ChartMantra

BankNifty Intraday view for 13-08-2021

NSE:BANKNIFTY   NIFTY BANK
Good evening all,
Like I suggested yesterday, the market was rangebound between 35950 - 35780 most of the day today but for the last 15 minutes where it broke it's intraday resistance of 35960. For tomorrow, the morning is going to be very important where I reckon a pullback to 35960-50 and then when it crosses over 36000 again, a 'long'. I don't see a short from here. Either Long or rangebound.

So:
Long side view:
Buy above 36000
Target 1 - 36075
Target 2 - 36145
Target 3 - 36225
Target 4 zone 36280 - 36315
(Long SL - 35880)
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Short side view:
Sell below 35780
Target 1 - 35700
Target 2 zone 35655 - 35615
Target 3 zone 35560 - 35530
below this, trail your SL
(Short SL - 35880)

*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., do spread the word.
Trade closed: target reached: 2 targets met on the 'long' side. Reversed from the PRZ.

Comments

Bat pattern!, But don't give target unless it's completely formed. Have been there!
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@anannfanan completely disagree.... target is based on retracement and Bat, Crab, Shark, Gartley et al are just names.... Can't get consumed with them. The pattern and more importantly, their application to trade is what matters.
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i think i must learn about harmonics now...how do you plot D..damn
Reply
ChartMantra upsidedown093
@upsidedown093,

Read comment reply from 03-08... And thank you
Reply
keep up the good work....
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