Market-Thalaivaa

Banknifty - Caution to Longs

NSE:BANKNIFTY   NIFTY BANK
Banknifty has given a deep shark harmonic reversal. However, the speed of movement in the last leg was strong, hence shorting is not advisable.
Hedging or unwinding longs can be done.
A test of gap near 35300 can happen in next couple of days.

Disclaimer: All investments and trading in the stock market involve risk. Any decisions to place trades in the financial markets, including trading in stock or options or other financial instruments is a personal decision that should only be made after thorough research, including a personal risk and financial assessment and the engagement of professional assistance to the extent you believe necessary. The trading strategies or related information mentioned in this article is for informational / educational purposes only.
Trade closed: target reached

Comments