Technical Analyst, owner of TRADEMANIAC
I am NOT a SEBI registered advisor or a financial adviser. All trades are shared here for education purpose only.
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Banknifty analysis:-
Banknifty Fut today may open at 41100 & may test 41000 & 40812. If banknifty hold 41000 level then it may bounce back towards 41200. If break 40800 in second half free fall is expected.
Rollover cost 18.61% & Maxpain of today's contract is 41200
How to execute this plan
Scenario 1:-I am expecting fall till 1:15 p.m @ 40812. After that Banknifty may take support here & it may bounceback towards 41000 & it may expire at 41100
Scenario 2:-Suppose if it opens at 40812, then Banknifty may take support here & small bounceback is possible till 1:15 p.m & after 1.15 p.m it may again dragged below 40812 with volume & may reach 40700, 40593
For live chart, click on the following link:-https://in.tradingview.com/chart/BANKNIFTY1!/DyBIBZy9-Banknifty-Future-Intraday-price-action-analysis/