Banknifty analysis for 21st July

20 jul 2022

Hi all,
Unable to prepare chart today due to personal reasons.

Please do your own analysis before taking any trade.

View for tomorrow:
Market has traded in a tight range today, please mark today's high and low

Flat opening: Wait for previous day high or low to break then go as per trend

GAP UP opening: Market has already rallied much in the past few days and facing resistance at 36000, so NO TRADE IF MARKET GAPS UP TOMORROW, because if it cannot sustain the Gap up, sharp selling is very much possible from Higher levels but we cannot tell if it happens or not, market can go sideways to volatile also
GAP DOWN: If market breaks any of the previous supports decisively, go short till next support

NOTE: Pls keep trailing your Stop loss as tomorrow is expiry and market can suddenly reverse in any given direction.

Quote of the day: Trading is a very tiresome and gruelling process, but if you can crack it, the end result is REALLY WORTH IT.