Bank Nifty: Demand and Supply Zones for Intraday Trade
Hello,
As I have mentioned in my Bank Nifty Weekly post, Bank Nifty chart is stronger than Nifty.
1st Major Supply Zone @ 31375-31475
1st Demand Zone @ 30900-31050
2nd Strong Demand Zone @ 30600-30660
Neckline @ 30500
I am not expecting tomorrow BNF will sustain above its first supply zone. If it will sustain then I will plan for a long trade.
On the downside, there are two demand zones. On Monday if the bank nifty will open negative then I will watch the 1st demand zone. If it will sustain below 31050-30900 then I will plan for a short trade.
Trade Well
As I have mentioned in my Bank Nifty Weekly post, Bank Nifty chart is stronger than Nifty.
1st Major Supply Zone @ 31375-31475
1st Demand Zone @ 30900-31050
2nd Strong Demand Zone @ 30600-30660
Neckline @ 30500
I am not expecting tomorrow BNF will sustain above its first supply zone. If it will sustain then I will plan for a long trade.
On the downside, there are two demand zones. On Monday if the bank nifty will open negative then I will watch the 1st demand zone. If it will sustain below 31050-30900 then I will plan for a short trade.
Trade Well
