BankNifty Intraday view for 04-01-2021
Good evening all,
Today: We had a very good run today post breakout of 35700. Like we had expected and fetched us 3 targets.
Tomorrow: (Look at the chart intraday chart for (03-01-2022 for reference). The market is at a critical reversal point and with RSI already over 80 making it a good candidate for correction. How much that will be is to be watched and 36235 is am important level. Below that, we may even see a drop up to 36000. For it to sustain the long run, 36600 needs to be breached for a potential target of 36750 and then 36840. Else, it may just bore us again in 400 point range between 36600 and 36200.
So;
Long side view:
Buy above 36600
Target 1 zone 36750 - 36840
TSL above this
Target 2 - 37000
Target 3 - 37150
(Long SL - 36465)
---------------
Short side view:
Sell below 36235
Target 1 zone 36120 - 36075
TSL below this
Target 2 zone 36000 - 35950
(Short SL - 36350)
*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., hit like, follow me, and do spread the word.
Today: We had a very good run today post breakout of 35700. Like we had expected and fetched us 3 targets.
Tomorrow: (Look at the chart intraday chart for (03-01-2022 for reference). The market is at a critical reversal point and with RSI already over 80 making it a good candidate for correction. How much that will be is to be watched and 36235 is am important level. Below that, we may even see a drop up to 36000. For it to sustain the long run, 36600 needs to be breached for a potential target of 36750 and then 36840. Else, it may just bore us again in 400 point range between 36600 and 36200.
So;
Long side view:
Buy above 36600
Target 1 zone 36750 - 36840
TSL above this
Target 2 - 37000
Target 3 - 37150
(Long SL - 36465)
---------------
Short side view:
Sell below 36235
Target 1 zone 36120 - 36075
TSL below this
Target 2 zone 36000 - 35950
(Short SL - 36350)
*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., hit like, follow me, and do spread the word.
Dagangan ditutup: sasaran tercapai:
Long Target 1 achieved
Dagangan ditutup: sasaran tercapai:
Long Target part 2 achieved
