BANKNIFTY Trade Set up Idea Updates

We discussed that 24870 will act as the immediate trend decideer. markets now seem to have formed some sort of base at 24840-870 zones. so 24870-24880 can remain
a choppy zone where both buyers and sellers remain active. Break down potential is only when we test below 24750. On the upside a break above 24970 keeps an
open possibillity to test the volume zones of 24050-70. swing hurdles continue to remain at 25250, where an pull back will be tested.
trading scenario 1: look for dips near 24840 to go long, scenario 2 and extension, in case momemntum is weak look to trade pullbacks once 24970 is tested. alternativelYesterdaylong above
that range to test 25050-70 zones.
Trade closed: target reached: relentless move since we established the base... time to close the trades here and look for a reverse opportunity.. risk reward becoming favorable for shorts


The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.