STRUCTURE vs DATA, who will win..?

4 thg 9

as we can see despite the break of rising wedge pattern, BANKNIFTY hasn't shown any significant downside move as we were expecting and remained sideways throughout the day after opening weak. Following the structure we can still expect bearishness for coming trading sessions but the DATA( option chain) shows huge OI build in OTM strike prices i.e 51500-52000 respectively which shows bullish bias largely hence unless the zones are breached, BANKNIFTY might remain bullish so plan your trades accordingly.