BankNifty Intraday view for 29-09-2021

Good evening all,

Today: We saw a fall from the top where we had marked as resistance. And what a fall. Gave us a good 480 points. Only to go back up by 500 points. This because, it hit the SR zone of the past (20th & 22nd). A total of 900+ points earned in a day.

Tomorrow: The problem with such a huge move in one day poses a problem for the next. As you can see, the room on top is only beyond 38400 and where take an entry on the 'Long' side. The exit target can be set only if the index retraces to a good level. But on the 'Short' side, we take an entry below 37200 for a target of 200-300 points.

So;
Long side view:
NO CLEAR LEVELS
---------------
Short side view:
Sell below 37200
Target 1 - 37055
TSL below this
Target 2 zone 36945 - 36885
(Short SL - 37315)

*** This is a view and not necessarily a trade recommendation ***
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