BankNifty Conviction Idea April 8, 2020

SGX Nifty is hinting towards a gap up start of 200-300 points for #banknifty and 80-90 in #nifty. That could be a trap setup again and our advise is to stay safe in both the indices as today is expiry and reversal of trend is likely. With that said, here are some important levels for the day.

Opening Point: 33200-33300

Strong Resistance: 33000 (Yes, it is below opening point because it might not sustain above)
Resistance 1: 33500

Support 1: 32500
Support 2: 32000

Expiry in Between 32500-33000

Happy Trading,
Team, Investwise