BankNifty Intraday view for 23-07-2021
Updated
Good evening all,
Today was a gap up opening of 200 points and gave us an entry on the long side level to meet our 1st & 2nd targets at 35000 (just 11 points shy of 35K). And, I am indecisive on a directional view for tomorrow as the no-trade zone for me is huge, ~500 points actually.
Outside of that;
Long side view:
Buy above 35000
Target 1 - 35125
Target 2 zone - 35325 to 35375
--------------------
Short Side view:
Sell below 34550
Target 1 - 34375
Target 2 - 34270
Above and below the 2nd target on either side, you will be happy to trail your SL. Also, for a good RR, of at least 1:1, your SL needs to be 100 points below the entry point.
*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., do spread the word.
Today was a gap up opening of 200 points and gave us an entry on the long side level to meet our 1st & 2nd targets at 35000 (just 11 points shy of 35K). And, I am indecisive on a directional view for tomorrow as the no-trade zone for me is huge, ~500 points actually.
Outside of that;
Long side view:
Buy above 35000
Target 1 - 35125
Target 2 zone - 35325 to 35375
--------------------
Short Side view:
Sell below 34550
Target 1 - 34375
Target 2 - 34270
Above and below the 2nd target on either side, you will be happy to trail your SL. Also, for a good RR, of at least 1:1, your SL needs to be 100 points below the entry point.
*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., do spread the word.
Trade closed manually
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