Yesterday’s bounce from the lows was the markets respecting the broad range of 17000-17300 in which they are stuck now.
I will repeat what I said yesterday - the chances of going up are higher than going down. However, the real rally will come only after 17380 is comfortably taken out on a closing basis.
Aggressive traders can continue to remain long/add fresh longs if 17034 is not broken on a closing basis.
BANKNIFTY made the smartest recovery from the day lows, but it needs to close above 35798 to get its mojo back and head towards 37150_37800. Keep a closing SL at 35500 for your BANKNIFTY longs.
29 Mar 22
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