Banknifty successfully sustain 44k levels. Now next target 44300

15 may 2023

Banknifty has sustained 44k levels on 30 mints charts and spending time which is good for activating bulls in it. Now 43700-43800 will act strong support zone for bank nifty. All indicators like MACD, RSI and 200 D EMA,,all giving bullish crossover. Earlier in the morning after opening was looking 44k highest call writing but now all call writing position has been covered., this is also a positive sign for banknifty..might be we will closs above 43200+ today only. So if any one wants to go long can go with given levels on chart. I have option trade also.

Option trade:-
Short 18th may banknifty 43800 PE at 167
keep stop loss 267
and hedge with
18th may banknifty 43200 PE at 67.

this is bull put spread trade

Please follow strict stop loss it it.

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