BankNifty Intraday view for 16-11-2021

Nov 16, 2021

Good evening all,

Yesterday: Stuck between the range we had marked and importantly did 3 things; 1) failed to break down on the multi day resistance line 2) stayed above 38500 and 3) respected the new dynamic support line. Providing us optimism for today

Today: The 'long' story now some bit encouraging. Above 39200 though. And the short story stays as from yesterday.

So;
Long side view:
Buy above 39200
Target 1 39325
TSL above this
Target 2 zone 39450 - 39500
Target 3 zone 39560 - 39600
(Long SL - 39025)
---------------
Short side view:
Sell below 38340
Target 1 zone 38115 - 38000
TSL below this
Target 2 - 37665
Target 3 - 37385
(Short SL - 38500)

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