Hi Guys, Bank nifty and Nifty is in recovery mode. Gap Up opening chances are high. 35970 -36100 is strong resistance area.. Please try to avoid trade in between(No trade is sometime best trade). If Bank Nifty consolidate and break either way it will give 100-150 points.
Long Side Logic - Max Call OI is at 36000. If Bank Nifty break 36100 then short recovery will happen. Short Side Logic - We are up from 34500 so may some profit booking happen if BN start trading below 35960.
Please keep your stop loss 70-75 points index. Risk Reward Ratio is 1:2.