BankNifty Intraday view for 18-01-2021

Good evening all,

Today: While the index did give us a few points on the long side, it was risky and then boring. RSI between 60 and 40 through the day did not offer anyone any opportunity other than sellers. Being stuck in 200 points range is so not BNF.

Tomorrow: Let me start on the short side, we continue our view about that if 37925 is broken down. So no change there since yesterday, some few adjustments made basis the time frame. On the long side, today's intraday high is our entry point then incremental 100 points targets.

So;
Long side view:
Buy above 38620
Target 1 - 38750
TSL above this
Target 2 - 38850
Target 3 - 38960
(Long SL - 38365)
---------------
Short side view:
Sell below 37925
Target 1 zone 37845
TSL below this
Target 2 - 37715
Target 3 - 37570
(Short SL - 38000)

*** This is a view and not necessarily a trade recommendation ***
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Dagangan ditutup: sasaran tercapai:

Long Target 1 achieved

Dagangan ditutup: sasaran tercapai:

Long Target 2 achieved