scalp3r240

BANKNIFTY [18th December 2020]

NSE:BANKNIFTY   NIFTY BANK
** PLEASE NOTE THAT ALL LEVELS MENTIONED ARE SPOT **

Good evening! The index closed above the crucial 30800 mark suggesting a possibility of further up-move. 30600 should act as crucial support, a breach of which will lead to a correction. Consecutive close(s) above 30800 will confirm a resumption in the ongoing Bull Run.

LONG, if the index sustains above 30600 for targets of 30800-30950-31350. In case of a gap-up , one can go long if the index trades above 30950 for a short-covering led rally.

SHORT, if the index breaches 30600, for targets of 30350-30200-29900. In case of a gap-down, go long if the index seems to take support @ 30600.

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