BANKNIFTY WEEKLY ANALYSIS - 4th Feb Expiry (BUDGET BOMB !!!)

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Nifty Bank Index (NSE:BANKNIFTY)

NSE:BANKNIFTY Nifty Bank Index

trendanalysis supportandresistance chartpattern banknifty bankniftytrend bankniftytradesetup bankniftytrading bankniftyview bankniftyanalysis bankniftyexpiry bankniftylevels indiabudget

Banknifty has retested the 30850 level already.

I am expecting sharp selling below 30220 level.

Hence, my plan is mostly sideways to downtrend directional trading and selling call is preferable since IV (Intrinsic Value) will be high and we can get the good premiums.

All the imp levels are marked on the chart.

Cheers.