Trade absolute bare minimum as today lot of long and short positions will be exited or covered due to additional surveillance margin in Adani group stocks and higher volatility means we can hit sl if we keep sl close.
Make use of our banknifty trading strategy and be a part of winning team.
Fed hikes rates by 25 basis point it's smallest rate hike since March 22;
Fed says will continue to hike rates for the foreseeable future.
Powell has repeatedly said the central bank won't consider rate cuts until the committee is "confident" that inflation is moving toward its 2% target.
BankNifty Spot View For: 03/02/2023
Cmp: 40669.30
Support & Downside Range: 40440—40065--39760
Resistance & Upside Range: 40760—41056—41163 zone, 41481--41770
Short Term Trend Reversal Level: --
Trading View: bank nifty is relative strong then nifty which it has shown yesterday despite of brutal sell off in adani group stocks, in today's trading session key level to watch is 40440 spot till the them bank nifty trading above this level it has strong chance to come back and move upside towards minimum 41056 to 41163 zone levels and max 41481 to 41770 levels, whereas if it slips below 40440 then bias goes weak to sideways ahead of weekends.
Clear direction will emerge on Monday and today will be a premium eating day.
Trade 1-2 lot only for participation prize.
Safe traders remain on sideline.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
