- Resistance at 24800 & 25180 Support at 24150 & 23800
- Breaking either level in the first week will decide the trend for rest of the series.
- Option data shows 600 points range from 24500. Downside 23900 & Upside 25100
- Selling around 25100 levels seems good risk reward ratio in downside.
- Long bull candle followed by Hanging man is not a bullish pattern. There seems some sell off will take place and take the trade to low point of the long bull candle. 23150 levels.
- RSI (14) is around 70.54.
- Trading above 25180 levels for few days can change the chart pattern, till that time take profit, if there is rise in the Bank Nifty.
- We have to analysis the daily and weekly chart in view of the above pattern and levels.
Good Luck...
Yours
Zen Trader.
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