flattish tone today compared to Nifty. The hesitance to get past the 48115 resistance was clearly visible. Even though Nifty closed the day flat, BN gave up some points ~ 151, -0.31%.
We wish to start the 22nd with a bullish view but switch back to neutral if the 48115 resistance is not getting taken out.
Since 22nd is the expiry day, the actual moves may not be conclusive. Will wait for the 3pm move to guess the direction with a higher confidence level
We wish to start the 22nd with a bullish view but switch back to neutral if the 48115 resistance is not getting taken out.
Since 22nd is the expiry day, the actual moves may not be conclusive. Will wait for the 3pm move to guess the direction with a higher confidence level