Sunday, 14 November 2021

Banknifty trade plan for 15th November

Banknifty trade plan review for 12th Nov analysis 

Price broke 38417 and took support from a Gann level near our target 38025. On Friday, BNF formed a classical open-low and remained bullish the whole day. Banknifty future gave 1st target on higher side 38800. This was a good day as things worked as per banknifty analysis

Banknifty daily chart 

In the daily chart, bullish targets are 39000, 39400, 40200 and 41000

Bearish trade can be initiated if the price took resistance near 39000 or trade below the previous day low. 

Gann's support level is  38800, and the resistance level is 39200.

Relevant data for Banknifty for next week trading 

ATM IV 31.5
HV 20.2 
Max pain 39000
ATM IV is greater than realized volatility. It is good to initiate a short ATM straddle. 

Astroview for Monday - Bullish and volatile

I expect volatility and both sides' movement in both sides in BNF. I deployed an evergreen banknifty trading strategy for December.

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