Nifty form a inside candle pattern in daily chat.It means below 18550 Nifty is bearish and above 18680 Nifty is bullish.
So 18550-18680 is basically no trading zone.But you can take contra trade using this level with a small stoploss.
Buy arround lower end of the range with SL of 18530.
And sell arround higher end of the range with 18720 as SL.
Today range break out probably not happen due to Financial nifty expiry.
Bank nifty
In Bank nifty straight forward level for today is 43800 which is 20EMA and last 7-8 trading season low.
So below 43800 level bank nifty will become bearish.
And on upside 44500 is clear breakout level for bank nifty which will not happen today due to finnnifty expiry.
You can initiate buy trade at 43900-44000 level like nifty to play the range.
Target will be arround 44350-44450.SL is 43800.
Sell arround 43400 Target 43900 and SL 43500.
Plan your trade accordingly for today.
Thank you.
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