Thursday, 9 December 2021

Bannifty trade plan|9th Dec 2021

How was banknifty today?

Today, the banknifty future gave both sides movement. BNF closed at 37203, which is 0.53 % from yesterday's close. However, it closed above 13 EMA second day, which is a good sign for bulls. Banknifty is trading above 34 ma in the weekly chart.

FII net seller in the cash market. The Broader market shows indication for possible improvement but depends on follow-up buying across conters.

Banknifty chart analysis for 10th December

Important support and resistance

35692 is a strong support 37450 and 37790 are strong resistances.

Future and Options data analysis

FII again increased their short positions. PRO reduced long positions. The market shows bearish trends as FII and PRO are the net sellers in the market.

  • Maxpain 37500
  • PCR 0.97

The market might witness a massive sell-off based on open interest data.

Astrological prediction for tomorrow and Monday 13th December

Tomorrow moon is ar Rahu star Satvisha. The market might open gap up or gap down. I expect tomorrow will be a trending day.  

Monday (13th December) might be a bearish day.

How to trade banknifty tomorrow

If BNF trades above today's high for 10 min, I will go long, and 1st target will be 37950. If nifty bank future breaks today's low 37000, I will short banknifty for 1st target of 36100

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