BANKNIFTY Update 06. 01. 2021

As discussed in yesterdays blog, short selling puts at dips seems to be working out pretty well. We broke out of an accumulation zone and closed at days high. My personal trade was simply buying banknifty Jan futures and holding it with a positional target of 32190.

Banknifty Resistance Zone - 32014.75/32307.25

Support Zone - 31351.60/3131598.70

Trade: will continue to stay long and short puts at dips as long as banknifty holds on to trend line.

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