ChartMantra

BankNifty Intraday view for 12-08-2021

NSE:BANKNIFTY   NIFTY BANK
Good evening all,

It was a good day for trading. No?
Met the first target on the 'long' side in 15 minutes after a pullback and then achieved two targets on the 'short' side. Tomorrow is the weekly expiry and the index is poised at a level from where it will either climb up to around 300-400 points or be sideways within a range of 200 points. Short looks tricky from where we stand as it has taken from the hourly support mark. But then hey....

So:
Long side view:
Buy above 35900
Target 1 zone 36000 - 36050
Target 2 - 36145
Target 3 - 36225
Target 4 - 36315
(Long SL - 100 points)
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Short side view:
Sell below 35715
Target 1 - 35655
Target 2 zone 35585 - 35525 (be careful of the hourly dynamic support)
below this, trail your SL
(Short SL - 36000)

*** This is a view and not necessarily a trade recommendation ***
However, If you like my idea..., do spread the word.

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