Saturday, March 19, 2022

BANKNIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 21 MARCH 2022

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In last week, we witnessed a stellar recovery of nearly 10% in this high beta index and with this, it had reached its important resistance of ’20-day EMA’ placed around 36500. Hence, traders chose to book some profits around it during Tuesday’s session. But as mentioned in the previous commentary, the positive placement in ‘RSI-Smoothened’ on daily chart was clearly indicating of resuming the upward trajectory. Without wasting much of time, the index went on to not only challenge but also surpassed this hurdle on the following session itself. Now for the coming week, the immediate levels to watch out for would be around 36606– 36956; whereas on the flipside, 36256 followed by 35905 are to be seen as key supports.

Type

R1

R2

R3

PP

S1

S2

S3

Classic

36606

36784

36956

36434

36256

36083

35905

Fibonacci

36567

36650

36784

36434

36300

36217

36083

Camarilla

36460

36492

36524

36434

36396

36364

36332

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