How to Trade Nifty and Bank Nifty -24 Aug 2017

24/8/17- 6.00 AM

Today is the last trading day for the week.  Trading below yesterday's high in spot and future will put pressure on nifty and selling pressure will come in the latter part of the day.

I don't want to take any predetermined trade in Nifty.  I will play wait and watch strategy.

In Bank nifty,  weekly option expiry,  Gap down open below 24220 is bearish, gap up above 24400 will be good for bulls.  Either way 200 points volatility can be expected from the above levels , if bank nifty crossed the above levels.

Watch the resistance point of yesterday's high 24350 in spot and 24370 levels in future. 

There is no predetermined trade in Bank nifty. Only the gap up open or gap down open will decided the trade. 

Good luck.. 

Have a great day...