Banknifty still in Negative direction ( Trades , Tareget and SL
On Day chart, BN still showing negative trend for short term,
An "Insider Candle" pattern formed and today closed in down side direction of child candle,
Also, RSI is weak, MACD negative diversion formed,
Even if it touch 39800, A sharp down fall possible, and If it start trading & closed below 39300 without upper side movement, we can see a lower level up to 38250 in very near future.
TRADE -
If sustain above 39800,
Buy BN , SL 39300, Tgt . 40000,40150, 40375
If Sustain below 39300 -
Sell BN , SL 39550, Tgt . 38850, 38500, 38250
No Trade zone
39300-39775
An "Insider Candle" pattern formed and today closed in down side direction of child candle,
Also, RSI is weak, MACD negative diversion formed,
Even if it touch 39800, A sharp down fall possible, and If it start trading & closed below 39300 without upper side movement, we can see a lower level up to 38250 in very near future.
TRADE -
If sustain above 39800,
Buy BN , SL 39300, Tgt . 40000,40150, 40375
If Sustain below 39300 -
Sell BN , SL 39550, Tgt . 38850, 38500, 38250
No Trade zone
39300-39775
Trade closed: target reached:
Short side 2 targets achieved , Now, a bounce back expected for some time as PCR is low.