Banknifty:

Bullish only trades for this week. After a long time banknifty has turned bullish in our radar. 47700 should be a very good support to hold. Could potentially see BNF hitting fresh ATH for this week and continue its momentum for couple of weeks to follow. We will be focusing only on Banknifty for this week to trade as Thursday is trading holiday.

Nifty:

As you could see from the chart it looks really messy to trade Nifty for the week. Friday's NFP data release was a positive for the global markets so we should be hitting fresh ATHs. But given the selloff pressure and inability to move up after gapup from last week, it is really sketchy to trade Nifty. Will wait for this week to form its price action and would be happy to skip this week's Nifty trading.

~PR