BANKNIFTY looks like have formed some sort of temporary base here. so the upside reward versus risk and a probability scenario is more favourable.
Until the levels of 24100 hold steady a pull back is a likely scenario. Initial target zones will be 24700 a clear of that can test 25200 levels.
Although do remember the long term swing set up still remains bearish. The above scenario holds good till 24100 holds or we form a base at a higher zone
Until the levels of 24100 hold steady a pull back is a likely scenario. Initial target zones will be 24700 a clear of that can test 25200 levels.
Although do remember the long term swing set up still remains bearish. The above scenario holds good till 24100 holds or we form a base at a higher zone
Trade closed: target reached:
Time to start packing up the longs. I dont expect BNF to go beyond 24750-24850 zones. Rather will look for a reversal into the consolidation zone around those levels.
More on the mid term and near term possibilities posted here powertrades.blogspot...me-perspectives.html
More on the mid term and near term possibilities posted here powertrades.blogspot...me-perspectives.html
